UPDATE 7pm: AFTER months of uncertainty an embattled central Queensland miner and part-owner of Wiggins Island Coal Export Terminal was placed into liquidation today. Administrators PPB Advisory confirmed this afternoon creditors voted that all five companies in the Caledon Coal Group (Caledon Coal Pty Ltd, CC Pty Ltd, Guangdong Rising (Australia) Pty Ltd, Blackwater Coal…
DetailsWhen a little-known company Shiv Sneha Associates advertised that it would file bankruptcy proceedings against the NYSE-listed MakeMyTrip, valued at $3 billion, to recover its dues, it showed how a new law can become a tool to intimidate businesses. A number of frivolous petitions at the National Company Law Tribunal (NCLT), which administers the Insolvency…
DetailsJustin Shaw signed up to work as a police prosecutor because he wanted to make the community safer. But too often he just felt like a debt collector for a private company. The constant prosecution of toll road infringements weighed on his conscience. Play Video Don’t Play Tent city inappropriate: Berejiklian Play Video Don’t Play…
DetailsA SCOTS lawyer and former hedge fund manager accused of defrauding property investors out of millions of pounds has been declared bankrupt. Gregory King, of Glasgow, is accused by regulators of being behind an alleged £6 million property scam where investors money was used to buy land from him at massively inflated prices. Mr King,…
DetailsWith the NCLT admitting ICICI Banks petition against ABG Shipyard, the companys board of directors will be dissolved. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Tuesday admitted the insolvency petition against ABG Shipyard filed by ICICI Bank under the Insolvency and Bankruptcy Code (IBC). The bench has appointed Sundaresh Bhat of…
DetailsA man was sentenced Monday for his role as an enforcer in a violent gambling organization run by a former University of Southern California football player. Jack Rissell, 51, was convicted of extortion and sentenced to 24 months in prison, according to the U.S. Attorney’s office. A USC football player, Owen Hanson, was in charge…
DetailsFORT WASHINGTON, Pa., Aug. 1, 2017 /PRNewswire/ — Walter Investment Management Corp. (the “Company”) (NYSE: WAC.BC) today announced that it had entered into a Restructuring Support Agreement (the “RSA”) with its senior lenders holding, as of July 31, 2017, more than 50% of the loans and/or commitments outstanding (the “Consenting Term Lenders”) under the Company’s Amended…
DetailsDebt collector and payday lender Credit Corp Group Limited (ASX: CCP) released its annual results for 2017 this morning. Its share price rose 5% to $17.76 at the time of writing. Here?s what you need to know: Revenue rose 17% to $266 million Net profit after tax (NPAT) rose 20% to $55 million Earnings per share of 114.7 cents Dividends…
Details(Reuters) – Philadelphia Energy Solutions LLC, the owner of the largest U.S. East Coast oil refining complex, has hired an investment bank to help tackle its debt burden, as it struggles with low profit margins, people familiar with the matter said on Tuesday. The move underscores the challenges facing some East Coast refineries, which used…
DetailsA specialist auto services company in Falkirk has been placed in liquidation with the loss of all 20 jobs. MTH Group Ltd, which was founded in 1969, provided electrical, engineering and support services for cars and commercial vehicles. Tom MacLennan and Iain Fraser, of FRP Advisory LLP, have been appointed joint provisional liquidators. They said…
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