Channel Ten has been forced to go into voluntary administration after its billionaire shareholders told it on the weekend they would no longer guarantee a key loan. The TV broadcaster has appointed KordaMentha as voluntary administrators of the company and its subsidiaries, it announced in a statement to the ASX on Wednesday morning. Play Video Don’t Play Uber CEO takes…
Following news yesterday that Australian TV network Channel Ten had suspended trading of its shares following news that a number of key shareholders would not guarantee the companys future, it has now been confirmed that the company will be placed into voluntary administration. This is extremely disappointing for all of us, said Ten CEO Paul Anderson in a meeting…
Sears said Tuesday its cutting 400 jobs at corporate offices as it works towards a goal of reducing costs by $US1.25 billion in fiscal 2017. The cuts will primarily affect workers at Sears headquarters in Hoffman Estates, Illinois. The move comes one week after the retailer revealed it was closing 65 more Sears and Kmart…
These make up 25% of the 8 lakh crore non-performing assets of the banking system Mumbai, June 13: To purge the banking system of big-ticket stressed assets, the Reserve Bank of Indias internal advisory committee (IAC) has recommended for immediate reference under the Insolvency and Bankruptcy Code (IBC) 12 accounts totalling about 25 per cent…
MUMBAI: Clamping down on bad loans, the RBI today identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans, accounting for 25 per cent of total NPAs of banks. The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore, of which Rs…
Nazanin Jafarian Ghaissarifa married Folarin Alakija, who is son of Africa’s wealthiest woman worth $2.1 billion Lavish Blenheim Palace event cost estimated £5million, had one white roses and performance Robin Thicke MailOnline has discovered that his bride Naza was raised in Manchester after her parents separated Nazas mother Nooshin, declared bankrupt in 2014, lives in…
Sears is slashing 400 full-time jobs at its corporate offices, in Hoffman, Illinois, and from its support functions, the retailer announced Tuesday. Stephan Zoll, president of Sears’ online operations, is also stepping down from the company, effective June 15, Sears said Tuesday in a separate 8-K filing with the Securities and Exchange Commission. The 400…
An attempt by the controversial businessman who bought BHS for £1 to keep his investment vehicle afloat has been dealt a further blow with the appointment of insolvency professionals to wind up his company. Sky News has learnt that Milner Boardman and Duff & Phelps have been appointed as joint liquidators to Retail Acquisitions Limited…
Dana Gas PJSC plans to more than halve profit rates on $700 million of its Islamic bonds after they were found to be non-compliant with religious law, adding a new twist to a debt restructuring initiated in May. The United Arab Emirates-based energy producer said on Tuesday in a filing that it proposes exchanging $350 million…
By Dominic Powell and Emma Koehn. Ten Network Holdings has been placed in a trading halt until Thursday. The company told the the market on Tuesday that two of the shareholders guaranteeing the TV networks loan facility have refused to extend support for it beyond December. The Australian reports financial advisors for Lachlan Murdoch and…