Bloomberg reported on Thursday that Toys “R” Us is making preparations for a liquidation of its bankrupt U.S. operations. The company has struggled to find a buyer or reach a debt-restructuring deal with lenders, leaving it with few options. It has insisted its Australian operations will not be affected by the insolvency. Claire’s Stores Inc.,…
By Rupert Rowling March 10, 2018, 7:01 PM EST British lawmakers released documents that show law firms and consultants got millions of pounds from Carillion Plc, a day before the failing companys chairman asked for an emergency government loan in a letter that one committee head called a ransom note. Carillions board requested 10 million…
Letter to the editor WITH 1190 SCHOOL SUSPENSIONS PER YEAR, IT IS BLEEDINGLY OBVIOUS THE SYSTEM NO LONGER WORKS IT WAS with a great degree of sadness and concern I read the headline story in The Gympie Times (Saturday, March 3) . YOUR SAY: Suspensions catch bullying victims in crossfire Sad for the lost opportunity…
Lenders, reeling under the pressure of recovering dues from insolvent companies, have run into another wall. The National Company Law Appellate Tribunal has ruled that lenders cannot invoke guarantees given by promoters while the borrower is facing insolvency proceedings. State Bank of India was amongst the many lenders that initiated proceedings against guarantors to recover…
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
Firm Appointee/Solicitor Role Company Name Published Date Veritas Advisory Steve Naidenov administrator BOS Global Holdings Limited 7/03/2018 Hall Chadwick Richard Albarran liquidator Choiceliving (WA) Pty Ltd trading as Choice Living Homes 7/03/2018 Hall Chadwick Cameron Shaw liquidator Rocharde Industries Pty Ltd 7/03/2018 Hall Chadwick Cameron Shaw liquidator P&E Securities Pty Ltd 7/03/2018 Hall Chadwick Cameron…
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
Shares of GTL Infrastructure slumped as much as 20 per cent in morning trade today after it said the impact of Aircel’s insolvency will be materially adverse for the company. Shares of the company plunged 19.85 per cent to a low of Rs 3.11 on the BSE. On the NSE, the…
Melanie Gerlis March 9, 2018 Potential shenanigans involving art in the spotlight once again. London art dealer Matthew Green is among the defendants in the case against Beaufort Securities, three other corporations and five other individuals, accused by the US Department of Justice of a multiyear $50m-plus securities fraud and scheme to launder money, partly…