Image copyright British Steel Talks to avert the collapse of British Steel will resume later on Friday after the firm secured funds to stay afloat until the end of May. Sources close to owners Greybull Capital say its future will be discussed at “ministerial level”. British Steel has admitted it needs further financial support from…
A Sydney woman battling mental health issues has told how she is surviving off the charity of friends and family after an apparent Centrelink bungle left her with a $3,500 welfare debt and no income for more than two months. Charlotte Coulter, 29, told Guardian Australia she was wrongly kicked off the $276.55-a-week Austudy payment…
THE exodus of grain traders has continued, with Queensland company Dalgrains (Qld) Pty Ltd being wound up by its owners. Dalgrains is owned by Tobin and Stephanie Cherry, of Dalby, in Queensland. The company has 120 shares, 40 of which are owned by Mr Cherry and the other 80 by the Cherrys investment company Cherry…
Melbourne-based contract brewing operation Sample Brewing is being offered for sale after the business called in administrators on Tuesday. Administration of the brewing business, which launched in 2014, was taken over by Shane Cremin of insolvency firm Rodgers Reid on Tuesday. Cremin told Brews News that the business continues to trade with plans to offer…
A Federal agency has put a Pilbara Aboriginal corporation that earns millions of dollars a year in mining royalties from Rio Tinto in the hands of insolvency experts over governance and financial issues. The Registrar of Indigenous Corporations yesterday placed Yinhawangka Aboriginal Corporation, based in Paraburdoo, into special administration. The news comes less than a…
The details and effects of the plan, which is in negotiation as part of a Chapter 11 bankruptcy, were explored in a Raymond James report. In a May 12 research note, Raymond James analyst Praveen Narra reported that as part of its Chapter 11 bankruptcy, Weatherford International Ltd. (WFT:NYSE) entered negotiations to restructure its outstanding…
Whats more valuable getting out of debt or getting away? Soon more workers will have the opportunity to make that calculation. PTO Exchange, a platform that allows employers to give workers the ability to put the monetary value of their vacation days towards retirement savings, charitable donations and other goods and services, is expanding its…
What remains of Harvey Weinsteins former film studio will be liquidated in bankruptcy court, the company said, as lawyers try to resolve civil litigation against its ex-officers and directors arising out of Mr. Weinsteins alleged sexual abuse. Lawyers representing Weinstein Co. said they want to convert the companys bankruptcy to a chapter 7 liquidation, according…
The bag manufacturer Bree has requested the local court of Hamburg for the opening of insolvency proceedings in self-administration. Despite intensive efforts and a complete restructuring was not managed, the business is in the black due, it is said in a message of the company. Bree had moved in the past year, the companys headquarters…
Maiyas Beverages and Foods Pvt. Ltd. has embarked upon a comprehensive restructuring exercise in order to recoup the market share it had lost in the countrys ready-to-eat, ready-to-drink, curry spices and pickles markets. The companys business restructuring plan comes two days after the Bengaluru bench of the National Company Law Tribunal (NCLT) quashed MTR Foods…