State-Owned Enterprises Minister Rini Soemarno has said the ministry is considering integrating flag carrier Garuda Indonesia and two airport operators PT Angkasa Pura I (AP I) and PT Angkasa Pura II (AP II) into an aviation holding company. We are studying the possibility of establishing a holding company, said Rini recently as quoted by tribunnews.com,…
DetailsNapoleon Perdis creditors have approved a $1.6 million proposal to save the business which will see its 28 stores remain open and more than 250 staff keep their jobs. The cosmetics retailer, which fell into administration in January, will be purchased by KUBA investments, run by cross-border retail investor Livia Wang and her business partner…
DetailsThe most recent bankruptcy study from personal insolvency firm Hoyes, Michalos & Associates revealed an outsized risk of insolvency among millennials in Ontario. As if that news werent concerning enough, the report also points to a significant risk within another important group. We continue to see a rise in women filing insolvency. As of 2018,…
DetailsHALIFAX In an April 3 story about the QuadrigaCX insolvency process, The Canadian Press incorrectly stated that if the company was transitioned to the bankruptcy process, creditors would be allowed to file lawsuits against the company and its affiliates. Though a court-ordered stay of proceedings would be lifted, that move would only be temporary, and…
DetailsThe WA Nationals will push the Commonwealth Government to wipe student debts for a broader range of job seekers who commit to living in regional WA for five years in the lead up to the Federal Election. Prime Minister Scott Morrison announced in February teachers would be eligible to have HECS debts waived if they…
DetailsIn a letter sent to the judge that ruled against his company in a lawsuit filed by one of its customers, Frama Seafoods Amado Rodriguez said his company is at risk of insolvency. Pinecrest, Florida-based Frama Seafood was ordered to pay more than USD 1 million (EUR 891,400) in compensation after California Superior Court Judge…
DetailsThe National Company Law Appellate Tribunal said it would decide on the insolvency of debt-ridden Reliance Communications Ltd. The Anil Ambani-led Reliance Group company has pleaded with the tribunal to go ahead with insolvency proceedings against it as it is unable to pay dues to its lenders. Swiss telecom gear maker Ericsson, which received its…
DetailsDear Sir,Sub: Outcome of 7th CoC Meeting of M/s. Southern Online Bio Technologies Limited scheduled on 8thApril, 2019.With reference to the subject cited above, I would like to inform you that the following matters are theoutcome of the 7th Committee of Creditors Meeting of M/s. Southern Online Bio Technologies Limitedheld on 8th April, 2019.1. Discussed…
DetailsUK Renewable Investments (AD) plc was wound up on 3 April 2019 by District Judge Khan in the Business and Property Courts in Manchester. The Official Receiver has been appointed as liquidator. In considering the petitions to wind-up the company, the court heard that between July 2015 and September 2016 UKRI sold corporate bonds to…
DetailsAustralias happiest profession are sports and recreation, while government and defence are the least happy, according to SEEK. The head of a recruitment company says businesses undervalue happiness. Positive business conditions ahead for Australias unhappiest profession New data from SEEK has found CEOs in Australia rate among the happiest workers in Australia, while Australias unhappiest…
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