There”s certainly no shortage of investors looking to clean up from cleaning up Just days after Downer’s $1.2 billion offer for Spotless came to an end – with Downer lifting its stake to just below the compulsory acquisition threshold – Phil Cave and Callen O’Brien’s Anchorage Capital Partners has signed a deal to acquire TJS Services. Founded by…
DetailsLiquidators are working to realise the assets of collapsed building company Queensland One Homes in the hope of recouping millions for creditors of the business, as insolvency experts say the east coast of Australia and the construction sector are areas to watch for company collapses. Queensland-based home builder Queensland One Homes Pty Ltd entered liquidation on…
Details18:03 31/08/2017 MOSCOW, August 31 (RAPSI) The Ninth Commercial Court of Appeals has upheld the bankruptcy of Vneshprombanks ex-president Larisa Markus, sentenced to 8.5 years in a penal colony for embezzling 113.5 billion rubles (about $2 billion), the courts database reads on Thursday. The court has dismissed an appeal of the Deposit Insurance Agency (DIA)…
DetailsImage copyright Getty Images A “rent to own” TV and domestic appliance firm has gone into administration and made 41 job losses. Another 226 jobs are at risk at Bridgend-based Buy As You View (BAYV), which has 40,000 customers across the UK. Administrators EY said the company had “continued to incur significant losses” despite major…
DetailsWhen the UK government found £1 billion to for Northern Ireland to secure Democratic Unionist parliamentary support, critics accused it of turning to the same magic money tree it had previously mocked others for believing in. But it may just be that the tree is flourishing in plain sight. UK national debt is currently issued…
DetailsIt was quite uncertain as to whether the preference of an Appeal under Sec.37 of the Arbitration and Conciliation Act, 1996 against the dismissal of the objection under Sec.34 would amount to an existence of dispute which debars initiation of Corporate Insolvency Process under Sec.9(1) of the I & B Code, and equally unclear about…
DetailsAlmost 100 jobs have been lost after a Dundee electrical and mechanical contracting firm collapsed. Provisional liquidator Johnston Carmichael are understood to have been brought into Scottish Electric Group (SEG) on Monday, but the bank holiday meant their formal appointment as administrators was delayed. The Courier understands that SEG, based at Dundee Technology Park, has…
DetailsEmbattled gold junior Pamodzi Gold on Tuesday advised shareholders that a final liquidation order was granted against the company in the North Gauteng High Court in Pretoria. Pamodzi said last month that it would not oppose the liquidation application lodged against the company by the Industrial Development Corporation. The company owes the IDC more than…
DetailsNigeria: Restructuring & Insolvency Review 2017 September 2017 Etigwe Uwa SAN, Streamsowers & Köhn In legal parlance, restructuring of a corporate entity is effected upon a declaration of insolvency or to avert insolvency or in some cases for the expansion of the business base of such organisation. In the case of statutory…
DetailsClass action law firm Slater and Gordon is set to be owned by a consortium of international hedge funds after agreeing to a bailout that will see it emerge with a new board and strategy. The new plan, revealed on Thursday night, will involve hedge funds, led by Anchorage Capital swapping the debt they are owed…
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