By Andy Mukherjee If the very first resolution of corporate debt distress by India’s national company law tribunal is any indication, lenders should probably just write off their bad loans. With a recovery rate of 6 percent, why even jostle to get on creditor committees or pay fat legal bills? That’s the uncharitable conclusion to…
MOQ Limited (ASX:MOQ) spent more than $1 million on integration and restructuring costs during the financial year ending June, following its acquisitions of Tetran Group and Skoolbag last year. In May last year, the publicly-listed integrator completed its acquisition of managed cloud services and professional services IT company, Tetran Group, in a bid to bolster…
It started with the shock resignation of WA Greens senator Scott Ludlam in July. A surprise New Zealand citizenship – a legacy from his childhood – had rendered him invalidly elected under Section 44 of the Constitution. In the weeks that followed, foreign-born and second-generation MPs and senators from across the political spectrum poured through…
REINACH, Switzerland–(BUSINESS WIRE)–Evolva (SIX: EVE), which develops and commercializes next-generation specialty ingredients for health, wellness and nutrition markets, details the next phase of its corporate evolution. Evolva announced in its half year results further details of its future intended strategic direction to aggressively grow product revenues and accelerate the path to a cash flow break-even…
Building products manufacturer Boral has been dented by the continued weak performance of its Western Australian operations, reporting lower underlying earnings and a $20 million asset impairment for its WA bricks business. The ASX-listed company said the WA bricks business, which trades as Midland Brick, suffered a 26 per cent fall in volume and a…
Zimbabwe’s budget deficit will increase by nearly $US120 million this year due to a maize subsidy, Reuters calculations show, in a scheme critics of President Robert Mugabe say will be open to abuse and saddle a troubled economy with more debt. Facing an election in 2018, Mugabe says the subsidy will make Zimbabwe self-sufficient in…
THE Sydney lawyer Robert William Cameron, one of a large group of barristers revealed eight years ago as former bankrupts and serial tax defaulters, has been struck off the roll of legal practitioners. But it has taken more than six years to do so. The executive director of the NSW Bar Association, Philip Selth, blamed…