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…
Stock Exchange Release Talvivaara Mining Company Plc 20 September 2016 Status of Talvivaara’s reorganization proceedings The Company has started preparations for the conversion issue in accordance with the restructuring programme Talvivaara Mining Company Plc (“Company” or “Talvivaara”) announces that today it has received a statement from the Administrator of its corporate reorganization proceedings in which…
Sept. 20, 2016 2:31 p.m. ET Primorsk International Shipping Ltd. won final bankruptcy-court approval of a liquidation plan that divvies up proceeds from the sale of its oil tanker fleet to Russias Sovcomflot. Primorsks chapter 11 case got off to a rough start after a fight with lenders but, during a hearing in Manhattan Tuesday, a lawyer…
By Eleanore D. Sanchez Owning your first home may be a dream come true, but it is a reality that you will miss repayments due to unavoidable circumstances, and may have to refinance to deal with the burden of debt. The Australian Securities and Investments Commission (ASIC) cites some circumstances to avoid so that you…