April 5, 2016 10:07 a.m. ET The long-running fight over how to divide the remnants of Nortel Networks Corp. continues Tuesday in a U.S. federal court, with creditors in Canada, the U.K. and the U.S. vying for a share of the $7.3 billion raised from the liquidation of the defunct global telecommunications giant. Nortels U.S.…
A company spruiking a land banking scheme in Maiden Gully has gone into liquidation, potentially costing investors millions of dollars. A provisional report, prepared by Deloitte prior to liquidation in March, reveals investors will likely only see a small fraction of the $3 million sunk into the Bendigo Vineyard Estate Pty Ltd project. Under the scheme, investors bought the right to bank land in…
MoneySavingExpert.com founder Martin Lewis has set up the new Money and Mental Health Policy Institute, funded with a pledged £2.1m donation over four years. Here he writes exclusively to explain why Debt and mental illness: a marriage made in hell 1. You are four-to-six times more likely to have debt crisis if you have mental health issues. 2. Half…
STOCKHOLM–(BUSINESS WIRE)–Regulatory News: Today, Hoist Finance (STO:HOFI) announces a strategic partnership that underpins the attractiveness of the Groups offering towards international banks, at the same time the agreement results in a new market entry. This is well in line with Hoist Finances established and prudent expansion strategy to become the preferred debt restructuring partner to…
Developer Ray Grehan used the law firm at the centre of the Panama Papers investigation to shield assets from the National Asset Management Agency (Nama). Mr Grehan did not disclose to the agency his quarter share in a 50 million Dutch casino when it took over his debts of 300 million in 2010. He transferred…
After many dramas and twists, this morning Tel Aviv District Court judge Eitan Orenstein sent Inbal Or’s company Or City Real Estate into liquidation. Reading his decision, Orenstein said there was “no hope of rehabilitating the company.” He ordered the appointment as liquidator to all the companies in the group the person who…
Developer Ray Grehan used the law firm at the centre of the Panama Papers investigation to shield assets from the National Asset Management Agency (Nama). Mr Grehan did not disclose to the agency his quarter share in a 50 million Dutch casino when it took over his debts of 300 million in 2010. He transferred…
Arrium Ltd (ASX: ARI) could be about to fold into voluntary administration as early as this afternoon. A report by the Australian Financial Review (AFR) states that the companys banking syndicate have agreed to lend the steel and iron ore producer an additional $400 million, but only if the company delivers itself into the hands…
A New South Wales tourism body has collapsed into voluntary administration, leaving many small businesses questioning whether they will continue to receive valuable marketing help and, in turn, money from visitors. Inland NSW Regional Tourism Organisation Incorporated appointed external managers on March 31. Bradd Morelli and Andrew Spring from Jirsch Sutherland have been appointed joint voluntary…
KUALA LUMPUR: Cliq Energy Bhd, which is undergoing a liquidation process after failing to acquire its qualifying asset within the stipulated timeframe, has appointed Crowe Horwarth Advisory Sdn Bhd to provide pre-liquidation services. The special purpose acquisition company told Bursa Malaysia that the services included review of the latest financial statements prepared by the company…