July 21 (Reuters) – Shares of energy services firm Baker Hughes slipped on Wednesday after reporting second quarter results that fell short of Wall Street estimates as it shifts its business to technology and services that help customers transition to a lower carbon world. Baker Hughes Co (BKR.N) swung to a profit from a loss…
A major Telstra and Foxtel contractor has gone into voluntary administration, while facing a $400 million class action from Shine Lawyers. The class action against Tandem Corporation, formerly known as Infrastructure Services Group Management (ISGM), filed in November, 2018, was the largest employment-related class action in the country. The case was due to go to…
Thursday, 22 July 2021, 11:32 amPress Release: BWA Insolvency The economic effects of the COVID-19 pandemic have seen an increase in demand for insolvency services. We believe this demand will only increase over the next few years. While New Zealand hasnt seen the anticipated business failure that was predicted in early 2020, this is largely…
Two former bankrupt brothers convicted of appalling animal cruelty face having their aged care accreditation revoked over the failure of their aged care business in Victoria to return deposits to families of former residents. The Aged Care Quality and Safety Commission has ordered Chronos Care, which owns aged care homes in Alphington, 7km north-east of…
Seeking to enhance transparency in the insolvency process, the Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations. The IBBI said in a release on Wednesday that the amendments were aimed at enhancing the discipline, transparency, and accountability in corporate insolvency…
Member Article Corporate insolvencies increased by 19% to 1,207 in June 2021 compared to Mays figure of 1,014, and rose 62.9% compared to June 2020s figure of 741. Personal insolvencies rose by 15.8% to 9,836 in June 2021 compared to Mays figure of 8,497, and were 18.8% higher than June 2020s figure of 8,282. Eleanor…
Lenders to Venugopal Dhoot-founded Videocon Group will eventually take 50-55 per cent haircut and not 95 per cent as is being reported after considering about Rs 15,000 crore expected from the sale of the group’s overseas oil and gas assets, its former CFO Rajneesh Gupta claimed. Videocon Industries Ltd, which is comprised of its consumer…
A landmark personal bankruptcy ruling by a court in the southern Chinese city of Shenzhen could pave the way for the nationwide rollout of a legal system that would allow individuals and private businesspeople who can’t repay their loans to undergo debt workouts or be declared bankrupt. The Shenzhen Intermediate People’s Court approved a bankruptcy…
21 July 2021 Consultancy.com.au 2 min. read Global advisory firm FTI Consulting has bolstered its national restructuring team with the hire of four senior managing directors all of which previously were partners at a Big Four firm. For some time now, FTI Consulting has been the dominant restructuring firm globally, and we have had the…
As foreshadowed in its NSX announcement dated 11 June 2021, the Board of a2a GN Limited (NSX:A2A) has engaged with advisors in Australia and Malaysia to urgently review alternate funding and restructuring options. Whilst reviewing various proposals, the Board prudently moved to temporarily suspend business operations. Following diligent consideration of the options available and acting…