Yahoo7 and Agencies on April 12, 2016, 10:20 am Clive Palmer’s company Queensland Nickel has been recommended to go into liquidation after creditors reported debts in excess of $100 million. FTI Consulting says it has advised creditors to vote to wind it up at a meeting later this month, adding its corporate duties may have…
Related Story: Palmer had final say on millions spent at refinery, emails reveal The administrators of Clive Palmer’s Queensland Nickel have recommended liquidating the company in a report to creditors. The company, which previously ran the MP’s Yabulu nickel refinery, owes in excess of $100 million to creditors. FTI Consulting’s final…
KUALA LUMPUR (April 11 ): Cliq Energy Bhd’s management team led by managing director and chief executive officer Ahmad Ziyad Elias has filed a judicial review application, which aims to prevent the company from being liquidated. In a statement to Bursa Malaysia, oil and gas entity Cliq said the management team via Best Oracle Sdn…
Gift card holders have been left out in the cold by the Dick Smith collapse. Photo: Josh Robenstone Australia’s largest investment bank has backed a proposal to secure funds from the sale of gift cards in a trust so customers are not left empty-handed if the business collapses. The suggestion was made after customers were left with thousands of dollars…
KEYS HANDED OVER: Arrium’s Whyalla steelworks are now in the hands of a voluntary administrator. Photo: David Mariuz The owner of the Whyalla steelworks, Arrium, has been put into voluntary administration by the embattled group’s board, throwing into doubt the future of thousands of jobs at the steel plant in the northern South Australian regional city. The…
LOCAL telecommunications firm, Firstel Cellular, has approached the High Court seeking an order for provisional liquidation after being inundated by debts amounting to $12 million. BY CHARLES LAITON Firstel company secretary Tamuka Madzore, in an application filed in February, urged the court to consider their application arguing the firm was in dire need of assistance.…
This paper analyses the corporate insolvency resolution procedures of India, the United Kingdom and Singapore within a common framework of well-specified principles. India, at present, lacks a single, comprehensive law that addresses all aspects of insolvency of a firm. It has multiple laws, regulations and adjudication fora, each of which have created opportunities for debtor…
(ANSA) – Verona, April 7 – The opera company that stages concerts and shows at Verona’s ancient Roman arena is going to be put into liquidation by the Verona Arena Foundation, ANSA sources said on Thursday. The move follows Wednesday’s rejection by workers of a cost-cutting agreement signed by the foundation and trade unions. Workers…
REVELATIONS of the extent of tax avoidance being practised by some of Australia’s wealthiest individuals puts lie to claims by our Federal Treasurer the nation does not have a revenue problem. The so-called Panama Papers are likely to be just a section of a maze of avoidance including earlier revelations of iconic brands willing and…
If there is to be any chance of saving the Whyalla steelworks from the wreckage that is Arrium, it probably still lies with its bankers and the big four Australian banks in particular. Should the administration of Arrium, now overseen by Grant Thornton, follow a conventional course, its best asset the Moly-Cop grinding materials business…