Fred Troncone ran the Wellard Rural Exports business until 2015 and was recently appointed to the board. A Wellard non-executive director has been pulled back into the live export business to take over responsibility for its day-to-day operations from founder and chief executive Mauro Balzarini. The appointment of former Wellard senior manager Fred Troncone as…
DetailsOil and gas software developer Stochastic Simulation has entered into liquidation, around five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best case scenario. The Osborne Park-based company developed products such as GasAssure and ResAssure, which were used in evaluation of reservoirs and…
DetailsThe bankruptcy of US retail giant Toys R Us will have flow-on impacts to one of Australias biggest toy brands, with one insolvency expert calling on small businesses to do everything they can to protect themselves against the collapse of distributors. The US arm of Toys R Us filed for chapter 11 bankruptcy protection on…
DetailsAustralia | 12:11 PM Brickworks continues to derive benefit from strong construction activity on Australia’s east coast but, beyond the next 6-12 months, the outlook is more uncertain. -Rising energy costs envisaged eroding margins in FY18-Property earnings and profits expected to ease from highs-Strong building product order book, not expecting demand to slow for 12 months …
DetailsThe bankruptcy of US retail giant Toys R Us will have flow-on impacts to one of Australias biggest toy brands, with one insolvency expert calling on small businesses to do everything they can to protect themselves against the collapse of distributors. The US arm of Toys R Us filed for chapter 11 bankruptcy protection on…
DetailsIt may be difficult for banks to dispose of personal properties given as a collateral for a loan when the company is referred to the National Company Law Tribunal (NCLT). The Chennai bench of NCLT ruled that if promoters or directors of a company have pledged their personal property and the committee of creditors (CoC)…
DetailsTHE WIDESPREAD effects of the collapse of Ostwald Bros has become clearer as administrators establish roughly how much money the company owes to creditors. PricewaterhouseCoopers revealed the company owed at least $61million to creditors, including companies and businesses across the Maranoa region. Among the creditors owed money from Ostwalds are Maranoa Regional Council, Roma Rugby…
DetailsHewlett Packard Enterprise is cutting 5,000 jobs as part of a wider effort to slash costs at the company, Bloomberg reported. The layoffs will affect about 10% of HPEs workforce, including employees both in the US and abroad, according to the report. HPE will start making the cuts before the end of the year, Bloomberg…
DetailsUNITED NATIONS (AP) The latest on the U.N. General Assembly meeting (all times local): 7:40 p.m. Antigua and Barbuda’s prime minister is pleading for debt relief to help rebuild from Hurricane Irma, which decimated the tiny island of Barbuda and forced the evacuation of its entire population. Prime Minister Gaston Alphonso Browne tells the U.N.…
DetailsThere were no famous athletes at Nike’s annual shareholder’s meeting Thursday, no fashion models, little of the customary glitz and glamour, perhaps befitting a new era of austerity and resurgent competitors. “This was a particularly challenging, difficult time,” said Mark Parker, Nike chief executive, president and chair, said of the company’s just-ended fiscal year. “Having…
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