The beleaguered Honeydew Dairies has been placed under provisional liquidation by the Pietermaritzburg high court. The company and all other interested parties have until February 8 to give reasons why the dairy should not be finally wound up. In addition, the master of the high court has been directed to appoint a provisional liquidator to…
DetailsIn a tale of gambling addiction posted to Reddit shortly before Christmas, the numbers were as shocking as they were unsurprising. First the anonymous addict frittered away $200 (£149), in November 2016. Then $700 more, later that month. Then $300, $400, $1,500 eventually, by December 2017, a credit card debt of $16,000, too large to…
DetailsGambling has become a social plague in Georgia, especially in the countryside. But institutions are very slow in regulating this sector (Originally published by Chai Khana ) When 28-year-old manual laborer Elshan Gulmammadov took to the slot machines in the Georgian town of Marneuli last year, all he wanted was money for the birth of…
DetailsThe year 2017 saw the big banks introduce a slew of measures, from scrapped ATM fees to new ethical codes, all intended to boost their battered reputation and fend off a royal commission. In the end these measures were not enough, and in late November Prime Minister Malcolm Turnbull folded to political pressure and called a royal commission.…
DetailsPoor Christmas sales for Australia’s retailers could actually help Oroton’s new owners, led by fund manager Will Vicars, as they prepare for a fight with some of Australia’s biggest landlords. Mr Vicars, the chief investment officer at Caledonia, signed a deal with Oroton’s administrators on December 23 to rescue the business, which collapsed in November.…
DetailsMUMBAI: Castex Technologies, a subsidiary of automotive component maker Amtek Auto with debt of over Rs 6,000 crore, has been admitted to bankruptcy court. State Bank of India (SBI), the lead bank, initiated bankruptcy proceedings in the Mumbai bench of the National Company Law Tribunal (NCLT). Castex Technologies, a provider of iron cast auto components,…
DetailsMore than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far. With 470 cases admitted by the National Company Law Tribunal (NCLT) under the IBC, most experts are keenly watching the outcome of the…
DetailsMore than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far. With 470 cases admitted by the National Company Law Tribunal (NCLT) under the IBC, most experts are keenly watching the outcome of the…
DetailsNEW DELHI: The government will give promoters of insolvent companies more time to repay their dues and participate in the resolution process of bankrupt companies in the Bill that will replace the ordinance that was promulgated last month to amend the Insolvency and Bankruptcy Code (IBC), ET has learnt. The changes proposed in the Bill…
DetailsCapping a breakout year, Roku announced Scott Rosenberg will be promoted from advertising chief to GM of its platform business in January in an executive restructuring. Steve Shannon, a 5-year veteran who headed the content and services unit, will be exiting the company. Under Rokus new executive structure, staff and resources for advertising, content distribution…
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