Telstra reseller, Interactive Telecoms, is likely to enter into liquidation today, following the closure of the business in early August. The companys joint administrator, Ian Purchas, told ARN that Telstra withheld a “significant payment” after terminating its licensing agreement with the reseller. The New South Wales-based company entered into voluntary administration on 2 August and…
Sept 7 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times – An unusual 1.5 million pounds ($1.96 million) cash bonus for the chief executive of Aveva Group PLC for clinching the merger this…
Toys R Us Inc. has retained lawyers from Kirkland & Ellis LLP to help restructure $400 million in debt due next year, a person familiar with the matter said, the latest move by the toy chain as it struggles with growing online competition. The Wayne, N.J.-based retailer has been burdened with debt since private-equity owners…
Telstra reseller, Interactive Telecoms, is likely to enter into liquidation today, following the closure of the business in early August. The companys joint administrator, Ian Purchas, told ARN that Telstra withheld a “significant payment” after terminating its licensing agreement with the reseller. The New South Wales-based company entered into voluntary administration on 2 August and…
THE future of Ostwald Bros still hangs in the balance, with interested parties set to decide within weeks whether to dissolve or save the business. Dozens of unsecured creditors met with the administrators for the struggling civil construction company in Toowoomba yesterday, as further details were revealed about its financial woes. PriceWaterhouse Coopers’ Derrick Vickers…
Another Affordable Care Act (ACA) health insurance co-op bit the dust. Baltimore-based Evergreen Health, one of 23 co-ops created as a way to stimulate competition in the ACA’s health insurance marketplace, has been declared insolvent and will be liquidated, and all its members’ policies will be canceled at the end of September. Four other insurers…
The Financial Conduct Authority is facing pressure from the Treasury select committee of MPs to publish the report in to Royal Bank of Scotlands troubled business restructuring unit. Nicky Morgan, the Conservative MP who chairs the powerful committee, has called on the FCA to publish the report, which was completed last year, after it was…
Ruchi Soyas primary lines of business include selling packaged edible oils and soyabean chunks, oilseed extraction, edible oil refining, and wind power generation. Mumbai: The board of edible oil maker Ruchi Soya Industries Ltd has set up a committee to explore business restructuring options, the company said in a statement. Ruchi Soya is considering internal…
Company donates $100,000 for Harvey relief, triples employee contributions for hurricane recovery San Mateo, Calif. (PRWEB) September 06, 2017 Freedom Debt Relief (FDR), a subsidiary of Freedom Financial Network (FFN) an innovative financial services company that enables consumers to overcome debt, build wealth and achieve better financial health has established a charitable contribution fund to…
TORONTO, Sept. 6, 2017 /CNW/ – GSNH LLP continues to build and strengthen its growing Restructuring & Insolvency Group with the arrival of Jennifer Stam. Jennifer was previously a Partner at Gowling WLG. Jennifer’s joining the Group reinforces its position as a leading insolvency law boutique offering clients sophisticated insolvency expertise with an entrepreneurial, facilitative…