The Zimglass factory in Gweru Lovemore Zigara, Midlands CorrespondentTHE countrys sole flint glassmaker, Zimbabwe Glass Industries (Zimglass), will meet creditors next week to pave way for liquidation. Zimglass, a subsidiary of the Industrial Development Corporation (IDC), was placed under judicial management in June 2014. The company took the liquidation route after failing to attract investors…
Dairy producer Aynes Gida Sanayi sought to postpone bankruptcy and failed to make a payment on a bond, as Russian President Vladimir Putins economic sanctions on Turkey claimed their first high-profile corporate victim. Ayness application to delay insolvency is part of its plan to suspend repayment of bank debt, according to Eren Yazicioglu, the Denizli-based…
The troubled software firm Bright Future has gone into liquidation leaving hundreds of employees out of a job. Eudie Thompson, chief executive, confirmed her company was no more after laying off 300 workers – including 180 apprentices – last week. Ms Thompson blamed the loss of a large contract and the withdrawal of a major…
THE Federal Government has got to be kidding if it thinks it is in anyway justified in refusing Labor access to secret volumes of the Heydon Royal Commission into union commission and then offering them to select cross bench Senators whose votes it needs. Fair enough if the government wants to bring back the Australian…
(Adds share performance, details throughout) By Guillermo Parra-Bernal Feb 2 Itaú Unibanco Holding SA plans to boost loan-loss provisions faster than rivals and slow loan disbursements this year, prompting shares to slump on Tuesday, as Brazil’s longest recession in over a century and slowing activity across Latin America bite harder than expected. Provisions could rise…
Written on the 1 February 2016 GLOBAL law firm Jones Day today opened an office in Brisbane, with legal eagle Brett Heading joining as partner. Heading previously served as chairman and partner of McCullough Robertson for more than 30 years, where he oversaw some big IPOs in that time, including the floats…
NATIONAL Australia Bank has refused to address key questions about testimony given by one of its senior executives to a Federal Court public examination of the collapse of builder Walton Construction. The bank has previously acknowledged that 10 months out from the Walton collapse it had $20 million exposure to the builder, the last amounts…
Prime Minister Malcolm Turnbull was once an investor in PlayUp, which went into liquidation last week. Photo: Justin McManus A sports media business backed with more than $70 million in funding by some of Australia’s business, political and sporting elite, including Prime Minister Malcolm Turnbull, has been placed into liquidation. PlayUp’s holding company, Revo Pty Ltd, did not contest a…
Prime Minister Malcolm Turnbull was once an investor in PlayUp, which went into liquidation last week. Justin McManus A sports media business backed with more than $70 million in funding by some of Australia’s business, political and sporting elite, including Prime Minister Malcolm Turnbull, has been placed into liquidation. PlayUp’s holding company, Revo Pty Ltd, did not contest a winding-up…
Reasons of Liquidation of a PT Based on article 142(1) of the Company Law, a PT shall be liquidated based on the following reasons: 1. resolution of the General Meeting of Shareholders (GMS) in which it resolves to liquidate the PT;2. expiry of the establishment period as mentioned in the Articles of Association (in case…