A zinc mining project in north Queensland will be revived after its owners raised the $30 million required to fund a return to production. Development company Red River Resources announced on Friday that capital works and refurbishment would begin immediately on Thalanga zinc project, some 200km southwest of Townsville. It anticipates production at the project,…
DetailsNew Delhi, Nov 30: With insolvency professional agencies getting registered, the Insolvency and Bankruptcy Code will become operational from tomorrow. The Code will help quicker resolution of cases and unlock the value of assets, Mamta Binani, President, ICSI, the apex body of company secretaries, told reporters here today. The entire Insolvency and Bankruptcy Code will…
DetailsMarking the start of a “new regime”, the Insolvency and Bankruptcy Code is all set to be operational from tomorrow while as many as 15 insolvency professionals have been registered under it. Describing the Code as the next major reform undertaken by the government after GST (Goods and Services Tax), Corporate Affairs Secretary…
DetailsA SPORTSWEAR company launched by England and Sussex cricket legend James Kirtley looks set to go bust. Kirtley set up MKK Sports Limited more than ten years ago with three business partners supplying sports clubs throughout the country with kits. High profile clients included Sussex and Middlesex County Cricket Clubs (CCC). But a creditors’ meeting…
DetailsGamblers lost £13.6 billion through betting between April 2015 and March 2016, according to a Gambling Commission report, up nearly 21 per cent from the previous period. Remote gambling using a phone or computer to bet or play bingo and casino games online is now the largest sector in the industry, accounting for almost £4.5…
DetailsRolls-Royce has today announced plans to accelerate the transformation of its Marine business as a result of continuing weakness in the maritime market. Rolls-Royces Marine business supplies a range of technology and services to customers operating merchant, offshore and naval vessels. Planned measures include a further simplification of the structure of the business, with a…
DetailsMICHIGAN CITY, Ind.–(BUSINESS WIRE)–(NASDAQ: HBNC) Horizon Bancorp (the Company or Horizon) announced a series of balance sheet restructuring transactions that are expected to improve its overall financial position, including an increase in net interest margin, return on average assets, and return on average equity. The transactions include prepaying $106 million of high fixed-rate borrowings with…
DetailsBOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: Approval of the revised financial restructuring plan by creditors SoLocal Group (Paris:LOCAL) announces that more than two-thirds of the creditors have approved today its revised financial restructuring plan. The plan will now be submitted to the vote of shareholders at the Extraordinary General Shareholders Meeting on 15 December 2016, which will…
DetailsStudents will see more of their debts forgiven than previously thought. An estimated $108 billion or more in student loans will be forgiven over the next 10 to 20 years, thanks to federal programs that help ease the financial burden for those attending higher education institutions. That figure is roughly one-third of the $352 billion…
DetailsMUMBAI: Legislative changes are combining with the stress of the shock demonetising of high value notes to corner corporate defaulters, cozy after declaring themselves as sick units, because they are finally finding themselves within a striking distance of their creditors, with the disbanding of the Board of Industrial and Financial Reconstruction (BIFR). Cases listed before…
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