With the NCLT admitting ICICI Banks petition against ABG Shipyard, the companys board of directors will be dissolved. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Tuesday admitted the insolvency petition against ABG Shipyard filed by ICICI Bank under the Insolvency and Bankruptcy Code (IBC). The bench has appointed Sundaresh Bhat of…
A man was sentenced Monday for his role as an enforcer in a violent gambling organization run by a former University of Southern California football player. Jack Rissell, 51, was convicted of extortion and sentenced to 24 months in prison, according to the U.S. Attorney’s office. A USC football player, Owen Hanson, was in charge…
FORT WASHINGTON, Pa., Aug. 1, 2017 /PRNewswire/ — Walter Investment Management Corp. (the “Company”) (NYSE: WAC.BC) today announced that it had entered into a Restructuring Support Agreement (the “RSA”) with its senior lenders holding, as of July 31, 2017, more than 50% of the loans and/or commitments outstanding (the “Consenting Term Lenders”) under the Company’s Amended…
Debt collector and payday lender Credit Corp Group Limited (ASX: CCP) released its annual results for 2017 this morning. Its share price rose 5% to $17.76 at the time of writing. Here?s what you need to know: Revenue rose 17% to $266 million Net profit after tax (NPAT) rose 20% to $55 million Earnings per share of 114.7 cents Dividends…
(Reuters) – Philadelphia Energy Solutions LLC, the owner of the largest U.S. East Coast oil refining complex, has hired an investment bank to help tackle its debt burden, as it struggles with low profit margins, people familiar with the matter said on Tuesday. The move underscores the challenges facing some East Coast refineries, which used…
A specialist auto services company in Falkirk has been placed in liquidation with the loss of all 20 jobs. MTH Group Ltd, which was founded in 1969, provided electrical, engineering and support services for cars and commercial vehicles. Tom MacLennan and Iain Fraser, of FRP Advisory LLP, have been appointed joint provisional liquidators. They said…
Law firm Howes Percival is targeting further national expansion of its insolvency team following the acquisition of Summers Nigh Law, and the recruitment of Michael Green, Weightman’s former national head of Restructuring/Insolvency. Summers Nigh Law is a niche insolvency firm with a significant number of local and national clients in the development & construction, manufacturing,…
UPDATE 7pm: AFTER months of uncertainty an embattled central Queensland miner and part-owner of Wiggins Island Coal Export Terminal was placed into liquidation today. Administrators PPB Advisory confirmed this afternoon creditors voted that all five companies in the Caledon Coal Group (Caledon Coal Pty Ltd, CC Pty Ltd, Guangdong Rising (Australia) Pty Ltd, Blackwater Coal…
Bankruptcy filings in the first half of 2017 were down 1.5% from the same time a year ago in Wisconsin.(Photo: Journal Sentinel file photo) Wisconsin posted its fewest bankruptcy filings in a decade in the first half of 2017, a reflection of an improved economy and the availability of jobs. The 8,921 bankruptcy petitions filed…
Goldman Sachs has been having a tough time in bond trading,a business that was once a dependable source of revenue.The US bank delivered $US2.8 billion in fixed income, currencies and commodities client execution revenues in the first half of 2017, down 19% from the same period last year. That figure was $US4.7 billion in 2015…