Employees at audit firm Nkonki have applied to a Pretoria court to block the companys liquidation and have it put into administration instead so that there is a chance the business can be rescued, according to a court filing. Last month, Nkonki said damage to its brand and uncertainty over future revenue streams had led…
DetailsShares and bonds of Reliance Communications Ltd. tumbled after an Indian court ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. Shares of RCom, as the company is known, plunged 15.3 percent to 10.5 rupees in Mumbai, while its 2020 dollar bonds…
DetailsShares and bonds of Reliance Communications Ltd. tumbled after an Indian tribunal ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. Shares of RCom, as the company is known, dropped as much as 9.7 percent on Wednesday…
DetailsBrokers and investment platforms have admitted they are powerless to prevent customer funds being tapped in the event of an insolvency, after a brokerage collapsed with huge ramifications for investors. Some clients of Beaufort Securities, which was closed by Financial Conduct Authority in March, have been told they will have to foot the bill for…
Detailsget out of debt San Diego Bankruptcy Legal Center, Bankruptcy To Get Out of Debt Bankruptcy Legal Center SAN DIEGO, May 16, 2018 (GLOBE NEWSWIRE) — For someone that is suffering from accumulating financial debt and bills that they can’t afford to repay, Bankruptcy can be a good option to help them get the relief…
DetailsIs it finally curtains down on one of the country’s biggest bankruptcies to go under the hammer? The National Company Law Tribunal (NCLT) yesterday approved Tata Steel’s Rs 35,200 crore bid for the beleaguered Bhushan Steel Ltd (BSL) with debt of over Rs 56,000 crore. This is reportedly Tata Steel’s second-biggest acquisition after the Corus…
DetailsOne of the UKs largest personal insolvency providers has opened a new office in Salford. Creditfix, which looks after tens of thousands of customers, has taken on 4,500 sq ft in the Lowry Mill. The site has been refurbished to accommodate the creation of up to 50 jobs. Chief executive Pearse Flynn believes taking the…
DetailsA Subiaco-based building contractor is poised to join the growing list of residential builders in Western Australia to go bust. The construction site on Emerald Street in West Perth. Photo: ArchiApps ArchiApps Pty Ltd was placed into liquidation on Wednesday afternoon, with Cameron Shaw and Richard Albarran of Hallchadwick appointed as liquidators. The company billed itself…
DetailsEvery page of the jaw-dropping MPs report on Carillion has detail to make the blood boil. No one comes out looking good: The Pensions Regulator was feeble; the Financial Reporting Council toothless; crown representatives to Carillion served no noticeable purpose. And thats before you get to the Big Four accountancy firms, or the Carillion directors…
DetailsRelated Story: One disaster to the next, a slice of Queensland paradise becomes a nightmare Related Story: Beleaguered Port Hinchinbrook sold after lengthy struggle The future of the troubled Port Hinchinbrook Resort in north Queensland has been thrown back into uncertainty with Oakland Investment Group flagging it will lodge…
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