Cash-strapped state-owned airline SA Express is facing an application for liquidation because it cannot pay its debts. The application has been brought in the Gauteng High Court by aircraft leasing company Solenta Aviation on the basis of the nonpayment of R87.3m and would be heard on August 11, if it is not opposed. But SA…
NEW YORK–(BUSINESS WIRE)–Gleacher & Company, Inc. (OTC Pink: GLCH) (the Company) announced today that the Board of Directors has determined to make a fifth liquidating distribution to Company stockholders in the amount of $0.80 per share of the Company’s common stock (approximately $4.95 million in the aggregate). The record date for this distribution is July…
The Inverness Sherriff Court handed an eight year disqualification to Donald Cameron, 37, while his fellow director Steven Cameron, 36, signed an undertaking agreeing not to run or control a company for seven years. Both were directors of Highland Groundworks Limited. In April 2015 Highland Groundworks went into liquidation with liabilities of £41,786. Steven…
For some, it was The Art of the Steal. Hundreds of people swarmed the lobby of Atlantic City’s Trump Taj Mahal casino on Thursday, hoping to score big. But they weren’t gamblers. They were bargain hunters searching for rock-bottom deals at a liquidation sale of the contents of the ostentatious casino that Donald Trump built…
The slow and painful demise of Jawbone is finally coming to an end, as yet another effort to rejuvenate the business is beginning under a familiar name. After a multi-year struggle to maintain relevance in the consumer wearable market, Jawbone is now liquidating and thanks to an injection of capital from a new, unnamed investor,…
Hosain Rahman, CEO and co-founder of Jawbone. REUTERS/Rick Wilking Jawbone, the company that made fitness trackers and Bluetooth speakers, is liquidating its assets, according to a source familiar with its plans, marking the latest casualty in the once-promising wearable device market. Jawbone founder and CEO Hosain Rahman has started a new company called Jawbone Health Hub,…
A supercomputing research and development company once led by controversial Australian Bitcoin figure, Craig Wright, has been placed into liquidation. Cloudcroft Pty. Ltd., which had been branded as a specialist in the development and research of supercomputers and hyper density storage systems, was part of the DeMorgan group of companies of which Craig Wright was…
The news in the world of trucks this week includes Truck Sales Taking Off, Flynn Liquidation, Isuzu Bullbars, Groeneveld Takeover and a Penske Expansion. The latest sales figures released by the Truck Industry Council (TIC) suggest an optimistic trucking industry is starting to invest in more new trucks at the heavier end of the market.…
The debt-resolution process for Nicco Corporation, one of the first companies to approach the National Company Law Tribunal (NCLT), is still hanging in the balance with lenders asking the company to rework its resolution plan, according to sources close to the development. The committee of creditors has suggested some changes in the resolution plan. To…
news Flynn Transport prepares to go into liquidation. Marc Stapelberg NSW Police have confirmed they are investigating allegations of fraud at Flynn Transport. The company went into voluntary liquidation yesterday with director Tony Flynn partly blaming the company’s demise on the actions of a former employee. Today it was confirmed that detectives from Richmond Local…