March 3, 2016 6:35 p.m. ET Retailer Sports Authority Holdings Inc. received court approval on Thursday to use a portion of its $595 million bankruptcy loan and to begin liquidating a number of its stores. At a hearing in U.S. Bankruptcy Court in Wilmington, Del., Judge Mary Walrath said the company could use up to $275 million of its…
©Bloomberg Royal Bank of Scotland and GE Capital have sold more than 2bn of non-performing Italian corporate loans to the private equity firm AnaCap, in a sign that the long-awaited clear-out of the countrys bad debts is gathering pace. UK-based AnaCap will acquire a 1bn portfolio from each of the two lenders. The loans were…
A Melbourne-based manufacturer of antipasto food products is for sale, after the business collapsed into voluntary administration on Wednesday. Pronto e Fresco Pty Ltd has been operating for more than 15 years and is based in the Melbourne suburb of Broadmeadows. The business supplies antipasto products such as semi-dried tomatoes, olives and grilled vegetables to…
Comments Print /License AA Target Canada was close to a deal with its key creditors on Thursday that could pave the way to ending the U.S.-owned retailers year-long-plus insolvency saga. Target Canada collapsed under court protection on Jan. 15, 2015, closing all 133 of its stores here within three months and letting go its 17,600…
To revive the financial sector in India currently plagued with stressed assets, FM Arun Jaitley in Union Budget 2016-17 vowed for comprehensive bankruptcy code, which will be enacted and brought in to deal with illicit deposit taking schemes. Declaring financial sector reforms as one of the “nine pillars” of Budget 2016-17 Jaitley stated that such…
Employers are increasingly looking to lure talented college graduates burdened by student loans with offers of help to repay their debt. But is the new perk really a benefit or simply employers giving lip service to the woes of 20-somethings? It appears that in many cases, having the boss help pay off student loans can…
Five years ago, Newcastle electrician-turned-mining magnate Nathan Tinkler was Australias youngest billionaire. This week, he marked his 40th birthday by being declared bankrupt after GE Commercial took him to court over a $2.8 million disputed debt following the sale of his personal jet. A sequestration order was issued against Tinkler on February 9, and the…
PERTH (miningweekly.com) Trading in the shares of minerals developer Triton Minerals was unexpectedly suspended on the ASX on Thursday as the company went into voluntary administration. The administrators were working with the company to review its operations and financial position, and to formulate potential strategies to preserve and restructure the company and its operations. Earlier…
STACY/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. The Christchurch bar that closed last Sunday following a stoush with the city council is in liquidation. The owners of Cashmere establishment Kaizuka Eatery and Garden Bar… Read the…
Abengoa Bioenergy US Holding LLC, a unit of Spanish conglomerate Abengoa SA (ABG.MC), received interim financing to pay wages and keep the lights on while it tries to reorganize under Chapter 11, according to a court ruling on Wednesday. Abengoa Bioenergy filed for bankruptcy protection last week. Lawyers on Wednesday said it is a guarantor…