It looks like it’s the end of the line for one-time teen favorite store chain Wet Seal. The mall-based retailer is planning to close all of its 173 or so stores after failing to turn its business around, according to several media reports. The company did not immediately return a request from Fortune for comment,…
The future of Dunedin engineering company D.C. Ross, at present in receivership with debts of almost $19 million, has taken a turn for the worse. An application has been made to the Dunedin High Court by Fletcher Steel to have the company placed in liquidation. Under receivership, the company could potentially be sold as a…
Andreas Lehmanns practice focuses on financial services and corporate finance transactions as well as restructuring & insolvency. He advises banks on all aspects of debt financing structures including syndicated loans, corporate bonds and securitization transactions. Andreas has advised institutional investors, in particular investment funds, venture capital funds and real estate funds, in respect to their…
Homeowners caught up in the collapse of WA builder Builton Group will only be able to claim up to $100,000 in losses for an alternative builder to finish their half-built homes, potentially leaving many heavily out of pocket. The Burswood-based builder, which also trades under the brands Platinum Homes and Aspireon Homes, went into external administration on…
The Wisconsin Council on Problem Gambling reports that many callers to its helpline in 2016 faced “desperate” situations.(Photo: Submitted by Marshfield Clinic) By the time many out-of-control gamblers seek help, theyre desperate. On average, they are $38,090 in debt. Theyve maxed-out credit cards and drained bank accounts. Theyve lied to and stolen from family members.…
Burswood-based builder Builton Group, which trades under the brands Platinum Homes and Aspireon Homes, has gone into administration, joining a growing list of WA residential builders to go bust. Australian Securities and Investments Commission documents revealed the builder went into external administration on Monday, after WAtoday reported on Friday staff had been told not to come…
Homeowners caught up in the collapse of WA builder Builton Group will only be able to claim up to $100,000 in losses for an alternative builder to finish their half-built homes, potentially leaving many heavily out-of-pocket. The Burswood-based builder, which also trades under the brands Platinum Homes and Aspireon Homes, went into external administration on…
A writ petition has been filed in the Bombay High Court challenging the constitutional validity of the Insolvency & Bankruptcy Code, more particularly, Section 7 of the Code. Section 7 allows the initiation of a corporate insolvency resolution process by a financial creditor, that could be any person to whom a debt is owed. This…
Judges in Delaware and Canada approved on Tuesday a plan to pay more than $7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009. The rulings by U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the Superior Court of…
The security of payments for subcontractors in the building and construction sector are again in the spotlight after Western Australian builder BuiltonCorp collapsed into voluntary administration on Monday. The companys administrators are advising clients with homes under construction by the company that its likely they will have to find new builders to complete projects their projects. Dino…