Troubled oil and gas company Linc Energy is to be wound up after creditors unanimously voted to place it into liquidation. The meeting went for just half an hour in Brisbane and the several creditors present did not ask any questions. PPB had recommended to creditors that Linc Energy be wound up. PPB Advisory…
A wave of corporate collapses is expected in both mainland China and Hong Kong as insolvency cases look set to soar in a slowing economy, says credit insurer. Fabrice Desnos, head of Asia-Pacific of credit insurer Euler Hermes, said insolvency cases in mainland China were expected to increase 20% this year, following a 24% jump…
A travel agency that was turning over approximately $2 million annually has collapsed into voluntary administration after a proposed merger fell through. The travel divisions of Round the World Experts Pty Ltd and RTWexperts Pty Ltd entered voluntary administration on May 9, with Timothy Mableson and Martin Lewis of Ferrier Hodgson appointed to manage the…
ANDREW GORRIE/FAIRFAX NZ One of Terry Serepisos’ former companies has been wound up, leaving debts of $38 million. A company owned by former property tycoon Terry Sereispos is being wound up, with a shortfall of more than $38 million. Receivers have released the final report for Century City Ventures, which shows the company still owes more than $38m…
ANDREW GORRIE/FAIRFAX NZ One of Terry Serepisos’ former companies has been wound up, leaving debts of $38 million. A company owned by former property tycoon Terry Sereispos is being wound up, with a shortfall of more than $38 million. Receivers have released the final report for Century City Ventures, which shows the company still owes more than $38m…
GOVERNMENT CHIEF WHIP Regina Doherty has defended her decision to liquidate a company in 2013. Doherty was a director along with her husband Declan of Enhanced Solutions Ltd, a company which bought and sold IT components until it went to the wall in 2009. However, it was not liquidated until 2013. The liquidators report shows…
WASILLA The Wasilla Sports Authority store will be closed by the fall if not earlier as part of a bankruptcy liquidation process the struggling national retailer entered into this week for its remaining 300 outlets. Once the nation’s largest sporting goods retailer, Colorado-based Sports Authority filed for Chapter 11 bankruptcy protection in early March with…
The MD of the Antique Wine Company has said the firm is set to enter liquidation after efforts to revitalise its finances have failed. Antique Wine Co (AWC) has been left in an untenable position following a drop-off in Bordeaux trading and in the aftermath of a failed lawsuit against the group over alleged fake…
Shirtmaker Nicholas Jermyn has been placed under voluntary administration, with PWC appointed administrators. Two stores will close but the company is assuring customers that it remains open for business. Shirts The Willis Street store in Wellington and Botany Town Centre store in Auckland will be closing but the directors say all their other stores remain…
Michael King, WXIA 2:03 AM. GMT May 19, 2016 MIAMI, FL – MARCH 02: A Sports Authority store is seen as the company files for Chapter 11 bankrupty on March 2, 2016 in Miami, Florida. The chain of stores owned by private equity firm Leonard Green & Partners will seek to sell or close about…