A top business restructuring expert, whose firm makes money from insolvency work, has called on Prime Minister Jacinda Ardern to announce a level 1 Covid-19 regime immediately to save “unjustifiable” business failures and job losses. KordaMentha partner and restructuring specialist Grant Graham in a social media post says New Zealand businesses cannot wait further weeks…
QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
Thai Airways will resort to the country’sBankruptcy Act to enter a sweeping “rehabilitation” plan following the government’s refusal to extend a bailout package to the trouble’s flag-carrier. In a statement issued to media, the Star Alliance member – whose domestic and international flights remaingrounded by the coronavirus pandemic said theThai Cabinet had approved a reform…
The car-rental industry has seen yet another bankruptcy. Advantage Rent A Car, previously owned by Hertz, filed for bankruptcy on Wednesday. The intertwined stories of Hertz and Advantage, featuring Canadian distressed-debt investors and pro-competition American regulators, reveal how dozens of blunders sank both firms into bankruptcy. Visit Business Insiders homepage for more stories. A former…
Londons Les Ambassadeurs Club casino is squaring off in court against yet another rich Saudi who doesnt want to pay their gambling marker. Last Friday, a High Court ruling lifted a freezing order placed on the UK assets of Sheikh Salah Hamdan Al Balawi, who runs technology and communication consortium SAB Ventures. The ruling had…
Saudi Sheikh who owns 45m London mansion is locked in fight with Mayfair casino over ‘2 million gambling debt’ Sheikh Salah Hamdan Al Balawi is accused of failing to settle his debt with theLes Ambassadeurs Club which featured in the Bond film Dr. No The Sheikh’s global assets were frozen in February but on Friday…
Introduction Domestic business Regulated business International business Introduction The government has restricted entry to the Cayman Islands since mid-March 2020 and is currently operating a curfew system day and night for residents other than essential workers, with the exception of exercise or essential trips such as to the supermarket or for medical reasons. The financial…
Australias largest producer of certified organic milk, Organic Dairy Farmers of Australia (ODFA), has entered voluntary administration. It is estimated it has more than $11.5 million in debts. The co-op is 100 per cent owned by 40 family farmers, supplying milk from three main dairy regions of Victoria, central and north-west Tasmania. It provides milk…
QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
In a claim describing Salim Mehajer as one of Australia’s most disliked people, a high-profile defence lawyer says a Sydney gossip column made out she sleeps with clients and unfairly exposed her to ridicule for her manner of dress and weight. The May 2019 article featuring a picture of Mr Mehajer and lawyer Zali Burrows…