UPDATE 12PM: THE administrators of embattled Ostwald Construction Materials has confirmed today that Ostwald brothers Brendan, Daniel and Matthew will regain control over the company. After a second creditors meeting this morning, administrator Derrick Vickers of PriceWaterhouseCooper revealed that creditors had accepted a Deed of Company Arrangement (DOCA) submitted by the three brothers and a “silent…
Australia | 12:24 PM Aristocrat Leisure has hooked Big Fish, a US social casino app developer, which is expected to boost recurring revenue. The acquisition confirms a stronger focus on digital gaming. -Aristocrat’s exposure to digital gaming significantly increases-Difficult to predict when social casino apps will stop growing-Digital opportunities prevail, capital management potential despite structural…
Financial advisers don’t always agree, but when it comes to lending money to family, there’s consensus: Tread carefully. If an adult child needs help buying a first home or has a promising business idea, a family loan can be a fast and convenient option. But there’s a risk of drama down the road. Here are…
A Tauranga building company is being wound up after work stopped on about 30 houses at The Lakes in October. Bella Vista Homes went into voluntary liquidation this week, leaving one young family worried about the prospect of incurring extra costs to complete their home. Liquidator and Hamilton accountant Kim Thompson said that everyone who…
LUXURY handbag maker Oroton has collapsed, becoming the nation’s latest retail victim. The listed luxury retailer, whose most recent public face has been Aussie actor Rose Byrne, announced this morning is was placing itself in voluntary administration. Since the announcement was made, people have been hitting the label’s outlet website to snap up heavily discounted…
| 2 hours ago In his retirement, Register will focus on building his Digital Engagement Center for the Prevention of Violence. Publicis.Sapient co-CEO and longtime agency executive Chip Register announced today that he will retire at the end of 2017. Co-CEO Alan Wexler will take over as the leader of the digital shop as the…
Rigby Cooke Lawyers has strengthened its expertise in litigation and insolvency with the appointment of Katerina Poulakis as senior associate. Poulakis, who has 10 years experience as a lawyer, came from SLF Lawyers. She has a wide range of expertise, including acting in contract, franchise, property and Australian Consumer Law disputes. She also advises in…
NEW DELHI: Allahabad bench of the bankruptcy court has rejected a plea from Exim Bank to treat its claim of Rs 625 crore on JEKPL Private Limited to be treated as financial debt after insolvency proceedings have been filed against the Allahabad-based firm. The decision of Allahabad National Company and Law Tribunal (NCLT) is expected…
A file photo of the Sebi headquarters in Mumbai. Eleven of the 12 large NPA accounts currently under insolvency proceedings, including Bhushan Steel Ltd, Alok Industries Ltd, Amtek Auto Ltd, Lanco Infratech Ltd, Electrosteel Steels Ltd and Era Infra Engineering, are listed companies. Photo: Abhijit Bhatlekar/Mint Mumbai: A committee set up to ease listing, compliance…
The Department of Justice trustee assigned to Toys R Us bankruptcy case has written a fiercely worded letter criticising the retailers plan to pay executives multimillion-dollar sums. In a statement, Toys R Us defended the motion as standard practice. A final decision will be made in court in December. Toys R Us bankruptcy proceedings are…