With the passage of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) on Thursday, Puerto Rico has narrowly avoided what was expected to be its largest economic calamity yet. The bill prevents the island from being sued for not paying the nearly $2 billion in bond payments that came due on Fridaya possibility…
Remember when Gov. Chris Christie mocked the idea that the Transportation Trust Fund was going broke as simply media-driven hysteria? In February 2015, Christie said firmly the lack of a funding plan didn’t amount to “a crisis at the moment, because we’re funded pretty well now.” The governor’s comment came about a month after Christie tapped former state transportation…
Nick Xenophon celebrates with Rebekha Sharkie, who is leading in Mayo, at his post election party at Adelaide’s Palace Cinema. Photo: James Elsby Nick Xenophon has refused to declare which party he would support in the event of a hung parliament. “That’s a hypothetical, I won’t answer hypotheticals,” he said during a victory party in…
The move, which is subject to Parliamentary scrutiny, is in response to a review of the services funding arrangements which sought to develop a more resilient, transparent fee structure. From 21 July 2016 under the new structure the deposit and administration fee will remain. A new official receivers general fee will be introduced. This will…
Adani Transmission and GMR Energy have entered into an agreement, where the former will acquire 74 percent stake of Maru Transmission Service and 49 percent shares of Aravali Transmission Service of GMR Energy. Both the assets are in Rajasthan and are operating with an average capacity utilisation of over 99.90 percent. The deal value for…
“IT FEELS like we’ve made a mistake. We feel ashamed. We feel embarrassed. “But we’ve done nothing wrong. We’ve done the right thing.” A part of Bundy’s farming community could be on the brink of collapse. At least eight Bundaberg sweet potato growers say they are owed a combined total of nearly two million dollars…
Plants, theyre just like us. Or at least enough like us that they can still judge risk and make good decisions even though they happen to have a few handicaps that we dont.Image: Getty Weve long known that plants are smarter than we think. After all, they probably have memories, even though they dont have…
A creditors meeting for Guvera’s subsidiaries has been set for Thursday July 7. Wayne Taylor Up to 150 angry creditors, who are owed about $15 million, will descend on Deloitte’s Parramatta office next Thursday for the first creditors meeting of Guvera’s subsidiaries that have been placed in administration. The July 7 rendezvous will be the first of two meetings…
While the seismic changes caused by the EU Referendum vote are quite rightly uppermost in retailers minds, the UK Insolvency Service has issued a consultation document reviewing the UK corporate insolvency framework. It is a response to consistent messages from the World Bank which recently put the UK at number 13 in a league table…