Homewares retailer Moss River collapses into voluntary administration again, owing $2.6 million: Inside the tough … – SmartCompany.com.au

Bedding and homewares brand Moss River has collapsed into voluntary administration with 65 creditors owed more than $2 million, just over two years after the business first fell into the hands of administrators in July 2015. BDO partners Andrew Sallway and James White were appointed on September 6 as administrators to Fineline Home Products Pty…

Peltz’s Trian may win GE board seat, amid possible large restructuring of industrial giant – Fox Business

General Electric, is nearing a decision on whether to grant a board seat to Nelsons Peltzs Trian Fund Management, a move that signal that the company is contemplating a more radical downsizing of the conglomerate than previously disclosed, FOX Business has learned. Continue Reading Below The decision by GEs board of directors could be made…

New safe harbour laws leave hospitality directors exposed – Open House Foodservice Magazine (press release)

Currently awaiting royal assent, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 amends the Corporations Act 2001 and aims to protect directors acting to undertake a company restructure in response to insolvency, where it will receive a better result for stakeholders. ASIC figures show 227 accommodation and food services businesses entered external administration in the…

NKY lawmaker: Pay off pension debt with casino revenues – Cincinnati.com

CLOSE Kentucky’s governor says he’s not privy to any news regarding Trump-McConnell but doesn’t think their friction will affect Kentucky. Matt Stone/Courier-Journal/USA TODAY Network Dennis Keene(Photo: Provided) Casinos in Kentucky might seem less likely than ever with Republicans in complete control of state government.  But that hasn’t discouraged Northern Kentucky Rep. Dennis Keene, D-Wilder, from…

We went to a Toys R Us store the day after the bankruptcy announcement and we were surprised by what we found – Business Insider

Impressive displays were scattered throughout the store, but don’t expect a Ferris Wheel.Getty/Bennett Raglin Toys R Us has filed for bankruptcy. The company has said it is not closing any stores or altering any opening hours. The specialty toy store has struggled as it increasingly competes with online retailers in its two main businesses: baby goods and toys.…

‘Bankruptcy (Amendment) Bill, 2016 will give fair treatment to all’ – The Borneo Post

Noor Nasimah conducts the briefing on Bankruptcy (Amendment) Bill 2016. MIRI: The Department of Insolvency hopes that the Bankruptcy (Amendment) Bill, 2016 will not only give fair treatment to all involved including creditors, debtors as well as bankrupt principal borrowers and guarantors, but also the department, once it is enforced. Its head here, Noor Nasimah…

Big commission paying property developer folds with $283000 debts – The Australian Financial Review

by Duncan Hughes A property selling intermediary which offered commission payments of up to 15 per cent has been placed in liquidation with debts of about $283,000, according to regulatory records. Taylor Dow Property Group, which was based in Port Melbourne, about five kilometres south-west of Melbourne’s central business district, folded with assets of about…

Sabah assembly taking wait-and-see approach to Lajim Ukin’s bankruptcy – The Star Online

KOTA KINABALU: The Sabah State Assembly is taking a wait-and-see stance regarding the bankruptcy proceedings against state opposition chief Datuk Lajim Ukin. Assembly Deputy Speaker Datuk Johnny Mositun said they had not received any formal notice that the Klias assemblyman and Parti Harapan Rakyat Sabah president had been declared a bankrupt. We will wait and…