Picture: African News Agency (ANA) Archives Johannesburg – In a bizarre twist, a former Gupta company is taking on another of the familys companies in a bid to recover R4million in unpaid rent and services. Business rescue practitioners for Tegeta Exploration and Resources – which is under business rescue – have filed for the liquidation…
DetailsEden Road Wines is being pulled from voluntary administration. Creditors (those owed money) agreed on Friday to accept an offer from shareholders that will allow the winery to remain open while the debt of $3,457,711 is paid. Up until the previous Friday, January 25, a sale of the winery was on the cards in order…
DetailsConstruction industry reform is overdue and change is needed urgently. Theres no doubt the property sector is experiencing a downturn, with projects put on hold and more builders going into liquidation. Those who can afford it least suffer most. As the downturn continues, it is the subcontractors who are feeling the most pressure. Subbies comprise…
DetailsMUMBAI: The Department of Telecommunications has refunded Rs 298 crore to Aircel, bringing relief to the bankrupt mobile phone operator that has been struggling to maintain its assets ahead of their sale as part of an ongoing insolvency process and pay its employees their dues. Deloitte, which is overseeing the last leg of a corporate…
DetailsTegeta Exploration and Resources has applied to the Gauteng High Court for the liquidation of its sister company, Oakbay Investments, claiming it owes it R3.8 million in rental and services arrears. Tegeta business rescue practitioner Kurt Knoop says in an affidavit that Oakbay is unable to pay its debts and is therefore liable to be…
DetailsDETROIT (Reuters) – Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year as a result, part of a global restructuring meant to end losses in different regions. As part of a broader restructuring that Ford previously said would…
DetailsCDA is pleased to announce CommonBond as a CDA Endorsed Program that offers competitive student loan refinancing as a new member benefit. Student loan debt is one of the largest financial hurdles a dentist may face. The average educational debt for all indebted graduates in the class of 2018 for U.S. public and private dental…
DetailsKerio Valley Development Authority (KVDA) MD David Kimosop (in a white shirt) on a tour at Kipsaiya in Marakwet West where Arror multi-purpose dam will be constructed. [Fred Kibor/Standard] Treasury Cabinet Secretary Henry Rotich is the latest top-ranking official to be questioned over stalled Sh65 billion dam projects in the country. Mr Rotich recorded a…
DetailsFlybmi operated 17 regional jet aircraft on routes to 25 European cities. The airline carried 522,000 passengers on 29,000 flights in 2018. The majority of Flybmis 376 employees across the UK, Germany, Sweden and Belgium have been made redundant, although some have been retained to assist the joint administrators. A spokesperson for Flybmi said: The…
DetailsThere can be many twists and turns over the life of a business, but one of the more serious (and usually final) turns is when it declares insolvency. A recent spate of high profile collapses, most notably music retailer HMV, cake chain Patisserie Valerie, and department store House of Fraser, have all brought…
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