By Stephanie Kelly NEW YORK (Reuters) – Puerto Rico rejected on Thursday a $1 billion loan offer from creditors of the island’s bankrupt power utility, calling the proposal “not viable” and saying it would hamper the utility’s ability to recover. The Puerto Rico Electric Power Authority’s bondholder group on Wednesday offered the utility a new…
Robert Jackman outside the Albany Justice Complex.Picture: Laurie Benson/Albany Advertiser The former director of the collapsed Rare Coin Company declared he was bankrupt as he faced charges that he stole more than $1.8 million from investors before the company collapsed four years ago. Robert Colin Jackman appeared in the Albany Magistrates Court yesterday on 36…
The Ten Networks recent experience of voluntary administration and subsequent rescue by CBS demonstrates how insolvency law works for large Australian companies. But 97% of Australian businesses are small or medium size enterprises (SMEs), and they face a system that isnt designed for them. 60% of small businesses cease trading within the first three years…
Mumbai, September 28: State-owned Indian Overseas Bank has sold its bad debt exposure of 1,500 crore in Essar Steel to Edelweiss Asset Reconstruction Company at a 50 per cent discount to its book value, said sources close to the development. The deal comes even as the National Company Law Tribunal declared Essar Steel insolvent and…
Man of many names, debts, tries to open Far South Coast real estate agencies NEW MOVE: Dene Broadbelt during his time as a country radio presenter. Under the name Luke Hemmings, he has tried to open real estate agencies on the Far South Coast. The ASIC listing in mid-September, 2017, showed the ABN for the…
UPDATE: Former One Nation senator Rod Culleton has apologised to a Perth magistrate after an angry outburst saw him escorted from a courtroom during his stealing trial today. Mr Culleton allegedly surrounded a $27,000 hire car with hay bales in March 2015, forcing bank-appointed receivers to leave it at Bruce Dixons Cuballing farm where they…
UPDATE: FORMER One Nation senator Rod Culleton has apologised to a Perth magistrate after an angry outburst saw him escorted from a courtroom by police during his stealing trial today. Mr Culleton allegedly surrounded a $27,000 car hired by bank-appointed receivers with hay bales in March 2015, forcing them to leave it at Bruce Dixons Cuballing…
Former Rare Coin Company director Rob Jackman attends court today. Picture: Laurie Benson Albany AdvertiserPicture: Albany Advertiser The former director of the collapsed Rare Coin Company has declared he is bankrupt when facing charges he allegedly stole $1.8 million from investors before his company collapsed four years ago. Robert Colin Jackman made brief appearance in…
Ryanair will not go ahead with a planned bid for troubled Italian flag carrier Alitalia as it continues to grapple with problems that have forced it to cancel flights through the winter. The airlines shares surged 3.87 per cent to 17.06 on Wednesday, adding 600 million to its value, despite news that it planned to…
NEW YORK (Reuters) – Creditors of Puerto Ricos bankrupt power utility said on Wednesday that they had offered the utility a new $1 billion loan and a discount on a portion of the existing debt to help recovery efforts after Hurricane Maria devastated the island last week. The commitment would reduce the Puerto Rico Electric…