High-profile Australian fashion labels Marcs and David Lawrence have collapsed under debts of close to $30 million, including close to $3 million in worker entitlements and a $700,000 debt to the tax office. The appointment of voluntary administrators to two of the country’s best-known fashion brands leaves close to 1200 workers facing the the loss of their livelihoods as insolvency specialist Rodgers Reidy reviews…
Pretoria – The attempted business rescue of RBA Holdings appears to have failed and the company is set to be liquidated. Trevor Glaum, RBAs business rescue practitioner, confirmed on Tuesday that he would be applying to the Western Cape High Court today, or as soon as possible thereafter, to discontinue RBAs business rescue proceedings and…
Shutterstock photo (Adds Cemig securities filing on 9th paragraph) By Guillermo Parra-BernalSAO PAULO, Jan 31 (Reuters) – The Brazilian state of Minas Gerais has no plans to sell the controlling stake it has in power utility Cia Energética de Minas Gerais SA as a condition to join a federal government-backed debt relief plan,…
DALLAS, TX–(Marketwired – February 01, 2017) – N.D.B. COMPANY INC.’s, an affiliate of North Dallas Bank & Trust Co. (Bank), Board of Directors has set March 31, 2017 as the record date for the distribution of the proceeds from the liquidation of N.D.B. COMPANY, INC. Distributions will be made April 7, 2017, on a pro…
Leading fashion brands David Lawrence and Marcs has been placed in voluntary administration. Administrator Rodgers Reidy’s director Geoffrey Reidy says the two brands would continue to trade while his team reviews their operations ahead of a planned sale of the businesses. The sole director of the companies operating the labels, Malcolm Webster, says it has…
N.D.B. COMPANY, INC. Announces Record Date of Liquidation Distribution, Affiliate of North Dallas Bank & Trust Co. (NODB) SOURCE: North Dallas Bank & Trust Co. February 01, 2017 10:04 ET DALLAS, TX–(Marketwired – February 01, 2017) – N.D.B. COMPANY INC.’s, an…
Douglas Aerospace is back painting planes in the hangar it was forced to vacate after defaulting on a building loan from ratepayers. RETURN FLIGHT: The company responsible for wasting $120,000 of ratepayer money after defaulting on a loan from council is back in business. Regional Express (Rex) has licensed the hangar to Douglas Aerospace for their paint activity…
LAST night workers of W.E. Smith were notified the company had been placed in voluntary liquidation. This followed delays in pay, superannuation and company signs changed in front of the factory last week. The W.E. Smith logo was painted over and gates to factory locked. January 25, 2017. Keagan Elder W.E. Smith CEO William Van…
Enterprise Software Architects, formerly known as The Frontier Group, has blamed non-payment from two big customers for its fall into liquidation. The Perth-based company went under owning more than $600,000 to creditors, including $438,474 to the Australian Taxation Office and $149,390 to TIBCO Software, according to documents filed with industry regulator ASIC. The company, which was founded…
DAYTONA BEACH, Fla.–(BUSINESS WIRE)–Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (CTO or the Company) today sent a letter to Wintergreen Advisers, LLC (Wintergreen) in response to the letter publicly filed by Wintergreen on January 23, 2017. The company also issued the following statement: Wintergreens position with regard to its proposed director nominations has no legal merit.…