Boris Becker was a tennis phenom in the 1980s and 1990s. The former world No. 1 won 49 titles, six Grand Slams, and an Olympic gold medal during his pro career. Over the course of his career, Becker made $25 million in prize money and $130 million in total earnings. Despite his massive riches from…
DetailsNews of a business restructuring at Motherson Sumi Systems Ltd drove down the shares of the auto components supplier by about 5.4% on Friday. The complex restructuring has two components. One, Motherson will de-merge its domestic wiring harness (DWH) division, which will be listed eventually. Two, promoter holding company, Samvardhana Motherson International Ltd (Samvardhana) will…
DetailsThe Australian division of T.M. Lewin Australia has collapsed into administration, jeopardizing around 40 jobs in Melbourne, Sydney and Brisbane. EY has taken on the administration process, after private equity subsidiary Torque Brands purchased T.M. Lewins UK parent, and commenced a stringent restructuring operation. TM Lewin, is a British online menswear retailer. It was started…
DetailsKAVINDA HERATH/STUFF Dave Hewetts financial position was described in the creditor compromise offer as being exhausted. Former All Black Dave Hewett has done a deal with creditors to prevent the liquidation of his home-building business. Hewett, the sole director and shareholder of Bainbridge Homes, sought a deal with creditors after realising the company could not…
DetailsAuntie evades the cops Pathum Thani police are tracking down a mysterious loan shark lender to answer claims she hired a man to beat a vendor who owed her money, leaving him with permanent brain damage. The woman, aged 65-70, dresses plainly and lugs a large rubbish sack around with her, supposedly containing the cash…
DetailsWarning: This article discusses suicide and could be upsetting to some readers. The family of an Auckland businessman who took his own life during the liquidation of his company have spoken out about the tragedy. Lloyd Green was found dead in December 2016. Green had mental health issues that he hid from his family and…
DetailsQUEENSLAND companies are collapsing by the dozen as the nation’s businesses head towards an economic cliff when COVID-19 support ends. In the final month of the financial year, 63 Queensland companies collapsed into liquidation or administration. The numbers remain below the average monthly collapses, which hovered around 100 per month prior to COVID-19. Liquidator Brendan…
DetailsThe remaining assets of former dairy co-operative, Murray Goulburn, have been placed into voluntary liquidation. Most of the assets of the once dominating dairy processor were sold to Saputo in 2018, but a shell company remained to finance litigation and pay for the costs of winding up the company. The company had its roots in…
DetailsA little over a year ago, 30-year-old Clare Seal was 27,000 in debt, and in denial. Ten years of living month to month, two pregnancies and a Pinterest-perfect wedding had caused her to lose her grip on her familys finances and avoiding the issue was easier than asking for help. Calls from the bank were…
DetailsIN 16 years of business in Central Queensland Geoff Gumley estimates he has lost between $250,000 to $400,000 in bad debt from other companies who owe him money who are now in liquidation. The owner of CQ Fasteners, which has stores in Rockhampton and Yeppoon, said while it is very frustrating, it has just become…
Details