New Delhi, Apr 15 At least 35 corporate insolvency resolution processes are going on under the Insolvency and Bankruptcy Code, which is providing entities the “freedom to exit”, IBBI Chairperson M S Sahoo said today. The Code, which provides for market-determined and time- bound resolution process, is being implemented by the Insolvency and Bankruptcy Board…
Colin Smith Philip James Whitley, now Philip Dale, in the Nelson District Court during his 2010 fraud trial. He was found guilty and sentenced to five years and three months’ imprisonment. A convicted conman who orchestrated a multi million-dollar fraud changed his name and took thousands of dollars from tiny house clients before putting the company…
And it signals growing scepticism over the shared currency in Germany as voters become increasingly concerned by member states’ crippled economies. German bank ING-DiBa AG, based in Frankfurt, a subsidiary of the Dutch ING Group, says Mrs Merkel’s stance is a potential vote winner. And her Socialist rival Martin Schulz will all but shoot himself…
Collapsed Perth building company Builton has been placed in liquidation as creditors continue to raise questions over the relationship between the former company director and a series of syndicate companies that financed the construction of apartments. Creditors to Builton Group voted yesterday to wind up the company, with the administrator confirming there would likely be…
April 14th, 2017 Jason Jiang Asia, Offshore 0 comments Singapore offshore vessel operator Marco Polo Marine has proposed a refinancing and debt restructuring exercise of all its current secured and unsecured debts to strengthen its cash flow and working capital position. The company said the move is to ensure its business sustainability under current distressed…
Hundreds of workers from Marcs and David Lawrence stores will still lose their jobs in the next few days despite Myer’s last-minute rescue of the high profile brands. Myer announced on Thursday it would acquire the failed fashion brands which went into administration in February. Play Video Don’t Play There’s no housing bubble … in some…
Maybe it’s the memories that are bringing shoppers out to the closing J.C. Penney stores. No matter the reason, customers are showing up. As a result, the retailer has postponed the liquidation sales and closure dates for the 138 stores it plans to shutter this year, the company told CNBC exclusively. “Ever since the company…
“IT’S still the same old fun AM Bar” and “one of the last bastions of live music in Mackay”. That’s according to the general manager of Mackay Grande Suites, Steve Millar, who is the boss of the AM Bar, Cactus Jacks, Mackay Grande Suites and AM Grill. And despite news that the business which controls…
Myer has rescued troubled fashion brands David Lawrence and Marcs, buying them out of administration in a deal that looks likely to cost jobs at both high-profile fashion labels. Staff from both brands were informed that the department store owner had bought the operations from parent company M Webster Holdings on Thursday morning. Play Video Don’t Play There’s no housing…
Related Story: RSL SA boss and directors quit amid financial troubles The RSL South Australia has been placed into voluntary administration, but the league is vowing that services including Anzac Day commemorations will continue uninterrupted. RSL SA has been in financial trouble for months and several board members have resigned, along…