The Government looks set to row back from a promise to establish a stand-alone mortgage court to help property owners with serious arrears problems to stay in their homes. Briefing papers from the Department of Justice indicate the Coalition has started to explore alternative solutions as a means of getting around the commitment, which was…
SBD/July 11, 2017/Facilities Published July 11, 2017 The city of Arlington has “formalized a plan to refinance its AT&T Stadium debt to help pay” for the citys half of the new $1B retractable-roof ballpark for the Rangers, according to Robert Cadwallader of the FT. WORTH STAR-TELEGRAM. The refinancing plan is “among numerous legal… …
Mumbai: Era Infra Engineering Ltd on Tuesday questioned the Delhi bench of the National Company Law Tribunal (NCLT) over whether insolvency proceedings can be initiated against it when winding-up petitions are pending against the company. The tribunal was hearing an insolvency petition filed by Union Bank of India against Era Infra. The company is among…
Promoters of some companies where insolvency and bankruptcy proceedings have been triggered are taking on operating roles to remain close to the action when the insolvency professional takes over. Take, for instance, Bhushan Steel Ltd, one of the 12 companies which the Reserve bank of India has identified for triggering the Insolvency and Bankruptcy Code.…
Icon Water has been criticised for re-signing a $27 million per year shared services deal with ActewAGL before slashing a quarter of its staff, an arrangement that allegedly raised eyebrows among rank-and-file staff. The union that covers Icon Water’s engineering and technical staff, Professional Services Australia, said Icon renewed two contracts with ActewAGL for IT…
Fashion retailer Store Twenty One – which has a number of sites in the North East – has gone into liquidation, resulting in the loss of 900 jobs. Its owner, Indian manufacturing giant Alok Group, failed to secure investment for the chain following a Company Voluntary Arrangement (CVA) in 2016. As a result, corporate recovery…
LIQUIDATION is possible for a collapsed central Queensland coal miner, a creditors’ report has revealed. Winding up Caledon Coal was recommended by administrator PPB Advisory at the last creditors’ meeting. The Cook Colliery mine owner and Wiggins Island Coal Export Terminal part-owner was placed into administration earlier this year with a debt of about $4billion.…
Struggling fashion chain Store Twenty One is being liquidated with the loss of 900 retail jobs. The value clothing retailer, which was based in Solihull in the West Midlands, has entered compulsory liquidation and its 122 stores which ceased trading on Friday will not reopen. The company had been in a precarious financial situation since…
There is a stigma in UK workplaces that employers are rarely tackling, but must. It focuses on the vast levels of debt that millions of UK employees are carrying and which is shown, through mounting evidence, to have a debilitating impact on an employees wellbeing, their work and, as a consequence, a businesses overall productivity.…
WHAT is the best way to kill a zombie? Fans of Daryl Dixon, a character in The Walking Dead, a television series, will know the answer: a crossbow bolt to the brain. Getting rid of corporate zombies, however, is a much more complicated process. Ageing populations mean that the workforces in developed economies are likely…