Carillion used suppliers to prop up a failing business model and conceal true levels of debt, say MPs investigating the failed government contractor. The parliamentary inquiry into the collapse of a company that provided a host of vital public services, including catering in schools, prison maintenance and construction of new NHS hospitals will conclude on…
DetailsFashion retail group Noni B Limited (ASX: NBL) is banking on a major turnaround in the struggling Australia retail sector after it paid Specialty Fashion Group (ASX: SFH) $31 million for a portfolio of its loss making brands. Noni B Group has agreed to acquire the assets and businesses of Millers, Katies, Crossroads,…
DetailsThis reflects the political orthodoxy that voters are essentially self-seeking. Give them a tax cut and they’ll give you their vote, to hell with the deficit. Loading And there was a time when most voters did behave accordingly. But that’s ancient history. It changed decades ago. The pollsters asked a representative sample of 1200 voters:…
DetailsThis reflects the political orthodoxy that voters are essentially self-seeking. Give them a tax cut and they’ll give you their vote, to hell with the deficit. Loading And there was a time when most voters did behave accordingly. But that’s ancient history. It changed decades ago. The pollsters asked a representative sample of 1200 voters:…
DetailsThe Insolvency and Bankruptcy Code (IBC), 2016 no doubt is a path-breaking initiative in the whole reform process. Not surprisingly, it has triggered huge debate and one of the key grey areas that had emerged in a recent cases pertained to rights of the customers in an insolvency process. The Supreme Court had reportedly indicated…
DetailsStewart Little, NSW PSA general secretary, said the government was quietly getting rid of “experienced and knowledgeable men and women who give you a fair hearing”. This restructure plan is a disaster for the public servants whose jobs are on the line, and it’s a disaster for anyone who’s been unfairly fined,” Mr Little said.…
DetailsDeloitte also criticised the M and A Group’s record keeping. “We note that we have been provided access to the company’s management accounting file maintained through [accounting software] Xero. “However, this file appears incomplete and unreconciled. “It is our preliminary opinion the books and records have not been maintained in accordance with Section 286 of…
DetailsMay 13, 2018 9:00 a.m. ET Talk about flipping the script. The office tower at 180 Maiden Lane, a 1.2 million square-foot building in downtown Manhattan that once housed troubled insurance giant American International Group Inc., is getting a new tenant: consumer-debt resolution company National Debt Relief. The property is a short stroll from 33…
DetailsKKR has put sandalwood company Santanol Group on the market in the latest twist for the plantation industry based in northern Australia. Santanol Group owns about 2000 hectares of plantations with more than 560,000 sandalwood trees in Western Australia and Queensland. Grant Samuel is advising on the sale of 100 per cent of Santanol Group…
DetailsA GOLD Coast schoolboy was kidnapped, bound and held captive over a multimillion-dollar gambling debt, police will allege. The 12-year-old boy cannot be identified for legal reasons. The terrifying ordeal ended near a police roadblock in the northern NSW town of Grafton on Saturday afternoon, almost 24 hours after the 12-year-old high school student was…
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