Second-in-charge This undated photo shows HNA Group co-chairman Wang Jian who fell to his death in France. Photo: HNA Group via AP Wang was second only to Co-Chairman Chen Feng within HNA’s hierarchy, and owned about 15 per cent of the conglomerate, making him one of the group’s biggest shareholders, according to HNA’s last update…
Looking back over 35 years of finance reporting there is one theme that stands out the propensity for Australians to get caught up in booms and busts. For some reason, we are suckers for financial products offering returns that are too good to be true. We are, more often than not, too scared to ask…
Second-in-charge Wang was second only to Co-Chairman Chen Feng within HNA’s hierarchy, and owned about 15 per cent of the conglomerate, making him one of the group’s biggest shareholders, according to HNA’s last update of its ownership structure. Chen also holds a 15 per cent stake. HNA said last year that its executives plan to…
Johnson Winter & Slattery (JWS) has elevated 12 senior lawyers as part of its latest promotions round. Five lawyers join the firms partnership, while the firm has also appointed a new special counsel and six new senior associates. JWS now lists 66 partners on its site. The new partners are Pravin Aathreya, Frances Dreyer, Andy…
Banks and other lenders are being urged to do more to help consumers in a debt trap thanks to mounting credit card bills. The financial watchdog ASIC says it expects card providers to identify people in difficulty after finding 18.5 per cent of cardholders were behind in repayments, could make only the minimum repayments or…
Insolvency regulator IBBI has come out with a model timeline for the corporate insolvency resolution process (CIRP). The timeline has been spelt out assuming that the interim resolution professional (IRP) is appointed on the date of commencement of the process and the time available is 180 days, the Insolvency and Bankruptcy Board of India (IBBI)…
The role of insolvency resolution professionals (IRPs) and their ability to handle day-to day affairs of bankrupt companies has come under the spotlight with the NCLT questioning their decisions in a few recent high-profile insolvency cases. At last count, there were over 1,800 registered IRPs wading through a pile of over 9,000 cases. Stakeholders are…
Johnson Winter & Slattery (JWS) has elevated 12 senior lawyers as part of its latest promotions round. Five lawyers join the firms partnership, while the firm has also appointed a new special counsel and six new senior associates. JWS now lists 66 partners on its site. The new partners are Pravin Aathreya, Frances Dreyer, Andy…
Clubs NSW, the peak body for the operators of about 95,000 poker machines across the state, pledges in its mission statement “to support the communities served by its 1,200 member clubs.” So it is reasonable to ask the lobby group to explain how Dee Why RSL, one of its larger members, was supporting its community…
KUALA LUMPUR: Perdana Petroleum Bhd (PPB) is expected to submit a plan to manage its debts within 60 days after getting help from Corporate Debt Restructuring Committee (CDRC) of Bank Negara to negotiate with its lenders. The company, in a filing with Bursa Malaysia today, said it had received the approval from CDRC on July…