Personal insolvencies have risen for the first time since the GFC, according to data released by the Australian Financial Security Authority. Personal insolvencies jumped by 4.4 per cent in the last year, the first increase reported since the 2009 financial year. The big resources states Western Australia and Queensland were the main contributors,…
Lenders to decide on converting loans into equity/debentures in 3 months http://mybs.in/2TG780t Copy tiny URL to save and share articles. Hindustan Construction Company (HCC) has become the first firm to get relief under the Reserve Bank of Indias Scheme for Sustainable Structuring of Stressed Assets (S4A) for its Rs 4,900-crore debt. …
Lenders to recast 12,000-cr debt Mumbai, July 13: A joint forum of lenders will consider the recast of HCCs 12,000-crore debt pile, the first under the RBIs recently announced scheme for restructuring of stressed assets of companies. The RBIs Scheme for Sustainable Structuring of Stressed Assets (S4A) allows banks to separate the total debt of…
SYDNEY, Australia, July 13, 2016 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE:FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announced the expansion of the firm’s Corporate Finance & Restructuring segment in Australia with the addition of two Senior Managing Directors, Marcus Derwin and Michael…
Newly set up Bulgarian co buys insolvent electric motor plant Elma for 1.1 mln euro Kritchanut/Shutterstock.com SOFIA (Bulgaria), July 13 (SeeNews) – A recently-registered Bulgarian real estate company, Solid-85, has won an auction for the sale of insolvent electric motor plant Elma, offering to pay 2.15 million levs ($1.2 million/1.1 million euro) for its assets,…
Dick Smith administrator Joseph Hayes from McGrathNicol. David Rowe There is nothing like a clinical post mortem to lift the corporate veil and reveal the desperate actions taken by a company sliding rapidly towards insolvency. Chanticleer can thank the administrator of Dick Smith Holdings, Joe Hayes from McGrathNicol, for a particularly well written case study…
Entrepreneurs such as car dealers are inherently gamblers, taking risks that others don’t. The National Automobile Dealers Association’s annual convention henceforth will be held in Las Vegas every other year for a reason that goes beyond lots of hotel rooms: Dealers are at home in that environment. None, perhaps, more so than Billy Walters. Walters,…
Lenders to take a call to convert loans into equity/debentures in three months http://mybs.in/2TG780t Copy tiny URL to save and share articles. Construction major Hindustan Construction Company (HCC) has become the first Indian company to get relief under the Reserve Bank of Indias Scheme for Sustainable Structuring of Stressed Assets (S4A) for…
New Delhi: Homegrown auto major Mahindra & Mahindra is restructuring its two-wheeler business after the division failed to meet its expectations and has given a voluntary retirement scheme to 250 workers as part of the process. It is one vertical which has not met expectations last year. We are currently in the process of deciding…
The financial review also addresses the ability of management to successfully manage the company out of its financial difficulties. voluntaryadministrationexperts.com.au are insolvency advisors that have true depth of experience in the field of insolvency. This experience empowers them to offer the following value services: Financial Review:A business that is unsure of where it stands financially…