Early last month, the Senate announced an inquiry with terms of reference that cover the collapse of Dick Smith Electronics. There is a lot for senators to pore over in the float and failure of Dick Smith. In economic theory, the failure of this Australian retailer is consistent with a dynamic economy. Businesses that do…
JOHN KIRK-ANDERSON Stonewood Homes founder Brent Mettrick has appointed liquidators to the building firm’s shareholder company. Stonewood Homes’ shareholder company has been placed in liquidation, a move that will put the firm’s senior management under scrutiny. Stonewood Homes founders Brent and Sue Mettrick asked Ernst & Young liquidators Rhys Cain and Rees Logan to take over Holmfirth Group Ltd on Thursday. Holmfirth Group Ltd,…
Central banks have financial markets in a spin. Government bonds rose, the euro slid and equities fluctuated as investors waited to see if European Central Bank President Mario Draghi will satisfy heightened speculation on further stimulus measures. U.S. stock-index futures climbed. South Koreas won rallied after policy makers refrained from lowering borrowing costs, New Zealands…
WASHINGTON – Sens. Ron Wyden and Jeff Merkley, D-Ore., along with Sens. Patty Murray, D-Wash., Elizabeth Warren, D-Mass., Richard Blumenthal, D-Conn., and Richard J. Durbin, D-Ill., and 29 Senate Democrats sent a letter to President Obama on Wednesday, urging the administration to protect students who attended colleges or universities that engaged in unlawful, unfair, deceptive…
Abengoa SA said it has laid the groundwork for an agreement with creditors to restructure debt as it maneuvers to avoid becoming Spains largest corporate insolvency. Investors will provide financing of as much as 1.8 billion euros ($2 billion) to the renewable energy company in exchange for 55 percent of its capital, Seville, Spain-based Abengoa…
JOHN KIRK-ANDERSON Stonewood Homes founder Brent Mettrick has appointed liquidators to the building firm’s shareholder company. Stonewood Homes’ shareholder company has been placed in liquidation, a move that will put the firm’s senior management under scrutiny. Stonewood Homes founders Brent and Sue Mettrick asked Ernst & Young liquidators Rhys Cain and Rees Logan to take over Holmfirth Group Ltd on Thursday. Holmfirth Group Ltd,…
A homewares business that had been operating for just over 20 years has collapsed into liquidation. Earthborn Pty Ltd appointed external managers late last month, with David Stimpson and Terrence Rose from SV Partners appointed joint liquidators. Earthborn has more than 10 retail stores across Queensland, including in the Indooroopilly Shopping Centre, Westfield Clarindale and…
Shanghai Exactly a year ago, Premier Li Keqiang set out the case for difficult industrial overhauls. This is not nail-clipping, he warned, its like taking a knife to ones own flesh. The comments recalled his fearsome predecessor Zhu Rongji who eliminated 30 million jobs practically in one go in a clean-up of state enterprises in…
STACY/SQUIRES/FAIRFAX NZ. Kaizuka Eatery and Garden Bar was issued a full on-licence in March 2014 and operated on the licence for about six months before a visit from council licensing officers. Unsecured creditors will likely be left out of pocket after troubled Christchurch bar Kaizuka entered voluntary liquidation. Kaizuka Limited co-owner Dwayne Vaughan last w… Read the full article at: http://www.stuff.co.nz/business/77698738/Creditors-unlikely-to-be-paid-back-following-Kaizuka-bar-liquidation
This time last year shares in G4S were 300p, surpassing their level of 2012, the calamity year in which the firm failed to supply enough security guards to the London Olympics. Ashley Almanza, the chief executive recruited to bring order to the sprawling empire built by predecessor Nick Buckles, seemed to be halfway to success.…