An embattled energy company in WA’s Kimberley region has gone into liquidation, ending a 10-year decline and leaving significant questions over who will pay their rehabilitation and decommissioning costs. Key points: Liquidators have only been able to recover $17,000 in bank accounts and have not been able to contact the company DMIRS says one of…
DetailsHundreds of jobs have been saved with the purchase of a shoe and podiatry retailer out of administration. Gareth Harris and Lee Lockwood of RSM UK Restructuring Advisory LLP were appointed joint administrators of Shuropody Retail Limited this week and have now secured the purchase of the business and assets of Shuropody in a pre-pack…
DetailsSteve, 18, first felt the thrill of gambling at the age of 15. His “first high” came when he won a couple hundred dollars while playing dice, he told ABC News. To speak candidly, he’s asked to be in shadow, to use a different name and alter his voice. Between 60% to 80% of high…
DetailsBUSINESS RESTRUCTURING REVIEWVOL. 21, NO. 6 NOVEMBER-DECEMBER 20221IN THIS ISSUE1 Fifth Circuit Rules on the Solvent-Debtor Exception and Make-Whole Premiums2 Lawyer Spotlight: Gary L. Kaplan5 U.S. Bankruptcy Court Can Enforce Foreign Restructuring Plan Providing for Cancellation of U.S. Law-Governed Debt9 Fifth Circuit Embraces Flexible Approach to Countryman Test of Executoriness in Bankruptcies Involving Multiparty Contracts13…
DetailsDive Brief: International Flavors & Fragrances plans to cut jobs as part of a comprehensive restructuring to optimize costs and streamline its business to better serve customers, the company announced at its Investor Day presentation on Wednesday. IFF is targeting annual savings of $100 million from the reduction. By the end of 2023, the company…
DetailsB. Bhavani assured her father she would quit online card games – a promise she had made several times. A few hours later, the 29-year-old took her own life. B. Bhavani assured her father she would quit online card games – a promise she had made several times before as her family in southern India…
DetailsWith inflation at record levels, making ends meet has become increasingly challenging for Americans. As of June 2022, consumer prices are up 9.1% year over year, which is the largest increase in four decades, according to the Bureau of Labor Statistics. Given this reality, its no surprise that debt among Americans is also surging. The…
DetailsAnalysts at AM Best have warned ahead of the second special session of Florida lawmakers that further insurer insolvencies are possible if immediate and substantive long-term reforms arent realised. Source: Rebecca Blackwell, AP Governor of Florida, Ron DeSantis, has called the session in order to work with the Legislature to introduce more competition and policies…
DetailsDec. 8A former postal carrier who used the position to receive cocaine shipments in an attempt to pay massive debts stemming from his gambling addiction, according to his lawyer was sentenced Wednesday to the two days he has already spent in jail and five years of supervised release. TIME SERVED DEFENDANT: Jesus “Doddy” Rodriguez, 53,…
DetailsLog in to your account FREE Sign up to Accountancy Daily and enjoy Unlimited analysis & case report access Exclusive surveys & industry updates And much, much more… Sign up Future threats can be mitigated and potentially avoided through proactive restructuring, and it is important to continually monitor the viability of a business, explains Niten…
Details