Troubled trucking and logistics firm McAleese has gone into voluntary administration, saying it is insolvent or likely to become insolvent. The move comes after the firm’s financiers, led by high-risk debt investor SC Lowy, pulled the pin on a deal struck in early June to recapitalise the company because it did not meet the…
Womens clothing retailer Seduce has entered voluntary administration and its Australian bricks-and-mortar stores have closed, just weeks after being hit by a wind-up notice from its landlord. Administrators from Deloitte were appointed to Seduce Pty Ltd on August 16, with Michael Billingsley and Neil Cussen acting as joint administrators. Billingsley and Cussen were subsequently appointed as…
SYDNEY (AP) Qantas Airways Ltd. posted a record full-year profit of 1.53 billion Australian dollars ($1.1 billion) on Wednesday, after undergoing a cost-saving restructuring amid steep losses just two years ago. The airline’s result for the fiscal year through June is a 57 percent boost over last year’s profit of AU$557 million, and prompted Qantas…
Joyce Laboso, the National Assembly Deputy Speaker. PHOTO | FILE By EDWIN MUTAI, [email protected] Sunday, August 28 2016 at 16:44 Farmers have sought the intervention of Parliament in their latest bid to establish the extent of insolvency of Chemelil Sugar Company. Cane farmers from Kisumu and Nandi counties have petitioned Parliament to order forensic audit…
A JUDGE will decide in the coming weeks whether or not a proper environmental order was given to Linc Energy founder Peter Bond earlier this year, directing him to clean up an underground gas project site near Chinchilla. The Queensland Department of Environment issued Mr Bond with the environmental protection order in May, stating it…
Emma Frost, from Bedfordshire, said she was shocked to discover how many charity direct debits were being taken from the bank account of her late father Joseph. An undercover reporter was also expected to meet targets, despite a statement on the Great Ormond Street Hospital Childrens Charity (GOSHCC) website that “our fundraisers are not given…
A JUDGE will decide in the coming weeks whether or not a proper environmental order was given to Linc Energy founder Peter Bond earlier this year, directing him to clean up an underground gas project site near Chinchilla. The Queensland Department of Environment issued Mr Bond with the environmental protection order in May, stating it…
When the restructuring is complete, current holders of Keys senior notes are expected to own about 95 percent of the reorganized companys common stock, and Keys current common equity holders will own the remaining 5 percent. Los Angeles-based investment firm Platinum Energy is expected to become Keys largest shareholder. In a statement, Platinum Equity Partner…