Share 2,045 Tweet Comment Peabody Energy, the worlds largest privately-owned coal company, announced Wednesday that it has filed for Chapter 11 bankruptcy, following a significant downturn in the coal market that left the company saddled with debt. Peabody, which is headquartered in Missouri, maintained that its mines and offices would remain open, and that its…
KUALA LUMPUR: CLIQ Energy Bhd is considering three methods of liquidation such as members voluntary liquidation, creditors voluntary liquidation and winding up by court order. According to its filling to Bursa Malaysia today, CLIQ said the documentation for all three winding up methods were being considered and/or prepared. CLIQ also said it was not cost…
German finance minister Wolfgang Schäuble has ruled out debt relief for Greece, rebuffing a key demand of the International Monetary Fund even as he warned that the current bailout would fall apart without the IMFs participation. The intervention on the sidelines of the IMFs spring meetings in Washington highlighted growing tensions between the IMF and…
Comments AA When it comes to shareholder activism, much attention has been paid to the long side of things – well-known folks like Carl Icahn and Nelson Peltz who take stakes in companies and agitate for changes they feel will unlock hidden value. But how are the shorts doing? These are the investors who make…
NEW YORK (GenomeWeb) Canadian life sciences firm DiagnoCure announced today that its board has approved a plan to voluntarily dissolve the company and liquidate its assets. “The board of directors of DiagnoCure has determined that the liquidation and dissolution is advisable and in the best interest of the corporation and its shareholders,” DiagnoCure Chairman Jacques…
The manifold and testing facility at the oilfield in Kazakhstan which Cliq Energy had previously set its sights on. KUALA LUMPUR: Cliq Energy Bhd, which has been named a respondent along with the Securities Commission (SC) in the judicial review application filed recently by Best Oracle Sdn Bhd, will not oppose the review. It will,…
THE Insolvency Practitioners Association is to become the first professional body to grant partial licences for practitioners wishing to specialise in either personal or corporate insolvency work. In October 2015, the governments Deregulation Act opened up the insolvency licensing regime to create greater competition and flexibility by allowing specialisation. Given the enabling provisions were enacted…
When it comes to shareholder activism, much attention has been paid to the long side of things — well-known folks like Carl Icahn and Nelson Peltz who take stakes in companies and agitate for changes they feel will unlock hidden value. But how are the shorts doing? These are the investors who make bearish bets on stocks and…
Oil and gas company Linc Energy has been placed into voluntary administration. Administrators PPB Advisory has been called in to work with management on options including a possible restructure. In a statement to the ASX the company said after receiving legal and financial advice, and considering commercial prospects, the board decided it was in…
Arrium’s administrator says he has been overwhelmed by offers of support for the Whyalla steelworks. Photo: Brendan Esposito Some of Australia’s construction heavyweights including John Holland, Lendlease and billionaire Harry Triguboff’s Meriton Apartments have all pledged to buy more structural steel from Arrium to help the collapsed steelmaker. The administrator of Arrium, Mark Mentha, said on…