RIGA The British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to a letter written by British Steel at the disposal of LETA. A consortium that includes British companies British Steel and Greybull Capital and Estonian company Baltic Metal Holding in a letter dated…
A FORMER Noosa businessman who told a jury he “can’t even spell” has denied claims he was involved in the defrauding of a Hervey Bay company. Dimitrios Pagonidis gave evidence at his own trial at the Maroochydore District Court yesterday and told the jury he never owned the business, DNA Spray Booths and DNA Panel…
SolarWorld’s Hillsboro factory will survive and perhaps expand after its sale Wednesday to a rival company, SunPower. Though based in California, SunPower makes most of its solar panels overseas and it had lobbied unsuccessfully against new tariffs that SolarWorld sought on imported solar panels. With Wednesday’s deal, SunPower now has a domestic manufacturing source that…
Administrators for Beaufort Securities, the disgraced UK broker that was closed down by regulators in March, have said it could cost as much as £100m to return the cash and assets held by the company, currently valued at £550m, to its thousands of private investor clients. The administrative cost of carrying out insolvency proceedings for…
Kolkata: The National Company Law Tribunal’s (NCLT) Kolkata bench on Monday approved Vedanta Ltd’s resolution plan for the insolvent Electrosteel Steels Ltd, one of the 12 large corporate defaulters identified by the Reserve Bank of India. During the insolvency proceedings, the debt-laden company’s resolution professional, Dhaivat Anjaria, had submitted Vedanta’s resolution plan before the bench…
The National Company Law Tribunal’s (NCLT) Kolkata bench on Monday approved Vedanta Ltd’s resolution plan for the insolvent Electrosteel Steels Ltd. During the insolvency proceedings, the debt-laden company’s resolution professional had submitted Vedanta’s resolution plan before the bench for final disposal after lenders declared it as “successful resolution applicant”. …
Going into administration means there is no guarantee workers will receive their entitlements at all, or that suppliers will have their invoices paid. The employee, who asked not to be named, said the restaurant had about 35 casual staff and 13 full-time workers, including some who the company had sponsored on work visas. A spokeswoman…
The battleground for Binani Cement Ltd.s insolvency process has shifted back to the National Company Law Tribunal, Kolkata. Last week, Binani Industries Ltd. withdrew its petition seeking termination of the insolvency process for its debt-ridden cement unit that would have allowed an out-of-court settlement with UltraTech Cement Ltd. At the hearing before the Kolkata bench…
One of his flagship restaurants closed after falling into administration, and the Jamies Italian division closed outlets in a bid to stem heavy losses. The UK Jamies Italian business was a sea of red ink, and Oliver had begged landlords of his underperforming restaurants to cut rents in an attempt to stop the chain going…
Jamie Olivers dream of buying back the farm in Australia is over. The Jamie Oliver Restaurant Group (Australia) Pty Ltd collapsed on Monday, with the company being placed in the hands of voluntary administrators less than 12 months after the British celebrity chef visited Australia to relaunch the six local restaurants bearing his name. Oliver…