THE Insolvency Practitioners Association is to become the first professional body to grant partial licences for practitioners wishing to specialise in either personal or corporate insolvency work. In October 2015, the governments Deregulation Act opened up the insolvency licensing regime to create greater competition and flexibility by allowing specialisation. Given the enabling provisions were enacted…
Oil and gas company Linc Energy has been placed into voluntary administration. Administrators PPB Advisory has been called in to work with management on options including a possible restructure. In a statement to the ASX the company said after receiving legal and financial advice, and considering commercial prospects, the board decided it was in…
Theres a lot of bad news out of corporate America these days. Bankruptcies are increasingly common, companies are struggling to make on-time interest payments and the latest earnings reports are expected to be disappointing. So its rather odd that investors are flooding into the most distressed bonds, with the debt set for its best two-month…
Donald Trumps revamped campaign team faces its latest test in Wyoming on Saturdayand they appear set to fail it. The state will select 14 delegates at its convention, and by focusing on the months-long process, Ted Cruz appears set for another sweeping win. It would be the latest delegate setback to Trump, who faces long…
Lawmakers in Bulgaria have voted to approve on a second reading changes to the Balk Insolvency Act paving the way for the publication of a report tracking the assets of insolvent Corporate Commercial Bank (Corpbank or KTB). Until now the text was only available in Parliament’s secret registry, which was not accessible to the general…
Skiens Aktiemolle ASA : * Sees dissolution and liquidation of the company to safeguard shareholder value in best way * Plan is to dispose Eidet 1 power station and property at Eikornrød * Plan is to distribute one or several extraordinary dividends in 2016 * Plan is to convene EGM for final decision on dissolution…
April 14 Skiens Aktiemolle ASA : * Sees dissolution and liquidation of the company to safeguard shareholder value in best way * Plan is to dispose Eidet 1 power station and property at Eikornrød * Plan is to distribute one or several extraordinary dividends in 2016 * Plan is to convene EGM for final decision…
The introduction of the Insolvency and Bankruptcy Code, 2015 (the Code) in the Lok Sabha by Finance Minister Arun Jaitley on December 21, 2015 was greeted by unanimous applause and a sigh of relief from all stakeholders. The Code first surfaced over a year ago when the Finance Minister announced that the government hoped to…
Prime Minister Malcolm Turnbull has urged Clive Palmer to “put his money up” to help workers sacked from the Queensland Nickel refinery, saying it is the least the magnate could do. Key points: Taxpayer-funded scheme would be a last resort Outstanding entitlements are about $73 million Clive Palmer “morally obliged” to pay workers’ entitlements,…
JOSEPH JOHNSON CJ Solutions Ltd (trading as Shilton & Brown Demolition) director and company shareholder Jim Shilton is devastated after his company was placed into liquidation. A Christchurch demolition company with big ticket contracts across New Zealand has gone bust owing more than $4.5 million. CJ Solutions Ltd, trading as Shilton & Brown Demolition, was placed into…