A Brazilian court has approved the reorganisation of the debt of Shree Renuka Sugars ‘ subsidiary in the country. The recast slashes Renuka Vale do lvai’s debt by Rs 168 crore, the company’s management said. While the plan to restructure the debt was approved by creditors on June 6, the court order came on Tuesday,…
Details07:00 27 July 2016 Gemma Mitchell According to figures released by The Insolvency Service, more than 400 people declared insolvency in Ipswich last year. Ipswich had the seventh highest personal insolvency rate in the country in 2015 with hundreds of people unable to pay their debts. … Read the full article at: http://www.ipswichstar.co.uk/news/ipswich_seventh_highest_personal_insolvency_rate_in_england_in_2015_1_4632823
DetailsDick Smith Holdings creditors have voted to place the failed business into liquidation in a last ditch effort to recoup some of their lost money. The second meeting of creditors, held in Sydney yesterday, saw Joseph Hayes and Jason Preston of McGrathNicol, appointed as liquidators of DSHE and its Australian subsidiaries. The New Zealand operations,…
DetailsNT reports highest gains but Darwin sees biggest reduction in debtors. Areas of regional Australia have recorded significant increases in the number of individuals entering into personal and business-related insolvency. The Australian Financial Security Authority (AFSA) has released regional personal insolvency statistics for the June quarter 2016. There was an 11% nationwide increase in the…
DetailsThe common statement of policy principles was adopted Monday on the opening day of the Democratic National Convention in Philadelphia. Here are its key points: The one percent Echoing a central message of the Clinton campaign — “stronger together” — the document’s preamble also makes a forceful case against wealth inequality and adopts phrasing used…
DetailsIn a twisted case of impending debt, the Italian court in Pesaro declared motorcycle maker Benelli as bankrupt in a ruling after the company failed to settle its dues with a component maker. The court order was made despite the fact that the bike maker offered to pay his debt to the company and claimed…
DetailsBenelli were declared bankrupt despite the company’s insistence it isn’t Related stories Tuesday, 26, Jul 2016 10:57 by Joe Jeffrey Court declares manufacturer bankrupt despite company’s insistence they’re not An Italian court has taken the step of declaring motorcycle manufacturer Benelli bankrupt in a ruling which followed the company failing to pay a debt to…
DetailsThe final remaining unrated professional indemnity insurer has been ordered to stop writing any new business after suffering a financial collapse. The Gibraltar Financial Services Commission said today it has intervened in the operations of Enterprise Insurance Company PLC after being informed that the business was insolvent and unable to secure additional funding. Advertisement Enterprise was…
Details
Smart Company 17 June 2016 An event company that had sold tickets to a series of motivational seminars with actress Reese Witherspoon has collapsed into voluntary liquidation. Stanley Morgan Accountants were appointed as external managers to the The Simpatico Connection Pty Ltd, organisers of the Simpatico Connection Conference, this afternoon. The Simpatico Connection had…
Details
Smart Company 16 June 2016 The company behind the popular baby sling brand, Hug-a-Bub, has collapsed into voluntary administration. Hug-a-bub Australia Pty Ltd, which was incorporated in 2001, has temporarily ceased trading and is not currently taking orders, after appointing Brendan Nixon of Stanley Morgan Accountants as voluntary administrator on June 13. The New South…
Details