QUEENSLAND companies are collapsing by the dozen as the nation’s businesses head towards an economic cliff when COVID-19 support ends. In the final month of the financial year, 63 Queensland companies collapsed into liquidation or administration. The numbers remain below the average monthly collapses, which hovered around 100 per month prior to COVID-19. Liquidator Brendan…
Jul 02 2020, 10:15 PMJul 02 2020, 10:15 PMJuly 02 2020, 10:15 PMJuly 02 2020, 10:15 PM Auto components major Motherson Sumi Systems Ltd. on Thursday announced a group restructuring under which it will demerge its domestic wiring harness business into a new company that will eventually be listed. The reorganisation has been approved by…
SAN JOSE, Calif., June 23, 2020 /PRNewswire/ –Of late, it seems that several debt consolidation advertisements surface just about every time I log on promising substantial savings if I consolidate all my debt onto a single loan. With the amount of debt in America staggeringly high, it’s not surprising that many people may consider this…
MACKAY businesses have been left more than $20,000 out of pocket after the collapse of a civil and mine site contracting construction company. Busby Contracting’s liquidation is set to be wound up by the end of this year, with its debts blown out to almost $5 million. The company, which went into voluntary liquidation in…
QUEENSLAND companies are collapsing by the dozen as the nation’s businesses head towards an economic cliff when COVID-19 support ends. In the final month of the financial year, 63 Queensland companies collapsed into liquidation or administration. The numbers remain below the average monthly collapses, which hovered around 100 per month prior to COVID-19. Liquidator Brendan…
The deal was unanimously approved by secured lenders and reduces Suzlon’s term debt substantially.It also replaces the balance of debt it owes to its lenders with debt securities and shares Suzlons CFO Swapnil Jain said: This debt restructuring will ease the pressure on our cash flows significantly and give us headroom for ramping up business…
Photograph by Bayete Ross Smith/EHRP and The Guardian Every day at 7pm, New Yorkers have cheered, applauded and banged pots and pans for frontline workers. One of those they have cheered for is Shana-Kay Henry, a physician assistant in the city, who, like thousands of others, is praised as a hero for her brave caretaking…
THE FOUR-LANE, 62-km toll road being built between Masiaka, a business hub in Sierra Leone, and Freetown, the countrys capital, promises shorter journey times, fewer accidents and smoother drives. It is nonetheless controversial. Awarded to China Railway Seventh Group, the project added over $160m to the countrys foreign debt, according to the China-Africa Research Initiative…
TheRoyal Albert Hall will go bust by March next year if it doesnt receive urgent financial support, the iconic venues chief executive has warned. The West London venue, which was the busiest live music venue in the world last year, has lost 12m after closing its doors for more than 100 days due to coronavirus.…
In order to survive, companies and lenders alike will have to weather the storm, demonstrate a level of a… The financial impact of COVID-19 will depend on how long it lasts and the depth of the fall in output. The main cost of COVID-19 will no doubt be unemployment occasioned by the inevitable financial distress…