Big-spending election loser Clive Palmer was absent from court as his lawyers were lambasted by a judge overseeing Queensland Nickels liquidation trial. Days after his federal election campaign failed to win his party a seat, Palmer on Tuesday sought to introduce evidence into the trial over his companys collapse that workers had started receiving their…
DetailsICharter Limited was incorporated in November 2014 as a travel agency for private clients, with offices in Chatham, Kent. The company, however, entered into Creditors Voluntary Liquidation on 5 March 2018 after it could not pay debts of more than 127,000. Insolvency Practitioners were appointed to wind-up the company and their report to the Insolvency…
DetailsNine has confirmed it will no longer continue with some of its smaller sporting events as part of the latest restructuring of theformer publishing empires assets. The $31 million sale to endurance sports company, The IRONMAN Group, include events like The Sun-Herald City2Surf presented by Westpac, The Sydney Morning Herald Half Marathon, Carmans Womens Fun…
DetailsAustralian LGBTIQ publication Star Observer has announced the company has entered voluntary administration and is up for sale. The publication announced on Thursday the board of directors of the company, Gay & Lesbian Community Publishing Limited, had appointed Trent McMillen from MaC Insolvency as administrator on Friday, May 10. Advertisements Cash flow is the lifeblood…
DetailsDoug Ford had a private plan to surprise Ontarians. His first budget would recast him as a kinder, gentler premier. Not too tough, not too soft just right. It didnt go according to plan. By holding back the bad news under the guise of a good-news budget Fords Tories are belatedly paying a heavy price.…
DetailsDETROIT – Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10 percent of its global salaried workforce. The major revamp, which had been underway since last year, will save about $600 million per year…
DetailsFord Motor is laying off 7,000 salaried employees as part of CEO Jim Hacketts restructuring plan to reduce bureaucracy, cut costs and turn the automaker into a more agile company prepared for a future that extends beyond its traditional business of producing and selling cars and trucks. The cuts represent about 10% of the automakers…
DetailsRobert Smith, a private equity executive worth an estimated $4.47 billion, is donating approximately $40 million of his fortune to pay off the student loan debt of the graduating class of Morehouse College. Morehouse, an elite, all-male historically black college in Atlanta, had a graduating class of 396 this year. Graduates of historically black colleges…
Details(Adds details, context) CARACAS, May 20 (Reuters) – Venezuelas opposition has hired veteran debt lawyer Lee Buchheit to help restructure the countrys more than $150 billion debt burden, suggesting it could take a tough approach to dealing with investors holding defaulted bonds. Buchheit, a former Cleary Gottlieb attorney who has represented several governments in debt…
DetailsNEW YORK–(BUSINESS WIRE)–Global law firm Goodwin announced today that Howard Steel has joined its Financial Restructuring practice as a partner in the New York office. Steels arrival comes on the heels of the firms West Coast expansion of the practice with the recent addition of partner Nathan Schultz in San Francisco. Steel represents creditors committees,…
Details