Abengoa SA said it has laid the groundwork for an agreement with creditors to restructure debt as it maneuvers to avoid becoming Spains largest corporate insolvency. Investors will provide financing of as much as 1.8 billion euros ($2 billion) to the renewable energy company in exchange for 55 percent of its capital, Seville, Spain-based Abengoa…
DetailsThe ethically questionable practice of nominating industrialists with dubious reputation to Parliament haunted Rajya Sabha on Thursday morning. As House proceedings started on 10 March, Naresh Agrawal of Samajwadi Party raised the issue of UB Group Chairman Vijay Mallya essentially “absconding” from law. Should he continue to be a Parliamentarian? According to Agrawal, the issue…
DetailsJOHN KIRK-ANDERSON Stonewood Homes founder Brent Mettrick has appointed liquidators to the building firm’s shareholder company. Stonewood Homes’ shareholder company has been placed in liquidation, a move that will put the firm’s senior management under scrutiny. Stonewood Homes founders Brent and Sue Mettrick asked Ernst & Young liquidators Rhys Cain and Rees Logan to take over Holmfirth Group Ltd on Thursday. Holmfirth Group Ltd,…
Details* Creditors to lend up to 1.8 bln euros under draft plan * Existing creditors would get 35 percent of company * Existing shareholders’ stake would be cut to 5 percent (Adds details, background) By Sonya Dowsett MADRID, March 10 Debt-laden engineer Abengoa said on Thursday it had agreed a draft rescue plan with creditors…
DetailsA homewares business that had been operating for just over 20 years has collapsed into liquidation. Earthborn Pty Ltd appointed external managers late last month, with David Stimpson and Terrence Rose from SV Partners appointed joint liquidators. Earthborn has more than 10 retail stores across Queensland, including in the Indooroopilly Shopping Centre, Westfield Clarindale and…
DetailsTime is growing short for Congress to help Puerto Rico out of the worst debt crisis any state or territory of the United States has faced since the Great Depression nearly 100 years ago. By every possible measure, Puerto Ricans are facing a grim present and an even darker future unless Congress offers a helping…
DetailsBackground In a recent Singapore Court of Appeal case [1] the claimant supplied bunkers to the defendants ship. The terms of the bunker supply contract required payment within 30 days of delivery. Three days before payment fell due, the claimant demanded immediate payment for the bunkers by close of the same business day. The claimant…
DetailsMoving diesel from Germany may require rail repairs; Public procurement bill approved in lower house; Zeman stands by Presidential Office’s military head Moving diesel from Germany may require rail repairs Czech diesel oil will not be moved by road from the German storage tanks of bankrupt company Viktoriagruppe. Pavel vagr, head of the Administration of…
DetailsShanghai Exactly a year ago, Premier Li Keqiang set out the case for difficult industrial overhauls. This is not nail-clipping, he warned, its like taking a knife to ones own flesh. The comments recalled his fearsome predecessor Zhu Rongji who eliminated 30 million jobs practically in one go in a clean-up of state enterprises in…
DetailsSTACY/SQUIRES/FAIRFAX NZ. Kaizuka Eatery and Garden Bar was issued a full on-licence in March 2014 and operated on the licence for about six months before a visit from council licensing officers. Unsecured creditors will likely be left out of pocket after troubled Christchurch bar Kaizuka entered voluntary liquidation. Kaizuka Limited co-owner Dwayne Vaughan last w… Read the full article at: http://www.stuff.co.nz/business/77698738/Creditors-unlikely-to-be-paid-back-following-Kaizuka-bar-liquidation
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