In their April 29 report to creditors, Mr Hosking and Mr Hathway said they were also investigating a number of potentially voidable transactions including payments totalling $9.28 million made to Merhis Finance (a wholly owned subsidiary of Merhis Corp, which is wholly owned by Mark Merhi) and $18.46 million transferred to related companies in the…
DetailsMike Ashleys Sports Direct has fired off a legal challenge against Debenhams rescue restructure, which was approved by creditors last month. The legal challenge is the latest blow by Ashley in his battle with the department store, which was taken over by a syndicate of banks and hedge funds it owed money. The deal thwarted…
DetailsSteve Nicastro, Nerdwallet Published 8:00 a.m. ET June 11, 2019 CLOSE If debt is affecting your finances, you may have a share of the $4 trillion in non-housing debt tallied in the first quarter of 2019 by the Federal Reserve Bank of New York. Of all household debt, $623 billion is late or overdue, the…
DetailsFind out whether you can negotiate with your credit card company to lower your debt, but keep in mind the repercussionsit can have.
Commodity trader Trafigura has joined rivals Gunvor and Vitol in reporting a large rebound in profitability helped by oil market volatility, with the companys results boosted further by a restructuring programme. Profits at the privately owned group had fallen to an eight-year low in 2018 as it was caught on the hop by a shift…
DetailsLUSAKA (Reuters) Vedanta Resources on Tuesday plans to challenge the appointment of a provisional liquidator and the intended winding up of its Zambian business without the chance to be heard through lawyers of its choice, documents filed in court show. According to a notice filed in court on June 6, Vedanta wants to be represented…
DetailsWith the rise of online shopping and the e-commerce industry, it is no surprise that a number of high street stores, such as HMV and House of Fraser, have faced difficulties in recent times. Due to the ever-growing uncertainty of the market, more and more companies are becoming insolvent. But what does it mean if…
DetailsTreasurer Jackie Trad has told Queenslanders theyll have to swallow rising debt if they want more jobs and better hospitals. Ms Trad delivered her second budget on Tuesday, announcing a surplus for 2019/20 but with a sting: mounting state debt. Its a $7.3 billion debt increase Queenslanders have to accept. But Ms Trad says the…
DetailsDear Sir/Madam This is to inform you that the Honourable National Company Law Tribunal (NCLT), Hyderabad Bench has passed the order on 03/06/2019 (uploaded on website on 08/06/2019) admitting the petition CP(IB) No.679/7HDB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by the Financial Creditor IDBI Bank Limited and initiating the Corporate…
DetailsASX-listed CommsChoice Group is planning to restructure its business, which will see its offshore call centre downsized with key functions moving back to Australia and about eight staff made redundant as it aims to remove non-core costs from operations and sales areas in Australia. The company also plans to pump more resources into its key…
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