Joint administrators were formally appointed by the Court today, Wednesday the 25th of January 2017 As insolvency agents, it is their task to try to sell the assets and goodwill of the business for the benefit of the creditors of the company. Should any parties be interested in purchasing the intellectual property rights of the…
Proceedings are set to be opened at the district court of Montabaur after the application was filed on 21 January 2017. With some 70 employees, FWT energy has been manufacturing and selling 2MW, 2.5MW and 3 MW onshore wind turbines since 2013. Recent business included supply to a 51MW project in Kalmykia, southern…
Acting chief executive of Bus Éireann Ray Hernan has told the Oireachtas transport committee that drastic and decisive action is needed to resolve the financial crisis at the company. Mr Hernan said that to do nothing would result in the company, not just Expressway, going out of business. He said there was an “immediate risk of…
KUALA LUMPUR, Jan 24 A subsidiary of the Federal Land Development Authority (Felda), which is now bankrupt, lost RM155 million in just over two years of operations, Opposition lawmaker Rafizi Ramli alleged today. The PKR MP for Pandan said Felda Wellness Corporation (FWC) was declared bankrupt by a Malaysian court last year over unpaid debts…
One of states biggest residential construction firms, Builton, has succumbed to the financial stresses engulfing the sector, appointing external administrators earlier today after reports of the companys financial troubles emerged last week. Cor Cordis partners Dino Travaglini and Jeremy Nipps were named as administrators to Builton‘s parent Builtoncorp Pty Ltd, as well as four other…
Mumbai: The central bank is working on setting up a financial sector resolution corporation, said N.S. Vishwanathan, deputy governor, Reserve Bank of India (RBI). We have discussed with the government the shape this corporation will take. Its purpose is to not only provide insurance to financial companies but also to provide resolution, Vishwanathan said at…
November 1858. The Austro-Hungarian Imperial Navy frigate SMS Novara visits Sydney as part of a two-year, round-the-world scientific expedition intended to advance science while promoting Austro-Hungarian prestige. On board was the Austrian economist and ethnologist Karl Scherzer. During the ships brief stay, Scherzer made the acquaintance of Wilhelm Kirchner, being entertained at the Kirchner home…
Over the last several years,more than 80 banks in Ukraine have been declared insolvent. Business entities and private citizens havelost billions of hryvnias that was on their current accounts. Weve got used to the news of another bank turning into an empty can, from which all funds have been washed out, leaving zero chances for…
Featured Articles In an endorsement of the Justice R.M. Lodha Committee’s work to usher in transparency within BCCI officialdom, leading sportspersons joined hands to ask the Supreme Court to implement the apex court-appointed Lodha panel’s sweeping reforms for BCCI on other sporting federations across the spectrum. A Bench led by Chief Justice of India J.S.…
Student loan repayments could rise in this year’s federal budget. Glenn Hunt Universities have backed moves to consider key changes to the HECS-HELP student loan scheme, giving cover to Education Minister Simon Birmingham to increase costs to students in his higher education reform announcement expected in coming months. The universities’ peak lobby group, Universities Australia,…