Xue Guanglin, the founder of Brightoil Petroleum Holdingsand once a billionaire on the Forbes rich list, was declared bankrupt by Hong Kong High Court following a long-running case involving financial woes at his company. As Xue is a personal guarantor for about US$30 million debt owed by Brightoils Singapore subsidiary to Vietnamese national oil company…
Gazprom has begun buying natural gas from Turkmenistan after a three-year pause, under a 25-year contract signed in 2003 and suspended in 2016. Until 2010, Russias gas giant was the biggest buyer of Turkmen gas, Reuters recalls in its report on the story, adding that this was the year when Turkmenistan began exporting gas to…
FARMERS in Australia operate in a highly variable environment, and agriculture is considered the most volatile sector in the Australian economy. In fact, the volatility of the agricultural industry is nearly double that of any other industry in the country. With variability and volatility comes risk. Unfortunately, in life, there is rarely a reward without…
Grain Brokers Australia, April 16, 2019 FARMERS in Australia operate in a highly variable environment, and agriculture is considered the most volatile sector in the Australian economy. In fact, the volatility of the agricultural industry is nearly double that of any other industry in the country. With variability and volatility comes risk. Unfortunately, in life,…
FARMERS in Australia operate in a highly variable environment, and agriculture is considered the most volatile sector in the Australian economy. In fact, the volatility of the agricultural industry is nearly double that of any other industry in the country. With variability and volatility comes risk. Unfortunately, in life, there is rarely a reward without…
One of the most pressing concerns from Sizmeks bankruptcy comes from SSPs, which must reconsider how they think about risk and credit with their longtime partners. Brands and agencies often pay DSPs on 90-day or even 120-day cycles. But DSPs pay SSPs between 30 to 60 days. Theres a separate contract between…
Prominent Queensland-based co-working space and business incubator Little Tokyo Two has been placed into voluntary liquidation, with founder and entrepreneur Jock Fairweather sending a message to members and supporters saying the business had become unsustainable. Founded four years ago, Little Tokyo Two (LT2) had five locations across Brisbane and the Gold Coast, which primarily offered…
The Sissy-Boy chian was declared bankrupt by the court of Amsterdam on Friday. The company filed for deferment of payment earlier this month. At that time, the company had 45 of its own stores and 600 employees, NU.nl reports. The group made an attempt to become more profitable last year, by cutting costs and investing…
Corporate regulator ASIC has been appointing liquidators to abandoned companies in recent months to recover more than $400,000 in unpaid employee entitlements. Companies including NISS Technologies, Jovawill Pty Ltd, Ruschi Pty Ltd, Steel Project Services and the Surat Basin Group are now being investigated by liquidators at ASICs behest, amid concern about illegal phoenixing activity.…
The Australian Securities and Investments Commission has banned two execs of the now-defunct Uglii Group from running any company. Former Uglii Group directors Heather Knorr and Ge Zhu were disqualified by ASIC from managing corporations for four years for their roles in the insolvency of six companies within the group. Uglii Group, whose core business…