Bankruptcy is a cat that every bank and financial institution wants to bell at the earliest to offset losses. Thousands of crores of rupees are written off by banks under the guise of bad loans, when the institutions are unable to recover the outstanding dues from companies and individuals. Recently, even Reserve Bank of India…
Video will begin in 5 seconds. More video Recommended Replay video Palmer believes Queensland Nickel will survive Federal MP and owner of Queensland Nickle, Clive Palmer, has been under fire after events in the timeline of the company have come under question. Vision courtesy ABC News 24. PT2M5S 620 349 Clive Palmer’s aviation company has…
Written on the 23 February 2016 by Paris Faint RESULTS Legal has made a name for itself as an innovator in the commercial litigation space over the past decade, with founder and managing director Karl Hill (pictured) crediting it to an unconventional approach. “We’ve always tried to be slightly different from the…
Jonathan Levine has joined Morrison & Foerster as a partner with the business restructuring and insolvency group. Mr. Levine, who most recently worked with Andrews Kurth, has represented creditors committees and bondholder groups in industries including mining and energy. In addition to working on chapter 11 cases, he also has worked on out-of-court restructurings and distressed…
Seven Laura Ashley stores in Australia have been closed as the voluntary administration of the retail chain in Australia continues. The Australian arm of the homewares and clothing retail entered voluntary administration on January 7, at which time the chain was operated 38 stores in Australia. Administrators FTI Consulting confirmed this morning seven Laura Ashley…
The company with the licence to sell Jeep clothing and footwear in Australia has collapsed into voluntary administration. The collapse comes around 10 years after Jeep opened its first concept store in Melbourne through local licensee Revolution Brands. Revolution Brands appointed voluntary administrators last week, with Barry Wight from Cor Cordis Chartered Accountants acting as…
Several large vocational education and training providers have collapsed into voluntary administration after their parent company appointed external administrators earlier this week. Global Intellectual Holdings Pty Ltd entered voluntary administration on Tuesday, with Richard Albarran, Blair Pleash and Shahin Hussain from Hall and Chadwick appointed as external managers. Global Intellectual Holdings is the company behind…
Corporate restructuring was the main culprit behind a drop of 40 percent in Korean banks business performances last year. Financial regulators explained that bad account cost from the restructuring of shipbuilders such as STX Shipbuilding weakened banks profitability last year. Last year, Korean banks posted 3.5 trillion won in net income, a drop of 42.6…
Feb 19 Koumbas Synergy Group : * Approves dissolution and liquidation of company Source text: bit.ly/1Vs4AlL Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSFWN15Y038