LAST LOCATION: The final Cosalt office of a long Grimsby legacy, the leased base on Europarc that was closed in 2013. Comments (0) A CONTROVERSIAL businessman, who it has been claimed played a part in the eventual collapse of Grimsby’s once proud Cosalt Plc, has been declared bankrupt. Aberdeen Sheriff Court granted a sequestration order against…
DetailsACCORDING to a report released by the National Bureau of Statistics on January 19, Chinas migrant workers now earn an average of 3,072 yuan (US$470) per month, up 7.2 percent from a year ago. In comparison, Chinas overall economy grew by just 6.9 percent last year, the slowest rate of increase in over two decades.…
DetailsMurray Wilson/FAIRFAX NZ Victory was one of the bars that had an arrangement with Hospo Bros, which is in liquidation. A Palmerston North-based bar management company with connections to pubs in various cities is unable to repay the $1.2 million it owes. The liquidators in charge of Hospo Bros have as good as completed their…
DetailsMobile phone providers need to act more responsibly to help customers avoid debt, starting with letting them set their own monthly bill caps, a charity has said. Citizens Advice has labelled mobile phone companies the worst private sector debt collectors, and said customers should be allowed to take their own steps to limit usage to…
DetailsFinancial panics have an unnerving tendency to coincide with the annual World Economic Forum in Davos. Bloomberg by Jeremy Warner The trouble with the World Economic Forum is that it has a propensity to become something of an echo chamber. Rather than promoting a plurality of views, ideas and sentiments, the mood tends to get focused into…
DetailsAmerican Express Co., the biggest credit-card issuer by purchases, said fourth-quarter profit fell 38 percent as expenses rose and the company took a restructuring charge. The shares slid in extended trading. Net income dropped to $899 million, or 89 cents a share, from $1.45 billion, or $1.39, a year earlier, the New York-based company said…
DetailsA biodiesel plant listed on the Australian Securities Exchange says the federal government is partly to blame for it collapsing into voluntary administration. Australian Renewable Fuels Limited, based in Barnawartha in north-east Victoria, appointed voluntary administrators on Thursday. Melissa Humann, David McEvoy and Nicholas Martin from PPB advisory are now managing the companys assets. A…
DetailsWASHINGTON–(BUSINESS WIRE)–EIG Pacific Holdings Ltd. (the Offeror), a Cayman Islands limited company and subsidiary of Harbour Energy Ltd. (Harbour Energy), today provided an update regarding its pending tender offers (the Tender Offers) for the outstanding senior notes (the Notes) of Pacific Exploration & Production Corporation (TSX: PRE) (BVC: PREC) (Pacific E&P or the Company). On…
DetailsTHE magnitude of yesterday’s revelations of a Coast company director holidaying in Las Vegas days after his company entered liquidation was quickly apparent. After the Daily revealed prominent Mooloolaba restaurateur Todd Young’s company, Todd Young Investments Pty Ltd, which through a trust operated Bella Venezia at Mooloolaba, had gone into liquidation and days later he’d…
DetailsIntroduction Consolidated code Comment Introduction No single umbrella legislation governs insolvency and bankruptcy proceedings in India. Instead, there is a slew of legislation governing the legal framework, including: the Companies Act 2013; the Sick Industrial Companies (Special Provisions) Act 1985; the Recovery of Debts Due to Banks and Financial Institutions Act 1993; …
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