Byrons creditors approved a CVA plan on Wednesday. As many as 20 restaurants could close as a result. Britains casual dining sector is suffering from a nationwide consumer spending squeeze. LONDON Creditors of stricken burger chain Byron have voted almost unanimously to approve a company voluntary arrangement (CVA), which could result in as many as…
DetailsThe Jersey arm of the UK’s second-largest construction company is being plunged into liquidation after buckling under a £200 million debt pile. The English domiciled Carillion PLC went into liquidation in 15 January 2018. Appointed to advise, a partner in offshore law firm, Carey Olsen, then appeared in the Royal Court of Jersey on Friday…
DetailsBy Kevin LimNikkei Markets SINGAPORE (Jan 31) — Singapore-listed Noble Group, responding to criticism of its latest debt restructuring deal, said the allegations that management was enriching itself at the expense of shareholders were unfounded. “Management are essential to the company’s business because its core businesses are ‘people businesses’,” the company said in a…
DetailsBoris Becker has empathy for a troubled Bernard Tomic, the German tennis great calling for some perspective around the struggles of the young Australian, who walked out of a reality TV show saying he was depressed. A former world No.17, Tomic has plummeted down the ATP rankings to 168 and his future on the court remains a mystery.…
DetailsOSBORNE Park builder Choice Living Homes has entered voluntary administration. Building Commissioner Ken Bowron temporarily suspended its building contractor registration last week because of concerns about its financial position and late yesterday announced it had voluntary agreed to external administration. Richard Lawrence from Hall Chadwick has been appointed as the administrator of the company, which…
DetailsLONDON–(BUSINESS WIRE)–Manolete Partners PLC, the UK Insolvency litigation funding specialist, is delighted to report that it has completed a £10m expansion financing. The additional new funds from HSBC Bank provide Manolete Partners with a £10m Revolving Credit Facility at a maximum margin of 2.75% above base rate. The new financing facility will be used to…
DetailsHOME builder Choiceliving Homes WA has gone into administration, calling in insolvency and business recovery specialists Cameron Shaw and Richard Albarran. Choiceliving appointed external administrators Hall Chadwick yesterday, days after WAs building watchdog declared it had suspended Choicelivings registration. Last Thursday, Building Commissioner Ken Bowron declared the authority had suspended the registration of Choiceliving, registered…
DetailsThe newly appointed administrators of NQR have moved to reassure staff and customers its Kangaroo Flat store is operating as usual as they begin a search for buyers. The grocery clearance company offers dramatic savings on weekly shopping bills and has 24 stores across metropolitan Melbourne and country Victoria. Last week it entered administration and appointed Bruno Secatore and Luke Targett…
DetailsWhether youve overspent at Christmas, racked up a big bill on a much needed holiday or just have a guilty habit of carrying a balance on your plastic, carrying debt around on your shoulders is never fun. And although figures from the Australian Banking Association recently showed that Aussies have cleared $260 million off our…
DetailsRelated Story: ‘Unusual’ trial against Linc Energy over alleged contamination in Queensland Linc Energy was aware it was causing environmental damage to parts of Queensland’s Western Downs, but allowed operations to continue, a District Court jury has heard. The gas company has pleaded not guilty to five counts of causing serious…
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