Abengoa SA said it has laid the groundwork for an agreement with creditors to restructure debt as it maneuvers to avoid becoming Spains largest corporate insolvency. Investors will provide financing of as much as 1.8 billion euros ($2 billion) to the renewable energy company in exchange for 55 percent of its capital, Seville, Spain-based Abengoa…
JOHN KIRK-ANDERSON Stonewood Homes founder Brent Mettrick has appointed liquidators to the building firm’s shareholder company. Stonewood Homes’ shareholder company has been placed in liquidation, a move that will put the firm’s senior management under scrutiny. Stonewood Homes founders Brent and Sue Mettrick asked Ernst & Young liquidators Rhys Cain and Rees Logan to take over Holmfirth Group Ltd on Thursday. Holmfirth Group Ltd,…
A homewares business that had been operating for just over 20 years has collapsed into liquidation. Earthborn Pty Ltd appointed external managers late last month, with David Stimpson and Terrence Rose from SV Partners appointed joint liquidators. Earthborn has more than 10 retail stores across Queensland, including in the Indooroopilly Shopping Centre, Westfield Clarindale and…
Shanghai Exactly a year ago, Premier Li Keqiang set out the case for difficult industrial overhauls. This is not nail-clipping, he warned, its like taking a knife to ones own flesh. The comments recalled his fearsome predecessor Zhu Rongji who eliminated 30 million jobs practically in one go in a clean-up of state enterprises in…
STACY/SQUIRES/FAIRFAX NZ. Kaizuka Eatery and Garden Bar was issued a full on-licence in March 2014 and operated on the licence for about six months before a visit from council licensing officers. Unsecured creditors will likely be left out of pocket after troubled Christchurch bar Kaizuka entered voluntary liquidation. Kaizuka Limited co-owner Dwayne Vaughan last w… Read the full article at: http://www.stuff.co.nz/business/77698738/Creditors-unlikely-to-be-paid-back-following-Kaizuka-bar-liquidation
This time last year shares in G4S were 300p, surpassing their level of 2012, the calamity year in which the firm failed to supply enough security guards to the London Olympics. Ashley Almanza, the chief executive recruited to bring order to the sprawling empire built by predecessor Nick Buckles, seemed to be halfway to success.…
Get an inside look at Wall Street with StreetInsider Premium. Get your 2-week free trial here Moody’s Investors Service, (Moody’s) has changed Abengoa S.A.’s (Nasdaq: ABGB) probability of default rating (PDR) to Ca-PD/LD from Ca-PD. Concurrently, the corporate family rating (CFR) of Abengoa S.A. (Abengoa), and the senior unsecured ratings at Abengoa, Abengoa Finance, S.A.U.…
Bank chiefs have launched a loan-restructuring scheme for indebted businesses where lenders work together to help firms to reduce their debt burden. The UAE Banking Federation (UBF) revealed the plan yesterday aimed at struggling small and medium-sized enterprises (SMEs). The move comes as progress on the countrys long-awaited insolvency law, which contains a similar framework…
In mythology, Cerberus was the multi-headed dog that guarded the underworld, whom Hercules subdued and brought into the daylight. It may not be a giant guard dog, but the US fund Cerberus Capital Management has grown to become a very big beast indeed in Irish affairs over the last two years. In that time, it…
The bankruptcy filing by a company that owns shuttered ethanol plants at Ravenna and York lists millions of dollars in debts to Nebraska companies and local governments that may not be repaid. Spanish company Abengoa S.A.’s U.S. subsidiary, Abengoa Bioenergy U.S. Holding LLC, filed for Chapter 11 bankruptcy last month. In bankruptcy documents, it lists…
