Eastern Guruma country, in the Pilbara; Photo: Glen Camille. Pilbara-based Eastern Guruma contracting company, which has multi-million dollar projects with some of the biggest names in mining, is expected to face a significant restructure after being placed in voluntary administration with unspecified debts. A team of administrators was this week poring over the books of…
LAST QUARTER | 38 declare bankruptcy, enter debt in rough quarter IN A sad revelation for how much people are struggling in the Gladstone region, there were 59 bankruptcies in the region over the past four months. The startling numbers come from the Australian Financial Security Authority’s regional personal insolvency statistics report for the September…
By Vanessa Cavasinni, editor Australian Hotelier The site of the demolished Greyhound Hotel in St Kilda has been sold to a prominent local developer and will be turned into apartments. Advertisement Property developer Nicholas Smedley has purchased the site for $7.5 million from owners Chris and Will van der Linden, and Karina Harcourt. The trio…
Stretching from one end of the table to the other, these are just some of the dozens of useless remedies that one poor chap has been bamboozled into buying. The 88-year-old grandfather has been preyed on by peddlars of junk supplements for over a year, conning him into buying multiple orders of the same products.…
Sunderland are skint off the pitch, bust on it, and have brought in bankrupt Billy McKinlay to help save them. David Moyes former assistant took training alongside Robbie Stockdale after the sacking of Simon Grayson. McKinlay, 48, is rebuilding Sunderlands moribund squad this week, and his own finances. In September he was made declared bankrupt…
The High Court has approved a personal insolvency arrangement for a Waterford couple, blocking an attempt by the investment fund which acquired their mortgage to repossess the family home. Shoreline Residential, an affiliate of vulture fund Lone Star, had vetoed an insolvency arrangement presented at a creditors’ meeting and was seeking to repossess the couple’s…
SolarWorld hailed tariff recommendations issued Tuesday by federal trade commissioners, even though the proposed tariffs are less than half what another solar manufacturer had sought. “We are pleased that a bipartisan majority of the Commission has recommended tariffs, tariff-rate quotas and funding for the domestic industry,” SolarWorld chief executive Juergen Stein said in a written…
EasyJet has confirmed a 40m (£35m) deal with Air Berlin to buy part of the insolvent German airline’s operations, in a move that will secure 1,000 jobs. EasyJet will buy some of the company’s assets at Berlin Tegel Airport, including landing slots as well as leases for up to 25 A320 aircraft. The UK airline…
U.S. stock benchmarks added to modest losses Monday afternoon after a report indicated that the House of Representatives is considering phasing in a cut to corporate taxes rather than enacting them immediately. Investors were awaiting a batch of key events later in the week, including a Federal Reserve meeting, the announcement of…
As the emotional final flight of the bankrupt airline, Air Berlin, was taking place on Friday, easyJet was sealing a deal that will transform its status in Germany. The UKs biggest budget airline is paying 40m (£35m) for slots at the German capitals leading airport, Tegel, as well as operating leases on up to 25…