Creditors who funded the United States shale boom are not in good shape to recover their invested funds, according to Moodys Investors Service. Banks and private lenders have only gotten back $1 of every $5 they invested in companies that declared bankrupt in 2015, the credit rating agency reports, which analyzed 15 bankrupted energy companies…
DetailsWorker claims he’s owed $100k Save Monday, 12 September 2016 A former employee is seeking $100,000 from a tech company that once aspired to list on the NZX and is now in liquidation. Lawrence Sami was employed by mobile payment company Optimizer HQ, run by Mana Kumar, which previously operated the Swipe payment brand from…
DetailsA British absurdist artist is stuck off the coast of Japan on board a Hanjin Shipping freight ship after the company declared bankruptcy. 25-year-old Rebecca Moss is onboard the vessel as part of the 23 Days at Sea project a residency program organized by a Vancouver art gallery that puts artists on cargo ships sailing from…
DetailsThe high-profile directors of collapsed stockbroker BBY, Ken Rosewall and his son Glenn, will take the stand during the course of a much anticipated liquidators hearing which begins today in Sydney. Approximately 6,000 clients are owed about $61 million from BBY, which collapsed in May 2015 amid claims of insolvent trading, misuse of client…
DetailsComments (0) Lisa Thomas, insolvency practitioner at Neville & Co explains that in the end, liquidation may be the answer The main part of our work revolves around advising Directors on the insolvency options for their companies and then holding their hand through whichever procedure is most appropriate in the circumstances. Liquidation is one of the…
DetailsElders is expecting underlying earnings to jump as much as 24 per cent after it decided to stop exporting live animals to China. But live exports to other Asian nations will continue. Currently, most of Elders’ long-haul business involves sea shipments of dairy and beef breeder cattle to China. Photo: Michele Mossop The agribusiness has reviewed…
DetailsPOKIES bankrupted the Frankston Football Club. The Dolphins went into voluntary administration late last month as the club struggled under large debts and the administrators called in by the club have now confirmed most of the clubs debts are related to pokies machines licences. Worrells Solvency and Forensic Accountants, administrators called in by the club,…
DetailsManas Kumar, of Optimizer HQ and ODEV Limited, which is now in liquidation. A former employee is seeking $100,000 from a tech company that once aspired to list on the NZX and is now in liquidation. Lawrence Sami was employed by mobile payment company Optimizer HQ, run by Mana Kumar, which previously operated the Swipe…
DetailsMARTY SHARPE Frimley Estate, on the northern edge of Hastings. The man behind the development, Nick Duff, has declared himself bankrupt. The developer behind an unsuccessful property development in Hastings has declared himself bankrupt with his company still owing nearly $3million. Nick Duff, also known as Stephen Duff, applied to make himself bankrupt on August 30.…
DetailsIn limbo: Frankston Dolphins players await the outcome of the clubs administration. POKIES bankrupted the Frankston Football Club. The Dolphins went into voluntary administration late last month as the club struggled under large debts and the administrators called in by the club have now confirmed most of the clubs debts are related to pokies machines…
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