A TOOWOOMBA building company has been placed in liquidation after an application to the Supreme Court by WorkCover and hardware giant Bunnings. Vincents Chartered Accountants director Nick Combis was appointed liquidator of the business on June 20. Mr Combis is yet to lodge any official reports with the Australian Securities and Investments Commission. WorkCover began…
DetailsSome are trying to keep cars and properties out of the hands of the bankruptcy officials and their creditors, with others suspected of illegally transferring assets to relations before opting for bankruptcy. The Insolvency Service of Ireland has disclosed it is investigating 210 cases. Hidden assets worth 3.8m were recovered in one instance, according to…
DetailsMEDINA, Ohio–(BUSINESS WIRE)–RPM International Inc. (NYSE: RPM) today announced that Michael H. Sullivan has joined the company as vice president operations and chief restructuring officer effective June 24. He will report directly to RPMs chairman and CEO Frank Sullivan, with whom he has no familial relation. In this capacity, Michael Sullivan will oversee RPMs 2020…
DetailsMore than 30 Monsoon and Accessorize stores could shut under the retailers restructuring proposals even though the company has stressed its plans involve no immediate closures. Monsoons proposed company voluntary arrangement, unveiled last week, envisages rent cuts of up to 65 per cent at 135 of its 258 stores. However, 36 of those will move…
DetailsA FARMING empire patriarch has responded to claims he and the company he was a director of traded while insolvent for 11 months. Giatano (Guy) Barbera has vigorously disputed the allegations in papers lodged in the District Court this month in which he has asked for a judge only trial. Mr Barbera and his company…
DetailsConcerns over rising numbers of children addicted to gambling has prompted the NHS to announce it will start treating young people. NHS England said the “scourge” of problem gambling was being fuelled by online gaming sites and targeted adverts. As a result, the National Problem Gambling Clinic in London would open its doors later this…
Details* Plans to sell rest of its tankers to repay debt * To complete Zhoushan oil storage project before selling a stake * Banking on e-commerce website for shipping industry By Florence Tan SINGAPORE, June 24 (Reuters) – Brightoil Petroleum Holdings Ltd could receive a restructuring proposal from Chinese banks in the third quarter while…
DetailsImage Source: Metal Bulletin x DOWNLOAD French SKTB Aluminium Declared Insolvent French SKTB Aluminium Declared Insolvent SKTB Aluminium a French downstream aluminium producer went into administration earlier this month after the local commercial court declared the company insolvent. The closure of SKTBs factory in Gorcy in north-eastern France followed a failed last-minute attempt to secure…
DetailsThe High Court has delivered a landmark decision in prioritising employee entitlements in insolvency, irrespective of whether the company was trading in its own right or as a trustee. Last week, the High Court dismissed an appeal in Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth of Australia and Others [2019] HCA 20.…
Detailsenvironment Insolvency documents for fossil-mining company Plaman Resources show there aremillions in the bank and few current liabilities. The offshore company, which had plans to mine a fossil-laden maar in Middlemarch for diatomite, quietly went into receivership late last week. When information from a leaked Goldman Sachs report hit the press, local support for the…
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