Spiique co-founder David Hewish said the group was concerned all the value in Virgin – and the upside from a future recovery – would be handed over to its new investors. Our suggestion was to do something to create an alternative – to fix the business plan with the support of the stakeholders and then…
Roughly one in three Americans have delinquent debt according to recent data fromTheUrban Institute. At 16%, medical debt makes up the highest percentage of debt delinquency, but consumers also default on student loans, auto loans and credit card debt. If someone’s debt is so large that making payments becomes unmanageable (or if paying off the…
Peak body Equestrian Australia has been placed in voluntary administration by its board in a bid to avoid insolvency. In what has been described as a “difficult decision, Equestrian Australia says the move follows the withdrawal of funding by Sports Australia – reportedly due to due to poor governance – and the impact of COVID-19…
Justine Channing, a gaming industry specialist with 25 years experience, said clubs and hotels in both city and regional areas had positive results, on average. “I suspect we’ve got a honeymoon, as people who enjoy gambling want to get out there and have a go,” Ms Channing said. While big clubs might still be struggling…
Dufry is making sweeping changes to its business in a bid to accelerate growth and support profitability during the recovery phase of the economic crisis and beyond, it announced today. The changes, in place from 1 September, include: the integration of its headquarters and divisions, as well as rationalising its country groupings from 23 down…
Carillion announced its first profit warning on 10 July 2017. At the time, I was scheme secretary to a board of 16 trustee directors and a company-appointed trustee of a trust-based defined contribution (DC) plan. Although it would be a further six months before the company was placed in liquidation, it was at this point…
June 10 (Reuters) – Moreton Resources Ltd: * CO & UNITS HAVE ENTERED VOLUNTARY ADMINISTRATION * APPOINTED GRANT SPARKS AND DAVID ORR OF DELOITTE FINANCIAL ADVISORY PTY LTD AS ADMINISTRATORS OF GROUP * ADMINISTRATORS TO UNDERTAKE URGENT ASSESSMENT OF GROUPS BUSINESS & FINANCIAL POSITION TO DETERMINE FUTURE OF BUSINESS & ASSETS Source text for Eikon:…
The Chinese solar panel making division of the debt-saddled company appears likely to be broken up after admitting creditors will take controlling stakes in its business units following the successful petition of a court in Hebei province. June 10, 2020 Max Hall The company says employees will not be affected by the restructure. Image: Yingli…
In AnAn (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2020] SGCA 33, the Singapore Court of Appeal (the Singapore Court) recently grappled withan issue of paramount importance where a creditor seeks to recover a debt arising under a contract containing a clause which provided that disputes would be determined through arbitration (arbitration…
June 10 (Reuters) – Moreton Resources Ltd: * CO & UNITS HAVE ENTERED VOLUNTARY ADMINISTRATION * APPOINTED GRANT SPARKS AND DAVID ORR OF DELOITTE FINANCIAL ADVISORY PTY LTD AS ADMINISTRATORS OF GROUP * ADMINISTRATORS TO UNDERTAKE URGENT ASSESSMENT OF GROUPS BUSINESS & FINANCIAL POSITION TO DETERMINE FUTURE OF BUSINESS & ASSETS Source text for Eikon:…