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…
Dealing with distressed companies has given KPMGs next WA boss an extra filter as he chases growth in the States rejuvenated professional services market. You see risk in a different way, Matthew Woods said of his insolvency work as the Perth-based national boss of restructuring services for KPMG. If we are to achieve the strong…
Tuesday, January 22, 2019 In the December quarter 2018, bankruptcies fell to their lowest level since March 1995, according to the latest personal insolvency statistics released by the Australian Financial Security Authority (AFSA). There were 3,788 bankruptcies in the December quarter of 2018, a 6% fall compared to the December quarter of 2017. This fall…
A new poll says the number of Canadians who are $200 or less away from financial insolvency at month-end has jumped to 46 per cent, up from 40 per cent in the previous quarter, as interest rates rise. A survey conducted for insolvency firm MNP Ltd. in December also found that 31 per cent of…
Falcon Tyres, previously owned by Ruia Group, may end up liquidated after failing to attract any bidders for takeover of the stressed assets. The company is currently undergoing insolvency resolution process in the Bengaluru Bench of the National Company Law Tribunal (NCLT). In case of liquidation, lenders are seen taking at least a 52…
Soon after the SBI put on sale its loan exposure in bankrupt Essar Steel, the government on Monday held a meeting to review the progress in the 12 biggest default cases and urged the bankers to take up issues of delay with the higher authorities. “Bankers have been suggested to take up issues related…
GERMANY: RailRunner Europe GmbH has filed for insolvency, with the bankruptcy court of Hamburg appointing Dr Susanne Riedemann of specialist law firm Prof Dr Pannen Rechtsanwlte as preliminary insolvency administrator on January 18. The RailRunner Europe management said they intend to reorganise and restructure the company. The European subsidiary of US holding company RailRunner…
Hundreds of UK travel agents and tour operators could go out of business within three years, accordingto research commissioned by Radio 4s consumer programme, You and Yours. The BBC programme asked the insolvency firm Opus Restructuring to analyse Company Watch data on the finances of almost 4,000 travel firms. … Read the full article at:…
With the reference to our earlier intimation notice dated 18th January, 2019 for 14th meeting of the Committee of Creditors (COC) which was scheduled to be held on 22nd January, 2019 at 03:00 pm, we hereby inform you that the same meeting has been rescheduled on Tuesday, 22nd January, 2019 at 10:45 am at the…