The Reserve Bank of India (RBI) governor, Raghuram Rajans disagreement in government banks taking majority stakes in the proposed stressed-assets funds is justified. Rajan is right because if a bank controls the stressed-asset fund, it would amount to receivables from the sale being transferred from the bank to the fund. What is more important to…
IAIN MCGREGOR/FAIRFAX NZ Almost 400 companies and contractors are owed nearly $20 million by Brent Mettrick’s failed Stonewood companies, a liquidator’s first report shows. Almost 400 companies and contractors are owed nearly $20 million by the failed Stonewood Homes companies. The extent of the fallout created by the liquidation of Brent Mettrick’s founding franchise has been revealed in the…
Christian Keszthelyi Tuesday, June 7, 2016, 14:31 Some 130 employees of porcelain maker Zsolnay resigned from their jobs effective immediately, abandoning the company for the newly formed Ledina Kerámia, the latters legal representative told Hungarian news agency MTI today. Ledina Kerámia was created by Zsolnays minority owner Pécs Council, to take over operations from Zsolnay…
Stripper and one-time prostitute Lisa Lewis’ boxing promotion company has failed after just getting off the ground. Grant Wills of Insolvency Services NZ confirmed he is putting Rampage Promotions Ltd into liquidation as the company owes 22 creditors between $45,000 and $48,000. Some of those out of pocket from her April event include New Zealand…
Lisa Lewis’ boxing promotion company has failed after just getting off the ground. Grant Wills of Insolvency Services NZ confirmed he is putting Rampage Promotions Ltd into liquidation as the company owes 22 creditors between $45,000 and $48,000. Some of those out of pocket from her April event include New Zealand boxers, fight judges, a…
07 June 2016 , 10:36 AM by Jacquie Mackay The Blackwater Country Club and Mine Workers Clubs have been a part of the social fabric of the town of Blackwater for decades, but their future looks a little uncertain at the moment. The community clubs have gone into voluntary administration with the economic downturn…
When two of the oldest names on the UK high street BHS and Austin Reed collapsed into administration in the space of two days last month, they brought the arcane process of managing insolvent companies into the spotlight. More On this topic IN Financial Services But despite these high-profile failures, administrators have found themselves dealing…
Bulgaria’s Finance Minister Vladislav Goranov. Photo by BGNES Bulgaria has cancelled court proceedings for the closure of a joint project company with Russia and Greece formed to build an oil pipeline linking Bulgarian Black Sea port of Burgas with Greeces Aegean port of Alexandroupolis. “We terminated the case because the Greek side proposed to keep…
Video will begin in 5 seconds. More video Recommended Replay video Stocks to watch in the retail sector Nicholas Forsyth from Market Matters shares his top turnaround stories in Australia’s retail space. PT1M16S 620 349 Retail prices are set to rise, more big-name companies will fall over or be taken over. But don’t fear: Australians…
Golden age for retailers? More international retailers set to come to Australia. Photo: Brendon Thorne Retail prices are set to rise, more big-name companies will fall over or be taken over. But don’t fear: Australians will enjoy a golden age of retail in the next decade. As big retailers wrap up their stocktake sales, Andrew…