DEBT-LADEN Mackay Sugar has turned its back on the sale of its profitable cogeneration plant and instead will look for investors to help pay down its $200million debt. After reviewing offers to buy the $120million plant the grower-owned company has announced it has decided to put the sale on hold and look elsewhere. The sale…
Newcastle fraudster Lemuel Page continues to live the high life flaunting his taste for fine cars. If the holidays to the Greek Islands and luxury beachfront unit weren’t infuriating enough for his creditors, they were apoplectic at Page’s latest toy: a Ferrari 458 Italia V8 worth up to $500,000. Newcastle fraudster Lemuel Page, pictured with his partner Renay Bull, has been…
Accountant Myles Kirby of Kirby Healy Chartered Accountants was appointed as liquidator of Ebise Patrick Street Limited following a creditors meeting on September 11, papers filed with the Companies Office show. His role is to recover any assets available to discharge liabilities, and in addition to assess the conduct of directors prior to insolvency. Accounts…
ONLINE gambling sites have been told to stop luring children by using cartoon characters in “unacceptable” ads. Regulators have urged operators to remove the adverts which could bring kids to the websites. Getty – Contributor Online gambling sites have been told to stop attracting children to their sites Some of Britains biggest betting operators are…
The bankruptcy code for individual debtors, expected to be notified soon, would hopefully synchronize well with IBC and provide for a way to deal with personal guarantees in a time-bound manner. Photo: iStock Banks in India have traditionally placed tremendous faith on promoters and personal guarantees provided by them, on par with if not higher…
Under the IBC, appointment of a resolution professional marks the onset of insolvency resolution in a debtor company Sudipto Dey Last Updated at October 22, 2017 23:54 IST … Read the full article at: http://www.business-standard.com/article/opinion/why-directors-should-be-wary-of-insolvency-and-bankruptcy-code-117102200729_1.html
The Greek government has moved to have the countrys largest shipyard Hellenic Shipyards declared bankrupt. The insolvency proceedings were filed under the country’s revised bankruptcy code, which foresees the rapid sale of assets and the withdrawal of old shares. The governments petition has brought a strong reaction from the yards owner, Privinvest Group of Lebanon…
BM Accounting Limited are proud to have been supporting the best commercial and agri businesses in Hawke’s Bay for the past two decades. The firm has recently moved into brand new offices in the Village Exchange complex, right in the heart of Havelock North. This space has been custom designed to support businesses in Hawke’s…
Imagine you own a large private company that is struggling financially. It could perhaps be rescued if someone were prepared to inject the capital. But theres a big roadblock: it has a deficit-laden pension fund. Under British rules, there is only one way to ensure the rescuers cash doesnt all get devoured by the pension…
Gambling Commission and Advertising Standards Agency have demanded the games be removed Kids cartoons and colour schemes used to entice people to play their games More than 450 online gambling sites received four-page letter to pull the games By Charlie Bayliss For Mailonline Published: 22:10 AEDT, 22 October 2017 | Updated: 22:15 AEDT, 22 October…