COSCO remains uncertain on securities prices amidst shipyard restructuring – Yahoo News

Trading suspension might be underway. A new company, COSCO Shipping Heavy Industry Co., Ltd, has been established by China COSCO Shipping Corporation group as it proceeds with the restructuring of its shipyard business, according to a media release at the SGX. China COSCO Shipping Corporation said that the shipyard business restructuring is geared towards centralising…

CCB eyes debt relief unit – Hong Kong Standard (press release)

China Construction Bank Corporation (0939) proposed yesterday to spend 12 billion yuan (HK$13.4 billion) to establish a wholly-owned subsidiary, CCB Asset Management Co, that will take charge of converting debts into shares. “CCB AMC is proposed to specialize in market-driven debt-to-equity swap business and will mainly operate and conduct financial business, such as acquisition of…

Employees face uncertain Christmas after security firm Kudos Australasia collapses into voluntary administration – SmartCompany.com.au

Administrators have recommended a security firm that owes creditors more than $1 million be wound up, as workers at the company face an uncertain Christmas. Voluntary administrators from Mackay Goodwin were appointed to Kudos Australasia Pty Ltd, trading as Kudos Audio Visual and Kudos Security Solutions, on November 9, however, SmartCompany understands employees of the…

Supreme Court of Justice rules on employee dismissal following employer insolvency – International Law Office (registration)

Facts Decision The Supreme Court of Justice’s July 5 2016 decision in Case 6034/13.8TBBRG-N1.S1 examined whether the payment due for the termination of an employment contract as a result of a collective dismissal following an employer’s declaration of insolvency was a debt of the insolvent estate or the insolvent company. Facts An employee brought an…

Liquidation of company ordered to pay former employee more than $20000 stalls – Stuff.co.nz

Goshen Holdings’ creditors might have to fork out more to receive and money owed. People owed money by a failed freight and logistics services company ordered to pay a former employee $20,000 won’t see a cent unless they bankroll further legal action. Palmerston North-based company Goshen Holdings folded in 2013 after it lost its only…