Last Modified: Thu, Apr 07 2016. 09 10 AM IST A litigation by United Breweries Holdings over the quality of a jet engine may determine how much lenders can claw back from Vijay Mallya New Delhi/Mumbai: The suspense surrounding Indias battle with bad loans and defaulters is getting deeper. A litigation over the quality…
DetailsGlencore Plcs $2.5 billion agriculture deal is another milestone to solving Chief Executive Officer Ivan Glasenbergs biggest problem last year — reducing a mountain of debt. Canadas biggest pension fund will buy a 40 percent stake in the agriculture business and Glencore said it may sell an additional 20 percent, which could be worth $1.25 billion…
DetailsLabor says the government’s proposal to de-regulate university fees will result in a cost blowout. How will the Government cope with the increasing student debt? THE government and Labor are blaming each other for ballooning student loan debts but are united in avoiding discussion of one sensitive response the raiding of dead students assets. It…
DetailsTroubled steel and mining group Arrium has been placed in voluntary administration, following discussions with its lenders. The company, which suspended trading in its shares on the ASX on Wednesday, says it has appointed Grant Thornton as administrators, with executive control to be transferred immediately. Arrium shares were put in a trading halt on Monday,…
DetailsThe Bankruptcy Bill proposes a time-bound framework for sick entities to decide whether they should be liquidated or revived Image: Radious Image / Corbis I n september 2009, when Ishita Swarup launched her online flash sales portal 99labels, the market was exciting. She was pioneering a new business model in the nascent ecommerce sectorgiving heavy…
DetailsKLEENMAID had come to the attention of federal financial agencies up to three years before it collapsed, a court has heard. Former Kleenmaid directors Andrew Eric Young, 62, and Bradley Wendell Young, 44,have pleaded not guilty at the Brisbane District Court to defrauding Westpac of a $13 million loan and 18 counts of operating a…
DetailsA Whanganui woman stole more than $28,000 from her employer and left a note explaining she had done it to pay off gambling debt. The gambling addiction “stemmed from boredom” after Kelly-Ann Webster had a stroke, defence lawyer Anna Brosnahan told Whanganui District Court. Webster, 43, was in court being sentenced for burglary, which she…
DetailsImage via Center for Individual Freedom YouTube channel According to Sunlight Foundations Political Ad Sleuth tool, a 501(c)(4) dark money group called the Center for Individual Freedom (CFIF) has purchased at least $200,000 in ads in the Washington, D.C., market, an attempt to influence lawmakers crafting economic legislation to assist Puerto Rico’s dire financial situation.…
DetailsA healthcare group turning over millions of dollars from the sales of vitamins and other consumer products has collapsed into voluntary administration. Direct Wellbeing Pty Ltd appointed external managers on April 4. Todd Gammel and Barry Taylor from HLB Mann Judd are acting as joint voluntary administrators and a creditors meeting is due to be held…
DetailsBy Alex Dobuzinskis (Reuters) – A retired U.S. tax judge and her husband have been charged in Minnesota with cheating the government of $400,000 in taxes in a scheme that treated personal spending such as jewelry, pilates classes and overseas vacations as business expenses, prosecutors said on Monday. A federal grand jury indicted Diane Kroupa…
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