Elders Limited today posted a 35% rise to $51.6 million in its full year after tax profit as the boom in the cattle industry flows through to the agribusiness. Revenue was up 9% to $1.64 billion. CEO Mark Allison says high cattle prices drove higher livestock earnings and also real estate sales demand for big…
DetailsFive former Linc Energy executives have been charged by the Queensland government with breaching environmental law over the operation of its underground coal gasification site in Chinchilla. Former chief executive Peter Bond was in September charged with three indictable offences and last week was summonsed on two additional charges of failing to ensure the company…
DetailsMore than 150 unsecured creditors of former senator Bob Day’s failed building company in South Australia will not be paid the millions of dollars they are owed. These 157 creditors are owed $4.9 million by Homestead Homes and they include subcontractors as well as customers who paid deposits on homes that remain unfinished. “It owes…
DetailsHuman headline: Nathan Tinkler pursued by journalists in Sydney in 2014. BANKRUPTED businessman Nathan Tinkler is expected to support the Drayton South mine as a listed speaker at Wednesdays controversial fourth Planning Assessment Commission hearing into the proposal. Mr Tinkler is listed as fifth speaker on the first day of the two-day Muswellbrook hearing that…
DetailsThe Queensland Government has charged five former executives of Linc Energy with environmental offences over the failed company’s alleged contamination of huge swathes of prime farmland in the state’s south-east. Key points: Charges related to alleged contamination caused by underground coal gasification Four other former Linc executives also summonsed Company has denied the charges…
DetailsThe administrators of mining services company McAleese expect to find buyers for large parts of the embattled group’s four business units. McGrathNicol administrators on Monday said they had received interest for McAleese’s specialised transport, oil and gas distribution and aviation refuelling and resources businesses, as well as some profitable depots that form part of the…
DetailsThe US president, Barack Obama, has signalled he will use a critical two-day visit to Athens this week to step up calls for the country to be given meaningful debt relief. Weighing in on the potentially explosive issue of how best to revive the European Unions most financially strained member state, the outgoing president said…
DetailsThe Queensland Government has charged five former executives of Linc Energy with environmental offences over the failed company’s alleged contamination of huge swathes of prime farmland in the state’s south-east. Key points: Charges related to alleged contamination caused by underground coal gasification Four other former Linc executives also summonsed Company has denied the charges…
DetailsDeepak Premnarayen, Nov 14, 2016, Being bankrupt is a state of inability to repay debts to creditors. The current legal and institutional framework does not aid lenders in effective and timely recovery, or restructuring of defaulted assets, causing undue strain on the credit system. At present, there are multiple overlapping laws and adjucating forums dealing…
DetailsLeah Zell, from Lizard Investors, cited only Turkey’s BIM at her appearance in Sydney last week. Daniel Munoz Acclaimed global investor Leah Zell, the founder of Lizard Investors, has quietly formed a bearish view on Woolworths, telling a high-profile conference in Chicago last month the company’s restructuring might be too little, too late. Ms Zell, regarded…
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