22 September 2016 Lara Bullock Herbert Smith Freehills has created a new guide to help companies and lenders navigate the various insolvency regimes in the Asia-Pacific region. The Restructuring, Turnaround and Insolv… Read the full…
September 21st, 2016 Holly Birkett Europe, Finance and Insurance, Tankers 0 comments A bankruptcy court in New York has approved Primorsk International Shippings (Prisco) liquidation plan, reports say. Prisco filed a voluntary petition in January for reorganisation under Chapter 11 in the US Bankruptcy Court for the Southern District of New York, saddled with $262.2m…
BBJ Wednesday, September 21, 2016, 09:50 Retail store operator Palóc Nagykereskedelmi, which announced last week that Hungarian-owned retail chain CBA had canceled its franchise contract for all its 80 stores, reportedly voluntarily filed for bankruptcy at a local court in Balassagyarmat yesterday. Last week the company had said its stores would reopen this week. The…
September 21, 2016 | 5:21 PM by A. E. JAMES/[email protected] Majority state-owned Port Services Corporations revenue started declining substantially after the government shifted commercial activities of Muscat port to Sohar port in August 2014. Photo – File Muscat: An extraordinary general meeting of the shareholders of Port Services Corporation, the operator of Muscat port, will…
Pictured: Stephanie Carr and Johnston Clark Blackadders has appointed Stephanie Carr to take up the role of leading the firms Glasgow office after 15 years with Harper Macleod, where she served as a partner in the insolvency department specialising in contentious personal and corporate insolvency law. With many years experience in commercial litigation and debt recovery, Ms Carr is a…
ALDEN WILLIAMS/FAIRFAX NZ Indian spice store, Sun 2 Moon in Johnsonville, was put into liquidation on Monday. In August the ERA fined the owner $53,000 for exploiting a migrant worker. The owner of a Wellington grocery store recently ordered to pay than $53,000 for exploiting a migrant worker has put his company into liquidation, claiming it cannot…
Citation Resources has appointed KordaMentha as voluntary administrators, while the oil and gas company continues to pursue recovery of funds allegedly misappropriated by former director Peter Landau. Perth-based Citation said today it had entered voluntary administration, with Richard Tucker and Scott Langdon of KordaMentha appointed to oversee the companys affairs. The board advises that it…
Theres been strong interest from buyers for Queensland regional trucking business Kurtz Transport after the business was placed in voluntary administration this month. Administrators from Ernst & Young were appointed to manage the company on September 12, with Justin Walsh and Duncan Clubb acting as joint administrators of Kurtz Transport Pty Ltd and Kurtz Holdings Pty Ltd. The business,…
For the moment, Eastern Oregon Regional Airport no longer has commercial flights. The Oregonian is reporting that SeaPort Airlines, the only commercial airline to service the Pendleton airport, will cease operations. In a court hearing Tuesday, a judge ordered the company be converted to a Chapter 7 liquidation effective at noon Wednesday. The Oregonian is…
By SN Ananthasubramanian and Eshwar Sabapathy The Insolvency and Bankruptcy Code, 2016, intended to provide for an enactment to consolidate and amend the law relating to re-organisation and insolvency resolution, has given rise to a new breed the insolvency professional, who holds the key to insolvency resolution. The World Banks Doing Business Report states that…