Amcor chief executive Ron Delia says the packaging giant will be untroubled by the structural shifts in e-commerce as online giants such as Amazon upend traditional business models, with demand picking up for “smart” packaging. He said on Tuesday consumer goods companies are increasingly asking for more protective packaging, better authentification and there is a…
DetailsNational Company Law Tribunal (NCLT) is finding it difficult to get qualified judges to meet the growing demand of bad loan resolution cases filed by bankers and corporates. The NCLT is adding new Benches and interviewing more judges to keep pace with the cases being admitted. But yes, it is becoming more challenging to get qualified…
DetailsThe National Company Law Appelate Tribunal (NCLAT) has dismissed an appeal by builder Neelkanth Township against bankruptcy proceedings, saying its reference to a 1963 law that prescribes a time limit to initiate recovery of loans is not applicable. The decision may allow small-ticket lenders to recover their money. Several operational and smallticket lenders who had…
DetailsInsolvency experts say small businesses are doing it tough, but that wont stop the tax office and government bodies from stepping in to apply for company wind-up orders as the Australian Taxation Office continues its more aggressive pursuit of businesses. Figures collated from court insolvency records by Prushka Fast Debt Recovery suggest that 46% of wind-up…
DetailsAmcor has more than doubled full-year profit to $US597 million ($A752 million), as acquisitions dominated a year of strategic restructuring. While the packaging giant delivered profits well beyond last year’s $US244.1 million, Amcor’s revenue from ordinary activities for the year to June 30 fell 3.4 per cent to $US9.1 billion ($A11.5 billion). Amcor CEO Ron…
DetailsTen Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price. Ten administrator Kordamentha said on Tuesday that the broadcaster first learned on May 2 that Mr Packer’s Consolidated Press Holdings would…
DetailsNEW DELHI: After Jaypee Infratech, the process of corporate insolvency resolution under the insolvency and bankruptcy code is likely to be initiated against three Amrapali group companies -Noida’s Silicon City and Greater Noida-based Ultra Home Construction and Amrapali Infrastructure -on the plea of Bank of Baroda. A bank official said the National Company Law Tribunal‘s…
DetailsOn Aug 18, we issued an updated research report on Terex CorporationTEX , a global equipment manufacturer. The company is set to benefit from progress on capital allocation strategy. Also its focus on portfolio restructuring and cost-saving initiatives is likely to boost results in the near term. Notably, Terex fulfilled its commitment to focus on…
DetailsEIGHTY-four Gold Coast construction companies are on the brink of collapse, according to new data from insolvency group SVP Partners. The group’s August 2017 Commercial Risk Outlook report found 3.7 per cent of businesses in the industry were at high risk of insolvency. The report comes in the wake of two major collapses in the…
DetailsTHE question ‘will this business stay afloat’ is probably the furthest thing from shoppers’ minds when they place products on lay-by. But maybe that should be the first. As Bubs Baby Shops goes into voluntary administration Coast shoppers have again been left wondering whether they’ll get the products they’ve put down payments on, or if…
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