Last year 1,962 SA companies went to the liquidation wall. The figure could have been lower if more companies in financial distress had opted for business rescue. “Business rescue provides a moratorium to shield a company in distress from creditors wanting to put it into liquidation,” says Haroon Laher, Norton Rose Fulbright SAs head of…
Two Queenstown lodges placed into receivership in February have sold, but they and their sole shareholding company have now been placed in liquidation. Evergreen Lodge, at Sunshine Bay, and Remarkables Mountain Lodge, on Kingston Rd, were sold by tender for a total of $3.87 million. However, the second receivers report says both property companies and…
Business owners in central west New South Wales say they are not sure whether they will recover millions of dollars owed by a mining company that has gone into receivership. The Mineral Hill mine, north of Condobolin in the Lachlan Shire, has been put into care and maintenance after the owner KBL Mining Limited…
Oct 14, 2016 7:01 AM [NEW YORK] Electronics maker HP Inc on Thursday said it expected to cut 3,000 to 4,000 jobs over the next three years as part of a restructuring plan adopted earlier this week. The plan should generate gross annual savings of US$200 to US$300 million beginning in 2020 but will also…
The pensions lifeboat that was BHSs biggest creditor when it collapsed into administration is demanding the companys imminent liquidation in a bid to accelerate investigations into former directors. Sky News has learnt that the Pension Protection Fund (PPF), which has taken on responsibility for paying retirement benefits to thousands of former BHS employees, has told…
By Tracy Rucinski and Jim Christie (Reuters) – Former telecommunications equipment company Nortel Networks Ltd reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel stumbled from…
By Tracy Rucinski and Jim Christie Former telecommunications equipment company Nortel Networks Ltd [NRTLQN.UL] reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion (5.98 billion pounds) raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel…
MXG on the TSXOTC:MXGFF on the OTCBB Maxim Power is an independent power producer based in Canada but with it’s major operations in the Northeast United States, followed by France, with the Alberta power market it’s smallest. Maxim shareholders have suffered for a very long time, with promises of growth stymied by the company’s lack…
AVON, Conn.–(BUSINESS WIRE)–Voluntary carriers surveyed in Eastbridges Administrative Practices of Voluntary Carriers study continue to see increased requests for online self-service capabilities at both the employer and employee levels. Those mentioned most frequently include an online/portal for payments and bill reconciliation, online claims submission for employees, and enhanced integration of all technologies being utilized (enrollment,…
BUSINESSES remain concerned about the upcoming changes with Brexit, but insolvency numbers have fallen during this third quarter. According to a survey from Pinsent Masons, 62% of the UK insolvency industry believe that Brexit will lead to an increase in business failures over the next year. However, new analysis from KPMG has showed that despite economic…