New Delhi: Excess debt on the books of Indian companies remains a medium-term risk to Indias growth trajectory, the International Monetary Fund (IMF) said on Wednesday. Excess corporate debt also increases risks to banks, IMF said in its Global Financial Stability Report. Banking systems are vulnerable to further declines in growth or profits, particularly in…
* European corporate bankruptcies higher than pre-crisis * EU wants early warning alerts to prevent bankruptcies * Companies to receive support for early restructuring By Francesco Guarascio BRUSSELS, Oct 5 An external early warning system for companies at risk of insolvency is central to a European Commission’s draft proposal to cut the region’s bankruptcy problem…
The $3.5 billion Baha Mar casino resort in the Bahamas has been surrounded in controversy for the last couple of years as the project came to a halt after developer Sarkis Izmirlian faced financial troubles due to delays, and the secured creditor for the project, the Export-Import Bank of China (EXIM) wasnt willing to extend…
Phoenix Institute * Facing Federal Court proceedings from the ACCC accused of making false or misleading representations and engaging in unconscionable conduct * A subsidiary of Australian Careers Network, which went into voluntary administration in March * Was allegedly paid more than $100 million by the Commonwealth for enrolments between January and October 2015 Australian…
Alden Williams/Fairfax NZ Atamai Village off Mytton Heights Road. Village Stewards, which holds land owned by the Atamai Land Trust, is in liquidation. The future of a Motueka Valley eco-village is uncertain as its corporate trustee goes into liquidation owing creditors about $10 million. Atamai Village is a not-for-profit permaculture community billed as being “designed to deal with the impacts of…
Winthrop and its predecessors (collectively, the “Winthrop Group”) possess the knowledge and experience to successfully manage NYRT through the liquidation process. The Winthrop Group has overseen as external advisor and manager five publicly traded REITs, more than 50 publicly registered syndicated limited partnerships and more than 300 privately syndicated limited partnerships. The Winthrop Group was…
Posted on : Oct.4,2016 16:32 KST Modified on : Oct.4,2016 16:32 KST An oil development site operated by Canadian company Harvest. (Hankyoreh file photo) The fate of Harvest, a Canadian petroleum and gas mining company, is a matter of Korean National Oil Corp.s survival An analysis suggests a difference…
US-based Karma Media Holdings has taken control of troubled local Australian streaming media company Quickflix. Voluntary administrators Jason Tracy and Richard Hughes of Deloitte announced that Karma has bought Quickflix and its assets in exchange for payment of $1.3 million. Tech and media entrepreneur Erik Pence will lead Quickflix as the managing director. Karma will…
Dissolution and liquidation Bankruptcy Penalties On December 11 2015 the Indonesian Financial Services Authority (OJK) enacted Regulation 28/POJK.05/2015 concerning the Dissolution, Liquidation and Bankruptcy of Insurance Companies, Sharia Insurance Companies, Reinsurance Companies and Sharia Reinsurance Companies. The regulation was authorised by Articles 42(4), 44(3), 45(3) and 51(4) of Law 40/2014 concerning Insurance, which require…
By NEIL HARTNELL Tribune Business Editor [email protected] Seven Baha Mar companies have now been placed into full liquidation by the Supreme Court, prompting a well-known QC to say he cant understand the legal strategy pursued by original developer, Sarkis Izmirlian. Justice Ian Winder last week appointed Baha Mars joint provisional liquidation team Bahamian accountant Ed…