DOZENS of local businesses have been left reeling after Mandurah building company Cole Building Pty Ltd went into liquidation last month. Trading as Colista Homes and Colista Constructions, the company went into liquidation on January 31. Steven Kugal from the Insolvency Experts was appointed as the liquidator. More than 50 businesses are on the creditors…
THE future of one of Australias top prestige property agencies is in doubt, with an insolvency firm stepping in to manage the business while it is investigated by the trading watchdog. McGrath Nicol has been appointed joint manager of Unique Estates by the NSW Department of Fair Trading. GET THE LATEST REAL ESTATE NEWS DIRECT…
20 Feb 7:07 PM Israeli gas fields in the Mediterranean will soon be providing gas exports to Egypt as a part of a 10-year, $15 billion deal announced on Monday. According to the PNN, Israeli gas excavation companies Delek Drilling and Noble Energy will export roughly seven-billion cubic-meters of gas annually from drilling platforms in…
The argument is simple. State-owned banks, and therefore the State itself, intend to sacrifice ordinary people (aka honest, but defaulting borrowers) by abandoning them to unregulated vulture funds who will gouge them for super profits. This must, in the name of all that is decent and civilised, be stopped. Lets look at the facts. Permanent…
Binani Industries, the promoters of Binani Cement, has put a question mark on the insolvency process of the cement company by valuing it at Rs 173 billion (including mining rights of Rs 117 billion) against the bids of around Rs 63 billion received from Dalmia Bharat and Ultratech Cement. In a filing at the…
Banks would be under less pressure to sell large portfolios of bad mortgages had they dealt with distressed borrowers earlier, the head of the States personal insolvency service has said. Lorcan OConnor, director of the Insolvency Service of Ireland, said banks should have tried to resolve more of their non-performing loans through personal insolvency legislation…
Tribunal justice system is now a recognised trend globally, but India’s experiment with this has nothing to boast about. Given diverse judicial functions it performs, the National Company Law Tribunal (NCLT) is burdened with the workload of enormous magnitude and, in the process, it might lose focus on revival and rehabilitation of sick entities. In…
Advisers evaluating the offers for Essar Steel India Ltd. are recommending that both bids for the insolvent company be disqualified, according to people with knowledge of the matter. Legal and accounting advisers expressed concerns to the interim resolution professional, which is overseeing the Essar Steel sale process, about the eligibility of ArcelorMittals offer as well as a separate…
Nathan Schmidt / Bethlehem Israeli gas fields in the Mediterranean will soon be providing gas exports to Egypt as a part of a 10-year, $15 billion deal announced on Monday. Israeli gas excavation companies Delek Drilling and Noble Energy will export roughly seven-billion cubic-meters of gas annually from drilling platforms in the Mediterranean, namely the…
Turnaround of a large steel company of Tata Steel’s size is a tough job to do in a year’s time. But still, N Chandrasekaran’s one year at the helm of Tata group – on February 21, he completes one year of his chairmanship – has changed the fate of the steel maker quite dramatically. The…