The cost of restructuring at Virgin Australia kept the airline underwater in the final quarter of 2016. The underlying loss before tax of $21.9 million for the three months was an improvement of $15 million on the corresponding period the year before. The result includes the impact of previously announced charges, mainly restructuring. For the…
A new poll of senior leaders from Midwest Farm Credit lenders shows commodity prices as the greatest challenge facing their customers. Farm Credit lenders are responding to this by providing services to restructure the financial situations of their customers. In a new “AgriThought” report, Jerry Lehnertz, senior vice president of Credit at AgriBank, examined the…
SINGAPORE – Mainboard-listed offshore services firm Swiber Holdings has made an application to wind up the company and place it into provisional liquidation, it announced on Thursday (July 28). The High Court of Singapore has appointed Cameron Lindsay Duncan and Muk Siew Peng as the joint and several provisional liquidators of the company. The winding-up…
The number of Scots going bankrupt is up by more than 50% over a year, according to the latest quarterly figures. There were 1,144 bankruptcies recorded in April to June this year, a rise of 14.7% on the previous quarter and 51.1% higher than the same period in 2015. But the total for the first…
Recently I was asked what advice Id give to financial planners and their clients to navigate the current environment. Having thought more about it, I thought Id share my battle plan. First we must acknowledge that asset prices across virtually every market are either at fair value or significantly over-valued. As US investor Jayme Wiggins…
PRAGUE The Czech government approved a 700 million crown ($29 million) loan to help keep afloat hard coal miner OKD, an insolvent unit of New World Resources (NWRR.L) (NWRR.PR), the prime minister and industry minister said on Wednesday. OKD, a major employer in the Czech Republic’s industrial northeast, was declared insolvent by a court in…
Deutsche Banks profits nosedived from 800 million to just 20 million in the second quarter. The results were impacted by a tough environment for European banks, and a range of restructuring-related charges, as new CEO John Cryan looks to clean up the banks act. The bank took goodwill impairments of 285 million, restructuring and severance…
Reports have emerged that Italian motorcycle manufacturer Benelli has been declared bankrupt by the Italian court in Pesaro over a 120,000 euro (RM535,600) debt. The matter arose after Benelli failed to pay suspension maker WP Performance the amount owed for the supply of suspension components. As a result, it has been reported that some completed…
A Brazilian court has approved the reorganisation of the debt of Shree Renuka Sugars ‘ subsidiary in the country. The recast slashes Renuka Vale do lvai’s debt by Rs 168 crore, the company’s management said. While the plan to restructure the debt was approved by creditors on June 6, the court order came on Tuesday,…
07:00 27 July 2016 Gemma Mitchell According to figures released by The Insolvency Service, more than 400 people declared insolvency in Ipswich last year. Ipswich had the seventh highest personal insolvency rate in the country in 2015 with hundreds of people unable to pay their debts. … Read the full article at: http://www.ipswichstar.co.uk/news/ipswich_seventh_highest_personal_insolvency_rate_in_england_in_2015_1_4632823