NANNING — State-owned Guangxi Non-ferrous Metals Group Co in South China’s Guangxi Zhuang autonomous region has been declared bankrupt, despite a nine-month restructuring push. According to an announcement published by the intermediate people’s court of Nanning City on Sept 12, the company had neither submitted a restructuring plan within six months of the court’s initial…
The consultation ran between May and July and looked at four broad areas. These were: introducing a moratorium for distressed businesses to benefit from protection against legal action while considering their options for rescue; widening the definition of essential supplies; developing a new restructuring plan would enable (for the first time in the UK) a…
Comments (1) Lisa Thomas, insolvency practitioner at Neville & Co explains how an Individual Voluntary Arrangement (IVA) can help in getting on top of personal debts. You will probably have seen the adverts on daytime television showing happy, relaxed looking people being given a fresh start by writing off their debts. It sounds too good to…
Etihad Airways partner airberlin is set to undergo a “far-reaching” restructuring including up to 1,200 job cuts and giving its rival Lufthansa up to 40 of its aircraft. Germanys second-largest airline said late on Wednesday that it would become a “leaner, fitter, stronger” carrier operating from its two key hubs in Berlin and Dusseldorf, with…
Bendigo and Adelaide Bank will buy $1.35 billion of mortgage debt from the West Australian government as it looks to expand its business outside the eastern states. The bank said it has agreed to buy about 6,000 standard residential home loans from the state government’s Keystart Housing Scheme Trust, designed to help people buy homes…
Bendigo and Adelaide Bank will buy $1.35 billion of mortgage debt from the West Australian government as it looks to expand its business outside the eastern states. The bank said it has agreed to buy about 6,000 standard residential home loans from the state government’s Keystart Housing Scheme Trust, designed to help people buy homes…
Allowing Clive Palmer to sue liquidators for not returning assets held by failed company Queensland Nickel would be a “startling affront to justice”, the Supreme Court has ruled. The former politician, through some of his other companies, had sought leave to proceed with a claim against the Townsville refinery’s collapsed manager for refusing to transfer…
Allowing Clive Palmer to launch a bid to claw back assets held by failed company Queensland Nickel would have been a “startling affront to justice”, the Supreme Court has ruled. The former politician, through some of his other companies, had sought leave to proceed with a claim for all assets held by the Townsville refinery’s…