The company behind the Wanderlust festivals in Australia and New Zealand has been placed into liquidation. And there is definitely no calming for the burgeoning group of creditors who claim they are owed tens of thousands of dollars. scenestr has been contacted by local suppliers and small busnesses claiming they are owed from $300 to…
DetailsET Bureau| Jan 18, 2018, 12.54 PM IST If relationship with any of the above comes to notice or arises subsequently, it has to be notified within three days of such notice, said IBBI. MUMBAI: Insolvency professionals will now have to disclose their relationship with all associated parties including the corporate borrower and lenders within…
DetailsJosephine Cumbo, Pensions Correspondent January 18, 2018 Carillions 27,500 member pension scheme was placed on a risk list by UK authorities in autumn last year, as the troubled construction company was still being awarded government contracts. Carillion entered insolvency on Monday with the Pension Protection Fund, the industry scheme that pays compensation to pension plan…
DetailsLast assets of Masakeni to be auctioned today It is the end of the road for a Port Elizabeth construction company, with its last remaining assets going on auction today. Masakeni Construction, previously based in Markman, was declared insolvent in May and had to let go 300 employees in July. The companys former director,…
DetailsSHERMAN OAKS, Calif.–(BUSINESS WIRE)–Woodbridge Group of Companies, LLC and certain of its affiliates and subsidiaries (together the Company or Woodbridge), announced today that the Company has added three new members to its Board of Managers (the Board) to direct the business and affairs of the Company and the Debtors chapter 11 restructuring efforts. This Board…
DetailsDepartment store retailer operator Myer said on Thursday it had appointed Nigel Chadwick as chief financial officer as part of a broader management restructuring in the face of stiff challenge from online retailers. Mr Chadwick will replace current CFO Grant Devonport, Myer said in a statement and highlighted Mr Chadwick’s work in sectors facing disruption.…
DetailsNevadas largest casinos wrote off $70.1 million in casino credit as unpayable in the most recent fiscal year, according to figures from state gaming regulators. The information was made public in the annual Nevada Gaming Abstract. The figure represented 0.6 percent of gaming revenue in the fiscal year that ended June 30, 2017. The 272…
DetailsRoyal Bank of Scotland signs are seen at a branch of the bank, in London Thomson Reuters LONDON (Reuters) – Royal Bank of Scotland staff helping small firms to restructure debt during the financial crisis were given a list of ways to squeeze more money from struggling clients and told to “Just Hit Budget!”, a…
DetailsDETROIT, Jan. 17, 2018 /PRNewswire/ — Business restructuring attorney Ashley J. Jericho has joined the Detroit office of McDonald Hopkins LLC, a business advisory and advocacy law firm, as an Associate. Jericho has over nine years of insolvency experience, including representing consumer and business debtors, creditors and trustees in bankruptcy proceedings, contested matters and adversary proceedings.…
DetailsPayments to Carillion executives have ceased (PA) Carillions collapse raises questions over weak corporate governance Independent.ie The Insolvency Service has ceased payments to Carillion executives, but questions are still raised over the strength of corporate governance at the collapsed construction and facilities management firm.How much were former executives actually earning in the lead up to…
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