JOHANNESBURG – Absa Bank has applied for the liquidation of former Steinhoff CEO Markus Joostes Mayfair Speculators, the company that, until this week owned South Africas best racehorse, Legal Eagle, as well as hundreds of other racehorses, a property portfolio and a chunk of Steinhoff shares. READ: Steinhoff shares plunge 60% after CEO…
DetailsIndian conglomerate Adani Enterprises Ltd. needs as much as A$3 billion ($2.3 billion) in debt financing to help start producing Australian coal from one of the worlds largest mines, after major banks from Sydney to New York said they dont want to lend to polluting fossil-fuel projects. The company is seeking A$2 billion to A$3…
DetailsIndias new bankruptcy law is getting maximum traction from an unusual set of lenders, those with the least to gain from pushing companies into the insolvency process. Operational or unsecured creditors, who have dues that are not backed by any collateral, would be last in queue to be repaid once an insolvency plea succeeds in…
DetailsWith effect from 15 December 2017 Metalyst Forgings announced that the application filed by State Bank of India under section 7 of the Insolvency and Bankruptcy Code, 2016 (‘IBC 2016’) read with Rule 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 before National Company Law Tribunal, Mumbai has been admitted by…
DetailsTroubled online sport apparel retailer Surfstitch, which slipped into voluntary administration four months ago, no longer has a chief executive. The retailer’s administrators from FTI Consulting have announced that Mike Sonand will cease his role CEO as of Friday and will not be replaced at this time. Mr Sonand will continue as a director of…
DetailsAN ESTABLISHED Coast company has been wound up just days before Christmas. DT & WM Bodkin Pty Ltd, trading as Signarama Sunshine Coast South, went into liquidation on Thursday. The Australian Securities and Investments Commission’s insolvency notices website advised liquidator Dane Hammond of Worrells Solvency and Forensic Accountants was appointed this week. The insolvency notice…
DetailsAlphabet Inc said on Thursday its Executive Chairman Eric Schmidt will step down in January, ending a 17-year-run in which he played a central role in building a promising startup called Google into a global technology powerhouse. Mr. Schmidt will continue to serve on the Alphabet’s Board of Directors and act as an adviser on…
DetailsSAN FRANCISCO (Reuters) – Alphabet Inc (GOOGL.O) said on Thursday its Executive Chairman Eric Schmidt will step down in January, ending a 17-year-run in which he played a central role in building a promising startup called Google into a global technology powerhouse. He will continue to serve on the Alphabet’s board of directors and act…
DetailsBRADEN FASTIER/STUFF Chain Rigging and Scaffolding have closed their doors nd gone into liquidation on December 19. (file photo) A Taranaki scaffolding company has been put into liquidation by the Inland Revenue Department. Chain Rigging and Scaffolding Limited, a division of the Chain Group, was placed in liquidation on December 19 by the Commissioner of the…
DetailsBy Salvador Rodriguez and Sonam Rai SAN FRANCISCO (Reuters) – Alphabet Inc said on Thursday its Executive Chairman Eric Schmidt will step down in January, ending a 17-year-run in which he played a central role in building a promising startup called Google into a global technology powerhouse.He will continue to serve on the Alphabet’s board…
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