Andy Park: Treasurer Jim Chalmers has signed off on a major international airlines bid to buy a significant stake in Virgin Australia. Qatar Airways will now own a quarter of the Australian airline, allowing Virgin to resume international flights to major tourism destinations, cancelled after the troubled airline went into voluntary administration. Aviation experts say…
In a bid to equip Ghanaian businesses with essential legal knowledge for navigating corporate growth and financial uncertainty, the book Companies, Corporate Insolvency and Restructuring in Ghana: The Law and Practice (Volume 1) has been officially launched. Authored by Ace Anan Akomah et al., the book—also known as the Blue Book—serves as a comprehensive guide for businesses, legal…
The Social Security Administration is offering financial incentives ranging from $15,000 to $25,000 to employees who choose to voluntarily resign from the federal agency, ahead of what they warn will be “significant workforce reductions.” A message sent out to employees Thursday stated that the agency will soon implement restructuring that includes workforce cuts and “massive…
The company operating the controversial landfill site Walleys Quarry in Newcastle-under-Lyme has entered liquidation, The Environment Agency (EA) has confirmed. The landfill site in Silverdale has been closed to new waste since November and residents in the area have been fighting a years-long campaign to have the site shut due to foul smells. The site…
Smith and Reed recruitment in Truro goes into liquidation MSN Read the original article here
(Bloomberg) — Creditors to Petrofac Ltd are opposing its debt restructuring, a proposal the oil services firm says it needs to prevent its collapse into liquidation. Saipem Spa and Samsung E&A Co Ltd argue that they are the primary targets of the prospective restructuring, given they are “very substantial actual and contingent creditors” of Petrofac…
Shares of Adani Power Ltd surged during the trading session on Tuesday after a resolution plan submitted by the Adani Group firm was approved by the committee of creditors of Vidarbha Industries Power (VIPL), which is undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) 2016. On the back of heavy trading…
The pre-reorganisation system serves as a transitional mechanism between out-of-court restructuring and formal bankruptcy reorganisation. It is being increasingly applied to help courts more accurately assess a company’s reorganisation value, facilitate preparatory arrangements for proceedings, and ultimately improve the efficiency and success rate of corporate rescue. The origins The pre-reorganisation system originated in US judicial…
Walleys Quarry operator enters liquidation ENDS Report Read the original article here
The George Hotel and Beach Club, Yarmouth’s future in doubt Boutique Hotelier Read the original article here