(Bloomberg) — Indonesia’s apparel maker PT Pan Brothers avoided bankruptcy after it secured creditors’ approval to restructure 8.6 trillion rupiah ($537 million of debt). More than 90% of the creditors gave their nod on the company’s latest debt proposal, according to Khusaini, a judge at Indonesia’s Jakarta court, after a voting on Wednesday. “The result…
Heritage Park Estates Ltd liquidated during lodge eviction dispute Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope.
MGM has responded to the rumor about Bruno Mars owing millions in gambling debt. In a statement to ET on Monday, MGM Resorts International denied the performer is in debt with the hospitality empire amid a NewsNation story that alleged Mars owes up to $50 million in gambling debts. “We’re proud of our relationship with Bruno Mars, one of the…
Boutique restructuring consultancy Cathro & Partners has appointed Mark Cook as a director. Founded in 2021 by industry expert Simon Cathro, Cathro & Partners specialises in restructuring, turnaround, personal and corporate insolvency, safe harbour, secured enforcement, government advisory, and pre-lending services. The addition of Mark Cook bolsters the firm’s senior team – he brings around two…
Melbourne businessman Allen NgCredit: Source: clarkofthecourse.com Three judges of the Supreme Court – Justices Maree Kennedy, Cameron Macauley and Kevin Lyons – upheld the appeal. They classed the bets as “unauthorised gambling” because the form had not been signed nor registered with Racing Victoria. As a result, the $150,000 debt was wiped. Let’s bet A…
In a significant ruling, the National Company Law Appellate Tribunal (NCLAT) on Tuesday dismissed an appeal by former promoters of Spaze Towers. The promoters sought to confine the Corporate Insolvency Resolution Process (CIRP) to just one project, Spaze Arrow, instead of multiple ongoing projects. The initial directive for insolvency proceedings came from the National…
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Representative image NEW DELHI: Appellate tribunal NCLAT on Tuesday dismissed the plea filed by the former promoters of realty firm Spaze Towers to confine the Corporate Insolvency Resolution Process to only one project — Spaze Arrow. The National Company Law Tribunal (NCLT), on October 21, 2024, directed the initiation of insolvency proceedings against Spaze Towers,…
A COMPANY has warned there could be a rise in insolvencies in 2025. Antony Batty & Company, licensed insolvency practitioners, has predicted a rise in insolvencies across Bournemouth, Christchurch and Poole. This follows the recent budget’s substantial rise in employers’ national insurance and the minimum wage. Elaine Wilkins, director at Antony Batty’s Bournemouth office, said: “With many businesses…
Antony Batty & Company, licensed insolvency practitioners, has predicted a rise in insolvencies across Bournemouth, Christchurch and Poole. This follows the recent budget’s substantial rise in employers’ national insurance and the minimum wage. Elaine Wilkins, director at Antony Batty’s Bournemouth office, said: “With many businesses already suffering post-pandemic and from high inflation, the Government’s introduction of…