SINGAPORE (Reuters) – Noble Group Ltd (NOBG.SI) faces a key shareholder meeting on Monday as the shrivelled commodity trader races to clinch a last-ditch $3.5 billion debt restructuring deal to stay afloat and put a three-year crisis behind it. FILE PHOTO: The company logo of Noble Group is displayed at its office in Hong Kong,…
DetailsDavid Lenz, Hills Limited Distributor Hills Limited has returned to profit following a period of restructuring and business changes. The company reported net profit after tax of $400,000 for the year ending 30 June 2018, which it referred to as a significant turnaround from the prior years loss of $7.9 million. Hills revenue was…
DetailsOne of the documents lawyers are often asked to prepare is a letter of demand. A letter of demand is usually issued in relation to an outstanding debt and will often warn of legal action unless the debt is paid by a date. However, the humble letter of demand can also sometimes give rise to…
DetailsPAYDAY loans giant Wonga is said to be on the brink of going under. The company was kept afloat three weeks ago thanks to a £10million emergency cash injection from shareholders. PA:Press Association Wonga is allegedly preparing for administration But sources say it merely encouraged a new wave of compensation claims for alleged unfair debt…
DetailsNATHAN Tinkler has always been very good at collecting enemies. The one-time billionaire’s volatility and reputation for not paying his debts has seen him fallout with countless friends and people hes worked with, even his own family. Amid the wreckage of his collapsed business empire is his only sibling Donna Dennis and former trusted lieutenant Troy Palmer, both…
DetailsBritains biggest payday lender, Wonga, is teetering on the brink of collapse following a surge of customer compensation claims in recent weeks that could cause it to call in administrators. The short term loan provider has reportedly lined up Grant Thornton the accountancy firm, to handle a potential administration of the company should its board…
DetailsWonga, the UKs biggest payday lender, is considering insolvency following a surge in customer compensation claims in recent weeks. On Sunday, the company confirmed that it was assessing all options after a sharp rise in complaints from customers claiming they should not have been given loans. Placing the UK business into administration is understood to…
DetailsIn a nod to his idol, Mr Wilson renamed several of his previous failed ventures after fictional businesses in the movie Wall Street and its sequel Money Never Sleeps just days before they were put into external administration in 2015. Poster for the hit 1987 film. Two of the collapsing companies in his Mider property…
DetailsDirectors who have dissolved companies to avoid paying workers or pensions could be disqualified or fined by authorities for the first time. The move is part of a government initiative to safeguard workers, pensions and small suppliers when a company goes bust. The Observer reported in January that the government was preparing to crack down…
DetailsImage copyright Getty Images Image caption There have been several high-profile company insolvencies in 2018 so far Company bosses who dissolve their firms to avoid paying off staff or meeting pension commitments will risk being hit with fines, under new government plans. Ministers want tougher insolvency laws, after recent high-profile collapses devastated workers and pension…
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