Embattled insurance company CBL Corporation has put itself into voluntary administration to protect itself from the fallout of its troubled European business. (file photo) Photo: 123rf The company, which provides specialist insurance for the construction industry, said KordaMentha had been appointed as voluntary administrators for the New Zealand parts of the CBL group. “The directors…
West Australian subcontractors have been saddled with further debts totalling hundreds of thousands of dollars after major civil landscaping company BCL Group went into liquidation. The Wangara-based company’s collapse comes as the latest blow to the construction sector, after Cooper and Oxley and Choice Living both went into administration in the past month. BCL…
Monday, 26 February 2018, 9:57 amPress Release: KordaMentha KordaMentha New Zealand partners Brendon Gibson and Neale Jackson were appointed Voluntary Administrators by the Board of CBL Corporation Ltd (and certain of its subsidiaries) on 23 February 2018. Administrator Brendon Gibson said: We are working closely with CBLs management and its directors to execute strategies that…
Precedent Communications was operating at a substantial loss in the years leading up to the website developer being blamed for the biggest data breach in Australian history. The company fell into liquidation in December last year, 13 months after it was revealed that the personal records of 550,000 donors to the Red Cross Blood Service…
SINGAPORE – Crippled with a debt of US$877 million (S$1.16 billion), offshore services provider Otto Marine is seeking insolvency protection from the High Court in a bid to salvage the company and stave off liquidation. The troubled company, which has been delisted from the Singapore Exchange, filed an application on Tuesday (Feb 20) to be placed…
NZX-listed CBL Corporation has appointed voluntary administrators to prevent other regulators from taking action after the Reserve Bank moved to have interim liquidators take charge of its subsidiary CBL Insurance, managing director Peter Harris says. “That means that everything from hereon operates under a protective umbrella of voluntary administration,” Harris told the Herald. Harris said…
Insolvency Bankruptcy Board asks for comments on contents of Request for Proposal (RFP) New Delhi, Feb 24 (KNN) The Insolvency and Bankruptcy Board of India (IBBI) has invited public comments on contents of Request for Proposal (RFP), a release from Ministry of Corporate Affairs informed. An RFP is an invitation for resolution plans from…
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has sought comments on contents of Request for Proposal (RFP) document for applicants to bid for business insolvency resolution process. RFP, here means an invitation for resolution plans from prospective resolution applicants who wish to bid for business of a corporate debtor going through Corporate…
Overview In May 2016 the UK government published its Review of the Corporate Insolvency Framework – A Consultation on options for reform. Brexit may have taken over the economic and political landscape, but in the meantime other nations are reforming their insolvency laws. This article asks the question if the UK does not, does it…
* CBL insurance is largest division of CBL Corp * Central banks in NZ, Ireland probing CBLs French unit * CBL shares in trading halt since Feb. 5 (Adds CBL statement) SYDNEY, Feb 23 (Reuters) – New Zealands High Court placed insurance firm CBL Insurance Ltd, the main subsidiary of CBL Corporation Ltd, in interim…