International finance of ocean-going vessels and other maritime assets such as off-shore oil and gas equipment is currently experiencing what could be described as a perfect storm: Many owners looking to refinance newer assets in their fleet ordered their construction and locked into efficient funding before the global financial crisis of 2007/8. And according to…
Melbourne-based maker of antipasto products Pronto e Fresco entered voluntary administration on Wednesday and is up for sale. Smart Company reports that the 100 per cent Australian-owned company, which was established in 2000, produces vegetable products including semi-dried tomatoes, roasted peppers, grilled mushrooms, grilled eggplant, grilled pumpkin and other unique char-grilled and marinated vegetables. Pronto…
Abengoa SAs majority shareholder sweetened its offer to creditors in talks aimed at avoiding bankruptcy, agreeing to further reduce its stake in the Spanish renewable-energy developer, according to three people familiar with the matter. Inversion Corporativa IC SA, controlled by the family of Abengoas founder Javier Benjumea, told creditors it would cut its holding to 5 percent…
March 3, 2016 6:35 p.m. ET Retailer Sports Authority Holdings Inc. received court approval on Thursday to use a portion of its $595 million bankruptcy loan and to begin liquidating a number of its stores. At a hearing in U.S. Bankruptcy Court in Wilmington, Del., Judge Mary Walrath said the company could use up to $275 million of its…
©Bloomberg Royal Bank of Scotland and GE Capital have sold more than 2bn of non-performing Italian corporate loans to the private equity firm AnaCap, in a sign that the long-awaited clear-out of the countrys bad debts is gathering pace. UK-based AnaCap will acquire a 1bn portfolio from each of the two lenders. The loans were…
A Melbourne-based manufacturer of antipasto food products is for sale, after the business collapsed into voluntary administration on Wednesday. Pronto e Fresco Pty Ltd has been operating for more than 15 years and is based in the Melbourne suburb of Broadmeadows. The business supplies antipasto products such as semi-dried tomatoes, olives and grilled vegetables to…
Comments Print /License AA Target Canada was close to a deal with its key creditors on Thursday that could pave the way to ending the U.S.-owned retailers year-long-plus insolvency saga. Target Canada collapsed under court protection on Jan. 15, 2015, closing all 133 of its stores here within three months and letting go its 17,600…
To revive the financial sector in India currently plagued with stressed assets, FM Arun Jaitley in Union Budget 2016-17 vowed for comprehensive bankruptcy code, which will be enacted and brought in to deal with illicit deposit taking schemes. Declaring financial sector reforms as one of the “nine pillars” of Budget 2016-17 Jaitley stated that such…
PERTH (miningweekly.com) Trading in the shares of minerals developer Triton Minerals was unexpectedly suspended on the ASX on Thursday as the company went into voluntary administration. The administrators were working with the company to review its operations and financial position, and to formulate potential strategies to preserve and restructure the company and its operations. Earlier…
STACY/SQUIRES/FAIRFAX NZ. Kaizuka Eatery and Garden Bar was issued a full on-licence in March 2014 and operated on the licence for about six months before a visit from council licensing officers. The Christchurch bar that closed last Sunday following a stoush with the city council is in liquidation. The owners of Cashmere establishment Kaizuka Eatery and Garden Bar… Read the…