KUALA LUMPUR: The government intends to introduce an alternative provision for debtors to have a voluntary arrangement with the lenders to pay-up their debts prior to being declared bankrupt by the court. Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said (pix) said this alternative provision, known as the Individual Voluntary Arrangement (IVA)…
DetailsLONDON–Lonmin PLC (LMI.LN) Monday narrowed its fiscal-year net loss after restructuring its mines to offset weak prices of platinum group metals and said it’s now ready to pounce on new growth opportunities. The U.K.-listed miner, one of the world’s largest primary platinum producers, reported a net loss of $342 million for the year ended September,…
DetailsBHS CHIEF Former racing driver was probed by MPs over collapse of BHS DOMINIC Chappell famously purchased department store BHS for £1 in 2015 but who is the former bankrupt who was in charge when the store disappeared from high streets. The 49-year-old former racing driver has been probed by committees of MPs over the collapse of BHS…
DetailsUS online retailer Nasty Gal said it will file for bankruptcy protection just hours after founder and high profile entrepreneur Sophia Amoruso addressed a packed auditorium in Melbourne to share the secrets to her businesss success. On Thursday Recode reported the $US100 million ($131 million) retailer was preparing to file for Chapter 11 bankruptcy, the…
DetailsGreen groups are calling for more underground coal gasification projects to be stopped after the Queensland government charged five Linc Energy executives. The five executives will face court in Dalby later this month over the failed company’s operation of an underground coal gasification site in the Darling Downs. Former Linc chief executive Peter Bond was…
DetailsGreen groups are calling for more underground coal gasification projects to be stopped after the Queensland government charged five Linc Energy executives. The five executives will face court in Dalby later this month over the failed company’s operation of an underground coal gasification site in the Darling Downs. Former Linc chief executive Peter Bond was…
DetailsMcAleese CEO Mark Rowsthorn is still hopeful of restructuring the trucking group Cole Bennetts McAleese’s administrators, McGrathNicol, have received a new restructuring proposal from Hong Kong’s SC Lowy and plan to discuss the transport group’s options, which include liquidation, with creditors next month. McGrathNicol is reviewing draft deeds of company arrangement from McAleese’s secured creditors, the administrators said on…
Details13th November 2016 // Uncategorised US federal agents this week indicted nine members of a Brooklyn gang accused of multiple violations, including illegal drug trafficking and the continuing operation of a private, high-stakes poker game where as much as $150,000 was allegedly wagered. A statement from the Eastern District of New York USAO office described those…
DetailsErickson, the manufacturer and operator of the S-64 Air Crane fire attack helicopter, have filed for Chapter 11 bankruptcy. (Paul Sadler) The manufacturer and operator of the world renowned S-64 Air Crane fire attack helicopter, Erickson Incorporated, has voluntarily filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Northern District of Texas,…
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