David White STUFF.CO.NZ Workers turned up to a new Ebert Construction site on Wednesday to find they were locked out. Collapsed construction company Ebert has links to another bust building company. Ebert Construction was placed into receivership on Wednesday, owing potentially $40 million, according to the receivers PwC. The company was working on 15 projects, i……
DetailsThe bill aims to help over-indebted poor people who dont have the same options as wealthier debtors in distress. CAPE TOWN – Parliaments Trade and Industry Committee has removed a controversial clause from the National Credit Amendment Bill it is working on, that would have given the minister, Rob Davies, broad powers to…
DetailsThe High Court in Johannesburg has granted an order allowing for the immediate liquidation of VBS Mutual Banks largest shareholder, thereby allowing liquidators to begin trying to recover as much as half of the R1.5bn that was stolen from depositors of the bank. Acting Deputy Judge President Moroa Tsoka wasted no time on Tuesday in…
DetailsDESSERT king Adriano Zumbo appears to have gone to ground amid shock claims his company has gone into voluntary administration. On Wednesday afternoon, the companys phone went unanswered and its website also appears to be down. The last social media posts by the company and Zumbo himself have made no mention of the reported predicament,…
DetailsAround 13% of companies in Wales may have suffered a financial hit following the insolvency of a customer, supplier or debtor in the last six months, according to new indicative research from the Welsh branch of R3, the insolvency and restructuring trade body. The Welsh figure is lower than the proportion of UK companies reporting…
DetailsRelated Posts Kevin Cash struck gold during his 20s, managing to build an estimated £500 million (around R8,7 billion) fortune. He was less lucky in the marriage department, but they say the fourth times the charm. His most recent marriage is to South African model Carla La Reservee, with the pair having tied the knot back in…
DetailsAt Leeds Crown Court [Tuesday 31 July] former company director Jonathan France was sentenced to 10 years, as well as being disqualified as a company director for 12 years. Also at court were his accomplices Jody Firth and Graham Myles Schofield having assisted Jonathan France carry out his dishonest activities. Jody Firth was sentenced for…
DetailsLINCOLN, Neb.–(BUSINESS WIRE)–Jul 31, 2018–Nebraska Book Holdings, Inc. (NBC) announced today, July 31, 2018, that it has successfully completed the restructuring of its balance sheet eliminating the substantial majority of its legacy long-term debt. Going forward the company will have a capital structure that will enable growth and profitability. This was accomplished by NBCs major…
DetailsThe Clean Energy Finance Corporation could weigh in with debt funding to help support the Snowy 2.0 pumped hydro mega-project as well as the investment required in transmission to help get the power to consumers, chairman Steven Skala has revealed. Mr Skala said that while wind and solar power were rapidly becoming fully cost competitive,…
DetailsA second building company has gone under this week, with Maven Interiors, known as M-INT, being placed into voluntary liquidation on Tuesday. Neither Maven Interiors director Allan Tribble nor liquidator Andrew Oorschot could be reached for comment, but a voicemail on the firms main phone said it was moved into voluntary liquidation and a liquidator…
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