The financial affairs of controversial KwaZulu-Natal businessman Sunny Gayadin and how he managed to fund failed litigation over the ownership of Durbans Natal Command will come under scrutiny now that his company Giant Concerts has been placed in final liquidation. Gayadin died in May 2017. His body was found with a gunshot wound to his…
CLOSE Toys ‘R’ Us Chief Executive Dave Brandon addressing employees at the company’s Wayne headquarters on Wednesday, March 14, 2018. NorthJersey.com Going out of business signs at the Wayne Toys R Us.(Photo: Record staff) Story Highlights Liquidation sales generated about $150 million more than forecast for this stage. Court approved additional funding for Asian and…
Employees of Bhushan Steel Ltd recently objected to the bid from Tata Steel Ltd, which was eventually declared the successful applicant. Photo: Reuters Mumbai: Noting the key role of employees in companies undergoing bankruptcy proceedings, lenders and bidders are paying extra attention to ensure resolution plans take care of their interest to avoid any disruption in…
By Aishwarya Bagri Should homeowners be treated as financial creditors in the real estate sector? This was the question that the Insolvency Law Reforms Committee recently addressed. Set up in December 2017, the 14 member committee has published a 106 pages long report, suggesting various amendments to the Insolvency and Bankruptcy Code 2016. One such…
The board of Blue Sky-owned artisan baker Wild Breads has appointed the advisory arm of McGrathNicol, a move that raises doubts about the financial health of the under-seige asset manager’s trophy investment. In a statement to the Australian Securities Exchange on Wednesday, Blue Sky said that the board of Wild Breads had engaged with Inline…
CLOSE The Younkers store at Marshfield Mall is one of 12 stores across the state in danger of closing if Bon-Ton Stores Inc. does not resolve its financial problems, the company said Friday, April 6. Jamie Rokus/USA TODAY NETWORK-Wisconsin Bon-Ton Stores Inc. is the parent company of Boston Store, Younkers and other department stores.(Photo: Milwaukee…
EMPLOYEES will not see a cent from Riverside Meats after the Echuca company announced it was going into voluntary liquidation last week. And they are furious. Seven workers who spoke to the Riverine Herald say the hand they have been dealt 30 workers are still owned $622,526.46 is cruel. The money owed to the abattoir…
MoU was signed for collaboration in research, publication and advancement of knowledge New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Indian Institute of Corporate Affairs (IICA). The MoU was signed for collaboration in research and publication, advancement of knowledge, capacity building, awareness and advocacy…
“All sides of politics are very good at saying small business is the engine room of the economy but it is bloody hard to run that engine if you don’t have petrol and that petrol is finance,” Carnell says. “You can’t grow a business if you don’t have access to finance , it’s that simple.” Jobs…