THE man behind the ill-fated Teralba Waters development, Colin Wallace, is facing further strife with two more of his companies placed in liquidation owing $2 million. Property purchasers and investors, many from Mr Wallace’s Christadelphian Church, put their faith and money into his projects and are now demanding answers about what went wrong. The former bankrupt…
TORONTO, Dec. 22, 2017 (GLOBE NEWSWIRE) — Advantex Marketing International Inc. (CSE:ADX) (Advantex or the Company), a leading specialist in the marketing services industry, today announced it has completed a financial restructuring (the Restructuring), including a refinancing (the Refinancing) of its outstanding senior secured non-convertible debentures with a maturity date of December 31, 2017 (collectively,…
Dr Evan Jones summarises the issues confronting the Hayne Royal Commission, which he has been investigating for over 30 years. [Read Part One: The Clayton’s Banking Royal Commission] OVER THE LAST 30 YEARS (since comprehensive financial deregulation), the scale of public exchange regarding complaints about banks, bank opposition to reform, and the combination of official formal concern…
Joe Bastianich said Friday that he knew Mario Batali said ‘inappropriate things’ to staff, but ‘never heard’ of sexual misconduct accusations The two are co-owners of the B&B Hospitality group with Bastianich’s mother Lidia, which includes 24 restaurants and five Italian markets across the U.S. Bastianich’s new comments come as a new report accuses him…
(Adds more detail) MOSCOW, Dec 22 (Reuters) – Metals and mining company Mechel has secured the backing of around 70 percent of creditors for a restructuring of its $1 billion syndicated loan, two sources familiar with the situation said. This brings Mechel close to achieving the 75 percent support from creditors needed to reach the…
BBC’s Hugo Duncan declared bankrupt BelfastTelegraph.co.uk Singer and broadcaster Hugo Duncan has been declared bankrupt at the High Court in Belfast. https://www.belfasttelegraph.co.uk/news/northern-ireland/bbcs-hugo-duncan-declared-bankrupt-36431030.html https://www.belfasttelegraph.co.uk/incoming/article36335843.ece/4c2c3/AUTOCROP/h342/Hugo%20Duncan%20and%20Friends%20at%20Portico.jpg Email Singer and broadcaster Hugo Duncan has been declared bankrupt at the High Court in Belfast. Proceedings were brought against the 67-year-old over tax arrears related to his private entertainment company. The…
Singer and BBC broadcaster Hugo Duncan has been declared bankrupt at the High Court in Belfast. Proceedings were brought against the 67-year-old over tax arrears related to his private entertainment company. The order was based on a petition by HM Revenue and Customs. Under the terms of the court adjudication, he is expected to be…
Oi creditors have approved a restructuring plan that will take the struggling telco out of bankruptcy protection. According to Bloomberg and as a result of a 15-hour meeting, the terms of the restructuring plan include a proposal for Oi to repay its biggest single creditor Anatel In five yearly instalments after a 20 year grace…
The liquidation hearing of Markus Jooste-owned Mayfair Speculators was postponed to next year, after Judge Siraj Desai ruled that the matter needs a full hearing, as it has far-reaching implications. Court papers suggest that Mayfair Speculators owe three banks more than R1.2 billion. Absa claims R226 million, whilst Investec and Sanlam are owed R250 million…
by Bhuma Shrivastava and Upmanyu Trivedi India’s new bankruptcy law is getting maximum traction from an unusual set of lenders, those with the least to gain from pushing companies into the insolvency process. Operational or unsecured creditors, who have dues that are not backed by any collateral, would be la st in queue to be…