IMAGE:With companies folding like a deck of cards due to COVID-19, there is no time more critical than now to conduct research into insolvency laws. The man handed that mission,… view more Credit: Singapore Management University SMU Office of Research & Tech Transfer – Big or small, businesses across the world are threatening to topple…
DetailsBRI Ferrier, the external administrator of now-bankrupt forex broker Union Standard International Group PTY LTD (USGFX), has issued a notification informing its decision to put the broker under immediate liquidation. This came two weeks ahead of the expiration of the extending convening period for the administrator. The Most Diverse Audience to Date at FMLS 2020…
DetailsGround-handling firm Swissport is set to be taken over by a group of creditors under a 1.9 billion ($2.3 billion) debt-for-equity swap as part of an extensive financial restructuring. Once the process is completed, seven institutions a group collectively known as AHG will control more than 75% of Swissports equity, unless a third party is…
DetailsDate: 31.08.2020 Liquidators have remuneration and funds-handling application approved Redstar’s late model prime movers and trailers were eventually sold off via auction New details have emerged on the complex company structure of Redstar Transport and its liquidation process, which has been ongoing since December 2018. Liquidators Martin Francis Ford and Stephen Graham Longley recently applied…
DetailsWith more SMEs and NFPs under financial stress, directors must be alert to the signs of insolvency. As economic activity ramps up following COVID-19, directors of many organisations are facing brutal business realities. After thebushfire disastersandthe lockdown, many are in significant distress and the outlook for cashflow is grim. Following on from long days and…
DetailsIn this year of coronavirus and stay-at-home orders, quite a few companies in the retail sector have declared bankruptcy, including Modells, J. Crew, Neiman Marcus and the parent company of Mens Wearhouse. Just because a company declared bankruptcy doesnt mean its going out of business; bankruptcy is often used by companies to reorganize their debts…
DetailsSINGAPORE (THE BUSINESS TIMES) – Keppel Corporation, which owns a 40 per cent stake in upstream oil and gas company KrisEnergy, on Sunday (Aug 30) said it is prepared to support the final restructuring proposal of the debt-hit firm. In a bourse filing, Keppel Corp said it has evaluated KrisEnergy’s debt workout plan, which it…
DetailsChina says it has struck agreements with half of the 20 low-income nations that have requested debt restructurings as part of their efforts to tackle the coronavirus pandemic. Work on this is progressing well, the Chinese foreign ministry said, adding that the World Bank and major developed nations still held most of the debt of…
DetailsATLANTA The Coca-Cola Co. is reorganizing, reducing its number of operating units from 17 to 9 and creating a platform services group. Platform services is intended to improve scale and expertise throughout the nine new operating units. We have been on a multi-year journey to transform our organization, said chairman and chief executive officer James…
DetailsLaunched in Australia back in 2017, Miniso is headquartered in Guangzhou, China, It is understood the company suffered from a lockdown decline in foot traffic, and it did not have a very strong e-commerce strategy. Minisos local landlords, including ASX-listed centre owners Scentre Group, GPT Group, Vicinity Centres and Stockland, are not receiving rent payments…
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