Brisbane connectivity and industrial networking provider Ethernet Australia has entered voluntary liquidation, with debts totalling close to $3 million. The company ceased trading after key supply contracts with customers were terminated without warning, and appointed liquidator David Clout and Associates on 28 October, with a creditors meeting taking place on Tuesday 8 November. As part of…
This article appeared first on The Stock Market Blueprint Blog. In this edition of Watchlist Wednesday, we highlight five of the top stocks qualifying for the Net-Net Working Capital (NNWC) screen. NNWC is similar to the NCAV screen except it is more stringent. Graham knew that companies undergoing liquidation would not necessarily sell all current assets at book value.…
The Coolamon community has rallied behind its embattled sport and recreation club, pitching in $16,000 to keep it afloat. On Tuesday The Daily Advertiser revealed the club was on the edge of falling into voluntary administration, after board members were told more than $360,000 was owed to creditors and police were investigating missing funds from the clubs Keno facilities.…
The Coolamon community has rallied behind its embattled sport and recreation club, pitching in $16,000 to keep it afloat. On Tuesday The Daily Advertiser revealed the club was on the edge of falling into voluntary administration, after board members were told more than $360,000 was owed to creditors and police were investigating missing funds from the clubs Keno facilities.…
McDowells Business Reporter McDowells International (Pvt) Limiteds provisional liquidator Winsley Militala is pushing for the companys final liquidation as it has no prospects of becoming a successful concern after losing its money lending licence to the Reserve Bank of Zimbabwe.The company is currently under provisional liquidation after its money lending licence was cancelled by the…
The owner of a rogue tyre recycling business has been accused of failing to pay his suppliers hundreds of thousands of dollars and of deliberately liquidating debt-ridden companies to escape creditors, as the Queensland Government looks at ways to shut down the business. Tony Di Carlo’s Tyremil group of companies remain under investigation by…
Published: 7 Nov 2016, 09:45 By: The saga of The Solar Cloth Company (TSCC) has taken a further twist after Base Structures, the company which acquired the failed installers assets, filed for liquidation itself. Crowdcube-funded TSCC entered administration in June this year, however various parties immediately stepped forward and expressed an interest in acquiring its…
The receivers for struggling children’s clothing chain Pumpkin Patch are continuing to look for a buyer for the business after announcing a bunch of store shutdowns and job cuts last week. KordaMentha, the receiver for the ailing retailer, had said late last month it had received interest in the business from a few parties. Joseph…
Imperial Banks head office in Westlands, Nairobi. Directors and shareholders of the bank have blamed CBK for the loss of Sh38b. [PHOTO:BEVERLYNE MUSILI/STANDARD] The High Court in Nairobi has stopped the Central Bank of Kenya (CBK) from liquidating Imperial Bank Ltd (IBL) until the relevant legal provisions are complied with. Justice George Odunga, while delivering…
David Unwin/FAIRFAX NZ Paul Burr’s forestry company remains in liquidation, with a lack of funds holding the process up. The liquidation of a company linked to a high-profile forestry-related manslaughter prosecution remains in stasis, amid allegations of the director not co-operating with liquidators and funds running dry. Paul Burr put his company, Paul Burr Contracting…