Developer Ray Grehan used the law firm at the centre of the Panama Papers investigation to shield assets from the National Asset Management Agency (Nama). Mr Grehan did not disclose to the agency his quarter share in a 50 million Dutch casino when it took over his debts of 300 million in 2010. He transferred…
Arrium Ltd (ASX: ARI) could be about to fold into voluntary administration as early as this afternoon. A report by the Australian Financial Review (AFR) states that the companys banking syndicate have agreed to lend the steel and iron ore producer an additional $400 million, but only if the company delivers itself into the hands…
A New South Wales tourism body has collapsed into voluntary administration, leaving many small businesses questioning whether they will continue to receive valuable marketing help and, in turn, money from visitors. Inland NSW Regional Tourism Organisation Incorporated appointed external managers on March 31. Bradd Morelli and Andrew Spring from Jirsch Sutherland have been appointed joint voluntary…
KUALA LUMPUR: Cliq Energy Bhd, which is undergoing a liquidation process after failing to acquire its qualifying asset within the stipulated timeframe, has appointed Crowe Horwarth Advisory Sdn Bhd to provide pre-liquidation services. The special purpose acquisition company told Bursa Malaysia that the services included review of the latest financial statements prepared by the company…
By Sophie Vorrath on 4 April 2016 One month after announcing a major streamlining of its business, ASX-listed clean tech energy retailer GO Energy has gone into voluntary administration, leaving rival businesses to try and pick up some of its contracts. The company, which was last year acquired by ASX-listed solar wholesaler SOLCO…
The voluntary administration of Australian retail chain Laura Ashley will continue until at least the middle of May, after the companys administrators were granted an extended time period for which to hold the second meeting of creditors. The Australian arm of Laura Ashley collapsed into voluntary administration on January 7, with Ross Blakeley, Quentin Olde…
The body responsible for promoting tourism across most of north and western New South Wales has gone into administration. Inland NSW was formed in 2011 in a merger between local tourism groups in the New England, Riverina and central and far west regions. Members were told on Friday that administrators had been called in…
Thomas Wells | Buy at photos.djournal.comHancock Fabrics has started closing its remaining 185 stores. Great American Group bought the rest of the Hancock stores at a bankruptcy auction Tuesday. The company expects the going-out-of-business sales to last several weeks. By Dennis Seid Daily Journal BALDWYN Even though Doyce Deas no longer has any financial stake…
Thomas Wells | Buy at photos.djournal.comHancock Fabrics has started closing its remaining 185 stores. Great American Group bought the rest of the Hancock stores at a bankruptcy auction Tuesday. The company expects the going-out-of-business sales to last several weeks. By Dennis Seid Daily Journal BALDWYN Even though Doyce Deas no longer has any financial stake…
U.S. Sen. Bob Menendez is cosponsoring legislation that would help protect individuals and families from financial devastation due to medical debt. According to the Consumer Financial Protection Bureau, 43 million Americans credit reports are negatively impacted by debt from medical expenses. Nearly 15 million consumers have medical debt with no other collection items on their…