Lazard Ltd. said fourth-quarter revenue rose amid gains in its financial advisory and asset-management businesses, while its profit declined on higher costs and income tax provisions. Financial advisory revenue grew 22% from the prior year to $331.2 million with revenue in its deal-making advisory business growing 17%. Revenue from its restructuring advisory business grew 15%…
DetailsIf your business has been deemed insolvent via either the cash flow test or the balance sheet test, you’ll likely be thinking what the next step is for your business. You might well have heard about insolvency practitioners and their role in the next steps, but are not entirely sure what the need for them…
DetailsJoe Costantino, the Deputy Managing of Sharp Australia has quit along with two other senior executives. The restructure which is believed to have ordered by Foxconn executives who took over the management of the Sharp Corporation last year, also saw the exit of Sandra Woods General Manager Administration and Ross McLennan, General Manger Operations and…
DetailsCLIVE Palmer has been orderd to produce the books for a number of compaines, including those behind Palmer Coolum Resort, as part of the Federal Court investigation into the collapse of Queensland Nickel. Mr Palmer has been called on to produce financial and management accounts, asset registers and tax returns for his companies Mineralogy and…
DetailsCimpress NV (NASDAQ:CMPR) announced fiscal second-quarter 2017 results Wednesday after the market closed, along with plans to “decentralize its organizational structure.” Shares are down more than 8% in after-hours trading, as Wall Street frowns upon continued profitability headwinds for the mass customization specialist. To be fair, going into this report Cimpress shares had all but recovered from…
DetailsBankers have chosen their words carefully since the financial crash, which probably explains the fuss in 2012 when John Reynolds gave a blunt assessment of plans to loosen up the rules on personal insolvency. At the time, bankruptcy tourism was endemic among overindebted members of the business and professional elites. After a brief sojourn in…
DetailsThe number of people whose financial situation deteriorated so badly that they became insolvent is expected to have increased year on year in 2016 in official figures released on Friday. Restructuring firm RSM said it expected to see around 90,000 people having entered personal insolvency in England and Wales across 2016, which would be an…
DetailsOne-time Williams farmer and disqualified Senator for WA Rod Culleton will learn his fate on various legal actions today. CONVERGING legal actions in different parts of Australia will further determine the political fate of disqualified WA Senator and anti-rural banking crusader Rod Culleton today. Mr Culleton was elected for One Nation at last years poll…
DetailsThe company hired to run OLG Casino Sault Ste. Marie is refinancing its existing secured debt in part to help purchase its new stake in several gambling sites in Ontario. Gateway Casinos and Entertainment Ltd., said Friday the refinancing is made up of a new capital structure including $125 million Cdn senior secured revolving credit…
DetailsBy Sophie Vorrath on 3 February 2017 Upstart Australian power retailer Urth Energy has become the second energy market newcomer to fail within 12 months more than likely another victim of soaring wholesale electricity prices after administrators were called in this week, rendering it ineligible to trade on the NEM. In an announcement…
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