BENGALURU: India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on…
DetailsBulgarian Energy Minister Temenuzhka Petkova has said the state is yet to consider its options to use the nuclear reactor and equipment procured for the ditched Belene nuclear plant (NPP) project which it now has to pay. In an interview with the Bulgarian National Television, she has underlined that Sofia could launch a privatization procedure…
DetailsStrange goings on at WAYN, the social media platform that bills itself as the worlds largest travel club. Yesterday Skift reported that the company that trades as WAYN (Where Are You Now? Ltd) had gone into administration a form of insolvency in the UK. This remains the case. Today, the recently renamed lastminute.com group (formerly…
DetailsPROVIDENCE, R.I. (AP) Rhode Island is helping 215 college graduates pay back their student debt. The state’s Commerce Corp. said Tuesday that it’s awarding an average of $3,750 a year in loan relief to the winners of its new Wavemake… Read the full article at: http://www.heraldcourier.com/news/rhode-island-awards-student-debt-relief-to-college-grads/article_936c6a26-397c-54d0-8077-425517c54ac6.html
DetailsALDEN WILLIAMS/FAIRFAX NZ Indian spice store, Sun 2 Moon in Johnsonville, was put into liquidation on Monday. In August the ERA fined the owner $53,000 for exploiting a migrant worker. The owner of a Wellington grocery store recently ordered to pay than $53,000 for exploiting a migrant worker has put his company into liquidation, claiming it cannot…
DetailsCitation Resources has appointed KordaMentha as voluntary administrators, while the oil and gas company continues to pursue recovery of funds allegedly misappropriated by former director Peter Landau. Perth-based Citation said today it had entered voluntary administration, with Richard Tucker and Scott Langdon of KordaMentha appointed to oversee the companys affairs. The board advises that it…
DetailsAfter a struggle to repay its debts since last year, Guangxi Nonferrous Metals Group, the Chinese state-owned metal producer, has finally been declared bankrupt, becoming the countrys first interbank bond issuer to fail. The company, owned by the Guangxi provincial government, failed to propose a reorganisation plan within six months after a court order, according…
DetailsTheres been strong interest from buyers for Queensland regional trucking business Kurtz Transport after the business was placed in voluntary administration this month. Administrators from Ernst & Young were appointed to manage the company on September 12, with Justin Walsh and Duncan Clubb acting as joint administrators of Kurtz Transport Pty Ltd and Kurtz Holdings Pty Ltd. The business,…
DetailsFor the moment, Eastern Oregon Regional Airport no longer has commercial flights. The Oregonian is reporting that SeaPort Airlines, the only commercial airline to service the Pendleton airport, will cease operations. In a court hearing Tuesday, a judge ordered the company be converted to a Chapter 7 liquidation effective at noon Wednesday. The Oregonian is…
DetailsBy SN Ananthasubramanian and Eshwar Sabapathy The Insolvency and Bankruptcy Code, 2016, intended to provide for an enactment to consolidate and amend the law relating to re-organisation and insolvency resolution, has given rise to a new breed the insolvency professional, who holds the key to insolvency resolution. The World Banks Doing Business Report states that…
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