New Delhi: The government is planning to conduct a national insolvency programme to train insolvency professionals registered under the insolvency and bankruptcy code. The insolvency and bankruptcy board of India (IBBI) will organize a series of workshops to be conducted by industry experts, said a person familiar with the development. Mint spoke to two people…
DetailsFormer One Nation senator Rod Culleton has secured a one week extension of a stay application on his bankruptcy ruling, which has forced him to lose his seat in Federal Parliament. The extension of the stay which was set to expire at midnight on Friday comes after Senate President Stephen Parry declared Mr Culleton’s…
DetailsUPDATE 5PM: BY the end of the week, administrators expect to have a firmer grasp on the assets, jobs and debts tied up in the CQ Leagues Club. Worrells Solvency and Forensic Accountants were appointed administrators of the troubled club yesterday and issued a statement before noon. One of the administrators, Paul Nogueira, spoke with…
DetailsRelated Story: Government knew of potential problems with Centrelink system Centrelink management has ordered frontline staff working in branches not to process disputes over the Federal Government’s controversial debt claw-back scheme and instead refer welfare recipients to an online portal. Key points: Memo orders branch staff not to process debt disputes…
DetailsShare: Facebook Twitter Prime Minister Dr. Keith Rowley PORT OF SPAIN, Trinidad, Jan 11, CMC The Trinidad and Tobago government Wednesday night said it is necessary to carry out a restructuring of the state-owned oil company, … Read the full article at: http://www.trinidadexpress.com/20170111/business/government-says-petrotrin-must-be-restructured-in-order-to-survive
DetailsWestern Australian PC components distributor Softline Australia Distribution has entered liquidation after being unable to pay debts in excess of $200,000. Domenico Calabretta and Grahame Ward of Mackay Goodwin were appointed liquidators on December 20, 2016. Documents lodged with corporate regular ASIC revealed the company sank among a number of debts, including an undisclosed debt…
DetailsParexels restructuring plan to simplify the organization will include eliminating an undisclosed amount of positions as the CRO looks to save on costs. In a form 8-K filed with the SEC on January 6, 2017, the contract research organization (CRO) announced its plan to restructure operations had been approved by the chairman and CEO and…
DetailsBus Éireann has confirmed the company is facing insolvency within 18 months unless decisive actions are taken to reverse losses. The transport providers acting Chief Executive Ray Hernan has told staff the company is facing forecasted losses of 8m for 2016 and warned that, collectively we cannot allow this trend to continue. The company has…
DetailsRelated Story: Rod Culleton loses position as WA senator after bankruptcy decision Rod Culleton is vowing to fight his removal from federal politics, despite the president of the Senate confirming his disqualification. Key points: Senator Stephen Parry said he had received confirmation for the Federal Court that Rod Culleton was bankrupt…
DetailsThe threat of the State-owned Bus Éireann becoming insolvent within the next 18 months is very real, its new acting chief executive has told staff. Ray Hernan also said it was clear the loss-making company had to change its business model. However, he insisted that the Expressway service, the companys commercial inter-city coach service which…
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