news FINANCIAL STRESS: Mackay Spare Parts closed in February after becoming insolvent. Campbell Gellie THE declining number of people in Mackay falling into financial ruin could be a sign of a more robust and confident economy, CQUniversity law lecturer Lance Rundle says. Recent data from the Australian Financial Security Authority indicates fewer people fell into…
Anne D’Innocenzio, Associated Press Published 4:46 a.m. ET March 22, 2018 | Updated 6:45 a.m. ET March 22, 2018 CLOSE Take a trip back to your younger days with one of the nation’s best-known retail chains. USA TODAY A woman shops at a Toys R Us store in Alhambra, Calif. Dec. 19, 2017 Toys ‘R’…
A high-level panel looking into various aspects of the insolvency law is expected to finalise its report this month wherein recommendations for “targeted amendments” will be made to the government, a senior official said. A rising number of cases involving stressed assets are being taken up for resolution under the Insolvency and Bankruptcy Code (IBC),…
NEW YORK Toy company executive Isaac Larian says he and other investors have pledged a total of $200 million in financing and hope to raise four times that amount in crowdfunding in order to bid for up to 400 of the Toys R Us stores being liquidated in bankruptcy. The unsolicited bid still faces…
By Abha Bhattarai, Right after Christmas, Danielle Stevens and her husband drove an hour and a half to the nearest Babies R Us to start a registry for their first child. The main draw, Stevens said, was the companys endless earnings program, which promised 10 percent cash back in the form of a…
Creditors of luxury handbag retailer Oroton (ASX: ORL) will vote next week on a $25 million rescue plan that will hand control of the company to major shareholder Will Vicars. The company’s administrator, Deloitte, has recommended creditors vote in favour of a deed of company arrangement that would return between 36 and 58…
Joan Verdon, USA Today Network Published 1:32 p.m. CT March 21, 2018 | Updated 1:39 p.m. CT March 21, 2018 CLOSE Interview with Sheena Henderson of Knoxville outside the Toys “R” Us on Kingston Pike, the day after the company announced plans to close its 800 stores. Jim Gaines, USA TODAY Network – Tennessee This…
The other key arguments Dalmia has made in the affidavit are… – UltraTech’s second resolution plan was submitted after the final submission date set out by the resolution professional. By then Dalmia had already been selected as the winning bidder. – Two plans cannot be submitted by an applicant as per clauses laid down in…
SEBI plans to bring in additional disclosure requirements for listed corporates undergoing insolvency resolution process as well as amend norms pertaining to minimum public shareholding norms and other provisions for such entities, a senior official said. The proposal comes at a time when there are increasing number of cases coming up under the Insolvency and…
By Valentina Za and Simon Jessop A tale of two hotels: Italy’s bad loan sales hang in the balance MILAN/LONDON (Reuters) – The Hotel Dei Dogi, a lagoon-side palazzo in Venice, will be renovated in the autumn for the first time in 20 years after a U.S. investment firm snapped up the debts of its…