The Federal Group has rejected accusations the tying of its redevelopment plans for Wrest Point Casino to the extension of its exclusive gambling licence in Tasmania amounts to “corporate blackmail”. The company yesterday unveiled its plans for a $70 million upgrade to its Hobart casino, but warned the investment was on hold until the…
Details29/07/2015 Personal insolvency has fallen to a 10 year low in England and Wales, according to figures from the insolvency service. The number of people being declared insolvent between April and June fell to 18,688, which is 29.3% less than a year ago, and the lowest total number since 2005. The number of firms falling…
DetailsRICK DIAMOND/GETTY IMAGES The Flaming Lips were one of a number of international acts scheduled to perform at Echo Festival. Refunds for hundreds of Echo Festival ticket holders are in doubt after its promoter was put in liquidation. McLaren Falls Festival, the company behind music festival was placed in liquidation by its director Paxton Talbot…
DetailsThe Australian operations of vitamin retailer GNC LiveWell have been placed in voluntary administration by parent company Osim International. GNC, which stands for General Nutrition Corporation, was founded in the United States in the 1930s and the brand is licensed in 49 countries. The brand sells vitamins, supplements and nutritional products, as well as sports,…
DetailsWagga City Councils dealings with Douglas Aerospace were plagued by gross ineptitude and mismanagement on the part of its staff, the external review into the saga has concluded. The Advertiser can for the first time reveal the contents of the external report conducted by Prosperity Audit Services into councils relationship with Douglas Aerospace a document which paints a damning picture of…
DetailsLaw firms and banks are adding staff to their restructuring practices from Houston to New York City to scoop up new business as oil prices sink near 11-year lows, pressuring energy companies to slash debt or file for bankruptcy. At least two investment banks and one law firm have bulked up their energy and restructuring…
DetailsLast Modified: Wed, Dec 16 2015. 12 42 AM IST Top 500 firms will need to generate Rs7 trillion to reduce their leverage ratio to sustainable limits, says Sebi chairman Joining the debate over increasing bad loans in domestic firms, U.K. Sinha, chairman of the Securities and Exchange Board of India, or Sebi, on…
DetailsWhat a difference a year makes. A little over a year ago Chesapeake Energy (NYSE:CHK) CFO Nick Dell’Osso told investors that “Chesapeake has never been stronger financially.” That strength was in large part due to the sale of a huge swath of the company’s acreage in the Marcellus and Utica shale plays to Southwestern Energy…
DetailsThe company behind the failed McLaren Valley Festival that was originally due to take place in the Bay of Plenty next month have gone in to liquidation and it could spell bad news for those waiting for ticket refunds. Having called off the two-day festival scheduled for McLaren Falls Park in the Lower Kaimais citing…
DetailsQuite a saga: Creditors tried to depose administrators of failed South Australian fertiliser companies Megafert and Interfert. Source: News Limited LAST week the Australian Securities and Investments Commission fired a shot across the bows of insolvency companies. In forcing Tony Matthews, of Anthony Matthews and Associates, into an enforceable undertaking arrangement, ASIC has effectively placed…
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