Mumbai: The National Company Law Tribunal on Wednesday admitted Indian Overseas Banks petition seeking initiation of corporate insolvency resolution process against textiles manufacturer Shrivallabh Pittie South West Industries. Indian Overseas Bank, one of the financial creditors, had dragged the debt-laden firm to NCLT over non-payment of dues after it failed to make a payment of…
DetailsOct 11 (Reuters) – Sri Lanka, mired in its worst economic crisis in decades, is in debt restructuring talks with a range of bilateral creditors, including China, its largest single creditor. The island nation of 22 million suffered its first foreign debt default in May 2022. In March, Sri Lanka secured a nearly $3 billion…
DetailsCredit: Nourish Foods / X Australias Nourish Foods has been snapped up by Tempo Group of Companies after entering voluntary administration earlier this year. The healthy kids snacks business hired administrators last month due to a lack of working capital. Financial details were not disclosed. John McInerney and Matt Byrnes of accounting firm Grant Thornton…
DetailsFounders Dereck and Diti Hales The owners of Melbournes Bad Shepherd Brewing Co. have announced the decision to appoint an Administrator to help facilitate a financial restructuring of the business. Owners Dereck and Didi Hales have appointed DBA Advisory as Administrator, noting the company is supporting the continued operation of the business Bad Shepherds employees…
DetailsThe boss of a failed plumbing firm that owes $12 million to creditors has copped criticism after appearing to splash his cash on an overseas holiday. In August, news.com.au revealed that Victorian-based C & S Plumbing Pty Ltd had gone into liquidation with all 70 employees losing their jobs on the spot. More than 100…
DetailsBad Shepherd Brewing Co, based in the Melbourne Bayside suburb of Cheltenham, have this week entered voluntary administration as they seek “to facilitate a financial restructuring of the business”. Founders Dereck and Diti Hales (pictured above) said they had taken the decision to enter voluntary administration to deal with the financial losses the business has faced over the last few…
Details(Corrects paragraph 1 to say Honeywell is restructuring its business to focus on three broad trends, not restructuring business to three segments from four; also removes reference to new segments in paragraph 4) Oct 10 (Reuters) – Honeywell International is restructuring its business operations to focus on three broad business trends in its efforts to…
DetailsOct 10 (Reuters) – Honeywell International (HON.O) is restructuring its business operations to focus on three broad business trends in its efforts to boost sales growth and reallocate capital, the company said on Tuesday. The development comes as aviation suppliers are seeing a faster-than-expected rebound in air travel. The Charlotte, North Carolina-based company’s shares were…
Details(Reuters) – Honeywell International is restructuring its business operations to focus on three broad business trends in its efforts to boost sales growth and reallocate capital, the company said on Tuesday. The development comes as aviation suppliers are seeing a faster-than-expected rebound in air travel. The Charlotte, North Carolina-based company’s shares were up 1.43%, at…
DetailsReuters. Honeywell (NASDAQ:) announced today plans to restructure its business segments to align with three significant megatrends: automation, the future of aviation, and energy transition. This strategic shift aims to drive accelerated organic sales growth and capital deployment, ultimately delivering greater value to shareholders. The new segmentation will come into effect in the first quarter…
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