A commodity trading company, Finatrade, is said to have begun series of job cuts in anticipation of an eventual liquidation as the company is soaked in more than GH¢1 billion debt that is threatening the survival of some banks in the country. The company, which is arguably the biggest commodity trading company in the…
Kesoram Industries’ restructuring programme, which began in June 2014, has finally started paying off for the company, as it was able to pull out from the red during the first half of the current fiscal year. The restructuring agenda mainly centred around the tyre business which saw an over-capacity production resulting…
An Aruban court has officially declared Tiara Air (3P, Aruba) bankrupt following a motion filed earlier this month by several disgruntled employees claiming unpaid back wages. According to local news outlet Noticiacla, the ruling was issued on Monday, November 28. In it, the judge agreed with the applicants that given continuing uncertainty surrounding the airline’s…
FOUR years ago, Sunshine Coast developer Scott Juniper raced after the family Range Rover as it was being repossessed to get his daughter’s baby seat out of the back. Only weeks earlier, he had obtained the paperwork to register for active bankruptcy with debts totalling $72 million. He handed in the paperwork on his 40th…
Nov 29 Antrim Energy Inc * Announces 2016 third quarter results * Board has concluded that it is in best interest of shareholders, corp to proceed with voluntary liquidation and dissolution of corporation * Itis anticipated that formal dissolution and winding up of corporation and its subsidiaries will occur in early 2017 * Board retains…
Image Credits: Gallo Images Startling claims that Western Province Rugby Union (WPRU) is faking liquidation of its PTY arm have come to light in recent weeks. The union was granted provisional liquidation by the courts last week, but a company on its creditors has since claimed that there are ulterior motives to this move. Aerios…
A SPORTSWEAR company launched by England and Sussex cricket legend James Kirtley looks set to go bust. Kirtley set up MKK Sports Limited more than ten years ago with three business partners supplying sports clubs throughout the country with kits. High profile clients included Sussex and Middlesex County Cricket Clubs (CCC). But a creditors’ meeting…
Restructuring & Insolvency 2017: Analysis The collaboration between Whos Who Legal and Global Restructuring Review has again generated extensive research into restructuring and insolvency legal markets around the world. All told, we list 570 lawyers this year from 47 jurisdictions. Thought Leaders Europe Rita Gismondi Gianni Origoni Grippo Cappelli & Partners, Rome…
A zinc mining project in north Queensland will be revived after its owners raised the $30 million required to fund a return to production. Development company Red River Resources announced on Friday that capital works and refurbishment would begin immediately on Thalanga zinc project, some 200km southwest of Townsville. It anticipates production at the project,…
New Delhi, Nov 30: With insolvency professional agencies getting registered, the Insolvency and Bankruptcy Code will become operational from tomorrow. The Code will help quicker resolution of cases and unlock the value of assets, Mamta Binani, President, ICSI, the apex body of company secretaries, told reporters here today. The entire Insolvency and Bankruptcy Code will…