By TOM LATEK and MARK MAYNARD, Kentucky Today FRANKFORT, Ky. (KT) Even with the state facing a projected budget shortfall and an enormous public pension debt, casino gambling remains off the table. I havent heard any discussion of that issue and no one has talked to me about it, said Senate Minority Leader Ray…
DetailsIn an ASX statement released today, SurfStitch Group Ltd announced administrators FTI Consulting has been appointed, with its voluntary administration effective immediately. The company had been beleaguered with several legal issues, including two class actions, an investigation by corporate watchdog ASIC and litigation as well. In a company statement SurfStitch says: the companies reluctantly made…
DetailsCustomers have taken to Facebook with questions about lay-by orders and the future of stores after baby supplies retail chain Bubs Baby Shops collapsed into voluntary administration last week, leaving 70 workers with uncertain futures. According to ASIC notices published on Tuesday, Simon Cathro and Christopher Cook of Worrells Solvency were appointed as voluntary administrators of nine company entities…
DetailsA Melbourne man alleged to have masterminded a massive tax-evasion scheme has been hit with a personal tax bill of $8.5 million, despite claiming his only asset is an old Ford Falcon. Key points: Philip Whiteman is under investigation by the ATO for allegedly advising clients how to “phoenix” companies Whiteman was ordered to…
DetailsThe ACCC will not oppose the joint acquisition of Ten by media moguls Lachlan Murdoch and Bruce Gordon. In an announcement from the independent authority and competition regulator, it said Gordon’s Birketu and Murdoch’s Illyria’s proposed joint bid to acquire Ten Network Holdings, with each to take a 50% in the media business, was permitted to…
DetailsHolding firm APC Group Inc.long speculated to be the SM groups future vehicle for energy assetshas approved a corporate restructuring program designed to wipe out the companys P7.73-billion capital deficit. In a disclosure to the Philippine Stock Exchange, APC said it had approved an amendment to the companys by-laws to reduce the par value of…
DetailsAs noted in The Age, however, that was not to be. Reed Constructions, the company contracted by the Victorian Government to undertake the upgrade, famously collapsed in 2012 owing $89.2 million to unsecured creditors, including $85.6 million to subcontractors many of whom had been engaged (mostly in New South Wales) to work on major public-sector…
DetailsNEW DELHI: Hapless homebuyers of Jaypee Infratech Limited moved the Supreme Court on Wednesday seeking relief against a blanket National Company Law Tribunal (NCLT) order staying all proceedings against the company, including those pending before the consumer courts. Their plea was mentioned by senior advocate Ajit Sinha before a bench led by Chief Justice of…
DetailsMUMBAI:On a Friday afternoon this month, Milind Kothari looked at his WhatsApp message with a furrowed brow. The India head of BDO, a leading professional services firm, had received a message from his turnaround and business support partner, Sundaresh Bhat, who had just taken over ABG Shipyard as interim resolution professional (IRP) on an order…
DetailsThe Insolvency Service said this was mainly driven by a fall in IVAs, which fell around 16 percent compared to the first quarter which had the largest quarterly number of IVAs since records began. Bankruptcies during the second quarter increased nearly five percent compared to the same period last year. The Insolvency Service attributed this…
Details