The Reserve Bank of India (RBI) on Tuesday said it has shortlisted 12 cases which could be immediately referred for bankruptcy proceedings. It also laid down criteria to compel banks to invoke the insolvency code to solve Indias Rs10 trillion stressed assets problem. In an email interview, M.S. Sahoo, chairman of the Insolvency and Bankruptcy…
DOORS SHUT: The former premises of Spectrum Window Fashions on Havannah Street. A BUSINESS owned by former Bathurst mayor Gary Rush has gone into voluntary liquidation owing money to the Australian Tax Office and some suppliers. Chris Chamberlain of Chamberlains SBR has been appointed liquidator for Spectrum Window Fashions Pty Ltd after a general meeting of the…
By Dominic Powell and Emma Koehn. The Ten Network has been placed into voluntary administration after shareholders Lachlan Murdoch and Bruce Gordon did not guarantee a $250 million loan to cover the stations $200 million debt, reports the Herald Sun. Administrators from KordaMentha have been appointed, and are currently undergoing a financial and operational assessment of…
SumoSalads founder says the game has significantly changed since the healthy food franchise network signed a range of current shopping centre leases, prompting the company to put two leasing entities in voluntary administration as negotiations with landlords over rental terms heat up. On Tuesday, administrators at were appointed to two companies relating to the lease agreements…
Wednesday June 14, 2017 Ten Network has announced it will go into voluntary administration, a day after its billionaire shareholders refused to back a new finance package. SA’s new political front as Brokenshire targets Qatari investment … Read the full article at: http://indaily.com.au/news/2017/06/14/ten-goes-voluntary-administration/
Minister for Communications and the Arts Mitch Fifield has called on Bill Shorten and Labor to show they care about the Australian media industry and support the proposed media reforms, following the news of Tens voluntary administration this morning. In a statement, Fifield said Tens announcement of voluntary administration was a wake-up call to the…
Written by George Mathew | Mumbai | Updated: June 14, 2017 7:36 am The IAC noted that under the recommended criterion, 12 accounts adding up to about 25 per cent of the current gross NPAs of the banking system would qualify for immediate reference under IBC, the RBI said on Tuesday. The Reserve Bank of…
Australia’s third-placed TV network Ten has entered voluntary administration after three of its biggest commercial backers shied away from providing ongoing support to the business. The news was first revealed by Fairfax Media and formally confirmed today. Fairfax Media reports Korda Mentha will be appointed as administrator. The administrators are Mark Korda, Jennifer Nettleton and Jarrod Villani. Ten…
Channel Ten has been forced to go into voluntary administration after its billionaire shareholders told it on the weekend they would no longer guarantee a key loan. The TV broadcaster has appointed KordaMentha as voluntary administrators of the company and its subsidiaries, it announced in a statement to the ASX on Wednesday morning. Play Video Don’t Play Uber CEO takes…
Following news yesterday that Australian TV network Channel Ten had suspended trading of its shares following news that a number of key shareholders would not guarantee the companys future, it has now been confirmed that the company will be placed into voluntary administration. This is extremely disappointing for all of us, said Ten CEO Paul Anderson in a meeting…