A company in Manchester and another in London have been ordered into liquidation by the High Court for misleading almost 100 small businesses into paying for services to challenge business rate valuations. The winding-up of Harrison Black Associates Ltd and Hayden Moss Associates Ltd follows an investigation by the Insolvency Service, which found that the…
Clive Palmer says he has “saved the Yabulu refinery for a second time” after snatching control of the Townsville nickel plant from administrators. Key points: Palmer says Yabulu refinery “saved” after two companies join forces behind new manager Queensland Nickel Sales $23 million worth of assets to back manager Former manager Queensland Nickel still…
By Asma Chandani After a tumultuous Q1 for global stock markets, investors are increasingly seeking to take advantage of attractive valuations. Bolstered by strong macro fundamentals, the SENSEX closed on Friday with its highest weekly gain in seven years, and the NIFTY just shy of 7,450. Last week, Goldman Sachs reaffirmed its overweight position in…
Alberta has seen an 18.5% spike in personal insolvency over this last year. Thats according to Zaki Alam, a Senior VP with MNP Limited, where he specializes in consumer and corporate insolvency. Alam says a series of lay-offs in the oil-patch is much to blame, but the downturn in the price of oil has had…
Melbourne-based antipasto manufacturer Pronto e Fresco has entered voluntary administration. SmartCompany reports that Pronto e Fresco Pty Ltd has been operating for more than 15 years, supplying antipasto products such as semi-dried tomatoes, olives and grilled vegetables to major Australian supermarkets, wholesale and retail customers. Receivers and managers from McGrathNicol have commenced a sale campaign…
Alberta has seen an 18.5% spike in personal insolvency over this last year. Thats according to Zaki Alam, a Senior VP with MNP Limited, where he specializes in consumer and corporate insolvency. Alam says a series of lay-offs in the oil-patch is much to blame, but the downturn in the price of oil has had…
The focus on streamlining arbitration methods is necessary but not sufficient. Conciliation needs more play The past several months have seen a flurry of policy making. Parliament has made laws amending the 2013 Companies Act, the Arbitration and Conciliation Act, and introduced the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act,…
March 6, 2016 9:43 a.m. ET BERLIN Commerzbank AG CRZBY 0.51 % Sunday said the head of its retail unit will become its new chief executive, succeeding one of the very last acting leaders of a European bank that tapped taxpayers in the financial crisis. The supervisory board of Germanys second largest lender named Martin…
Summary Given Weatherford’s declining EBITDA and high debt load, liquidation value may be a better metric. I believe Weatherford’s inventory ($1.1B), PP&E ($5.7B), intangibles and non-current assets ($3.5B) are higher than their liquidation value. Even with its $565 million equity raise, based on liquidation value Weatherford is insolvent. WFT remains a great short play. Click…
Dan Carney 12:04 a.m. EST March 6, 2016 A columnist believes Sen. Bernie Sanders is having a polarizing effect that is damaging Democrats message.(Photo: ~File photo) While they might not say it publicly, most establishment Democrats would view a Bernie Sanders nomination with as much enthusiasm as bungee jumping off the Washington Monument without a…