Business EBay Inc shareholder Elliott Management Corp on Tuesday urged the e-commerce platform to restructure its business and sell some businesses to double its market value in the next two years. An eBay logo is projected onto white boxes in this illustration picture taken in Warsaw, January 21, 2014. REUTERS/Kacper Pempel/File Photo 22 Jan 2019…
Railrunner Europe has filed for insolvency in the bankruptcy court of Hamburg in Germany. The company cited multiple reasons for the financial distress and has appointed a preliminary insolvency administrator in the process. During the insolvency proceedings, RailRunner Europe intends to reorganise and restructure the company. Since July 2017, the company managed daily flow between…
The National Company Law Appellate Tribunal (NCLAT) on Tuesday came down hard on companies such as Liberty House Group, which successfully bid for debt-ridden firms under the corporate insolvency resolution process but later withdrew from it citing one reason or the other. “We would decide what action should be taken against such…
A charity organisation has revealed that Walsall gamblers are worried about generating massive debts while playing on fixed-odds betting machines (FOBTs). The licensing committee of Walsall Council has a scheduled meeting for January 23rd, at which it is expected to give the green light to a revised statement of principles related to the Gambling…
There has been continued strong growth in personal insolvency arrangements, up 31% in 2018 compared to the previous year. Personal insolvency arrangements are designed to return debtors to solvency while keeping them in their home in over 95% of cases. According to the latest statistical report by Insolvency Service of Ireland, the number of arrangements…
From the onset of the Insolvency and Bankruptcy Code, there has been evolving jurisprudence on the position of guarantors, in the event of a default where a guarantee has been provided. Moratorium Against Guarantors In the initial period of implementation of the IBC, there was a huge debate as to whether guarantors would be entitled…
Flow Systems that gave Sydney a host of innovative and sustainable water and energy solutions is in voluntary administration. Christopher Hill andPhilCarter of PwC Australia were appointed joint administrators of Flow Systems Pty Ltd and related entities on 20 December 2018 after a sale process initiated by majority shareholder Brookfield failed to find new owners.…
[embedded content] Uncorkd Entertainment is proud to announce the North American theatrical and digital release of the acclaimed Australian crime-dramaWest of Sunshine. A captivating social-realist story from debut feature filmmaker Jason Raftopoulos, the celebrated film hot from an outstanding response, complete with standing ovation, at the Venice Film Festival tells of a father who has…
SOUTH AFRICA is working on extending a short term credit facility in the region of $7 million to Zimbabwe to help write off Harares external arrears. BY BUSINESS REPORTER South Africa Finance minister Tito Mboweni According to a report carried by the Daily Maverick, South Africa Finance minister Tito Mboweni and his Zimbabwean counterpart Mthuli…
Dentsu Aegis Network is restructuring its media and performance business in Singapore. Moving forward there will be two verticals that will host Carat, Vizeum, Dentsu X and iProspect. These will be the Brand Solutions business and One Singapore Media Group, also incorporating Amplifi. Meanwhile, a DAN Client Solutions virtual team will sit across all brands…