Edcon Holdings Ltd said lenders extended waivers to give the debt-laden South African retailer time to implement a recapitalisation plan that was approved by its board. The restructuring and recapitalisation of Edcon has passed its next hurdle, chief executive officer Grant Pattison said in an emailed statement on Friday. This will allow sufficient time for…
DetailsThe Danish Maritime and Commercial High Court has officially declared the bankruptcy of Qudos Insurance. Following this development, the non-life insurer whose operations were not only in Denmark but also in France, Germany, Greece, Ireland, Italy, Malta, Norway, Sweden, and the UK is now part of the failed firms list provided by British compensation fund…
DetailsABOUT400 employees, including those in Dubbo, are facing an uncertain Christmas after the national freight company Redstar Transport Pty Ltdwas placed in liquidation. Redstar Transport has offices in Dubbo, Melbourne, Sydney, Brisbane, Adelaide and Perth. A callto the Redstar office in Dubbo for a comment wasntanswered, but it is believed that the Dubbo office employs…
DetailsAidan Mark Newman, aged 47 and from Woking, was the sole director of Montrose Design & Build Limited, a company that was incorporated in February 2015 and carried out residential building work. After only two years, Montrose Design & Build struggled to be profitable and had to cease trading before entering into creditors voluntary liquidation…
DetailsABOUT400 employees, including those in Dubbo, are facing an uncertain Christmas after the national freight company Redstar Transport Pty Ltdwas placed in liquidation. Redstar Transport has offices in Dubbo, Melbourne, Sydney, Brisbane, Adelaide and Perth. A callto the Redstar office in Dubbo for a comment wasntanswered, but it is believed that the Dubbo office employs…
DetailsGhana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law. The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses,…
DetailsDear Sir / Madam, We would like to inform you that the brief particulars of the invitation for expression of interest in Form G as required under the applicable provisions of the Insolvency and Bankruptcy Code, 2016 read with rules and regulation made thereunder has been published on the website of the corporate debtor. The…
DetailsRestructuring is so common in both the private and public sectors that many workers will experience one after the other, in an ongoing series of upheavals. Can this really be good for business? What impact is the constant threat of restructuring having on employee wellbeing and workplace culture? This year has seen restructuring and layoffs…
DetailsRicha Roy and Zubin Mehta On the second anniversary of the Insolvency and Bankruptcy Code (Code) many of its achievements deserve celebration including fostering credit discipline and improving upon a culture of impunity. And yet, there has been a gamut of reactionary amendments to the Code, the intent and timing of several of which raise…
DetailsDont wait for the New Year to tackle debt, manage your festive season spending and start 2019 financially fit. Every year we see an increase of about 28 per cent on credit card spending over the December period, but, with careful planning and clever management of this inevitable increase in spending, you can enjoy your…
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