A new law to consolidate Singapore’s personal bankruptcy and corporate insolvency regimes will be introduced next year, said Home Affairs and Law Minister K. Shanmugam yesterday. The omnibus Insolvency Bill, which is expected to be enacted in the second half of next year, will streamline the laws to provide consistency and clarity, said Mr Shanmugam,…
DetailsThe former clients of the retail FX broker will be notified via email by August 25, 2017 confirming that the Catch Up Distribution payment of 20 pence in the £ has been made to them. The Joint Special Administrators of Alpari (UK) Ltd, the retail FX broker that went insolvent following the Black Thursday events…
DetailsOver 30 Queensland-based construction companies have collapsed in 2017, and nearly 450 more are at high to severe risk of failure in the next 12 months, according to insolvency group SV Partners. Insolvency group SV Partners has released its findings in Augusts Commercial Risk Outlook Report. The report analyses industries and regions within Australia where incorporated operating businesses are predicted to…
DetailsOSLO: Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring in mid-September, and aims to raise $1 billion in new capital, the company said on Thursday. Once the biggest offshore rig firm by market value and the crown jewel in the business empire of Norwegian billionaire John Fredriksen, Seadrill shares have…
Details(Adds analyst, debt and liabilities estimate) By Nerijus Adomaitis OSLO, Aug 24 (Reuters) – Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, and aims to raise $1 billion in new capital, it said on Thursday. Once the biggest offshore rig firm by market value and the crown…
DetailsShutterstock photo By Nerijus Adomaitis OSLO, Aug 24 (Reuters) – Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, and aims to raise $1 billion in new capital, it said on Thursday. Once the biggest offshore rig firm by market value and the crown jewel of…
DetailsMining services business Ausdrill has delivered a solid full-year result on the back of strong performance in its gold operations in Africa, and is targeting further growth in the year ahead. Perth-based Ausdrill announced a 53.3 per cent surge in net profit to $31.4 million for the 2017 financial year, with revenue up 4.5 per…
DetailsSINGAPORE – A new law to consolidate Singapore’s personal bankruptcy and corporate insolvency regimes will be introduced in 2018, to further boost the Republic’s status as a leading centre for cross-border debt restructuring, Home Affairs and Law Minister K. Shanmugam said on Thursday (Aug 24). The omnibus Insolvency Bill, which is expected to be enacted…
DetailsShareholders in Spotless Group who are refusing to accept the $1.15 per share cash takeover offer from predator Downer EDI won’t be paid any final dividend, as the Downer-controlled Spotless board puts the squeeze on the outliers. Spotless on Thursday announced it had tumbled to a bottomline loss of $348 million for 2016-17, after big…
DetailsPaul Harris with Hustler back in 2002 following their Group I win. A Group I-winning horse trainer who had his licence revoked when he was declared bankrupt will take his first runner to the races in five years on Friday. Paul Harris was forming a formidable training record until everything came crashing down in 2012…
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