Tegeta Exploration and Resources has applied to the Gauteng High Court for the liquidation of its sister company, Oakbay Investments, claiming it owes it R3.8 million in rental and services arrears. Tegeta business rescue practitioner Kurt Knoop says in an affidavit that Oakbay is unable to pay its debts and is therefore liable to be…
DETROIT (Reuters) – Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year as a result, part of a global restructuring meant to end losses in different regions. As part of a broader restructuring that Ford previously said would…
CDA is pleased to announce CommonBond as a CDA Endorsed Program that offers competitive student loan refinancing as a new member benefit. Student loan debt is one of the largest financial hurdles a dentist may face. The average educational debt for all indebted graduates in the class of 2018 for U.S. public and private dental…
Kerio Valley Development Authority (KVDA) MD David Kimosop (in a white shirt) on a tour at Kipsaiya in Marakwet West where Arror multi-purpose dam will be constructed. [Fred Kibor/Standard] Treasury Cabinet Secretary Henry Rotich is the latest top-ranking official to be questioned over stalled Sh65 billion dam projects in the country. Mr Rotich recorded a…
Flybmi operated 17 regional jet aircraft on routes to 25 European cities. The airline carried 522,000 passengers on 29,000 flights in 2018. The majority of Flybmis 376 employees across the UK, Germany, Sweden and Belgium have been made redundant, although some have been retained to assist the joint administrators. A spokesperson for Flybmi said: The…
There can be many twists and turns over the life of a business, but one of the more serious (and usually final) turns is when it declares insolvency. A recent spate of high profile collapses, most notably music retailer HMV, cake chain Patisserie Valerie, and department store House of Fraser, have all brought…
Lavan has boosted it ranks with the appointment of two new partners in Perth. The firm has appointed Krista Bates as a corporate partner and Lawrence Lee as a restructuring and insolvency partner. Bates is an expert adviser on M&A, disposals, joint ventures, private-equity transactions, schemes of arrangements, corporate governance issues, commercial contracts, and general…
With reference to the subject cited above, I would like to inform you that the following matters are the outcome of the 4th Committee of Creditors Meeting of M/s. Southern Online Bio Technologies Limited held on 19th February, 2019.1. Discussed on the 3rd CoC meeting minutes and approved by the members of the CoC2. ……3.…
The end is officially near for Payless ShoeSource. Payless late on Monday filed for voluntary Chapter 11 bankruptcy protection. In the filing, the company said that it has approximately $470 million in outstanding debt it cant service. The company has already shut down online sales and plans to close its 2,500 North American stores beginning…
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best today announced that Roger Sellek will step down as CEO of AM Bests EMEA and AP regions effective 31 March 2019. Dr. Sellek joined AM Best in 2007. During his tenure at AM Best Dr. Sellek successfully led the expansion of AM Bests global business including the establishment of offices in…