JOHANNESBURG – The controversial Gupta family may lose its recently-acquired Optimum Coal Mine. A multinational company is threatening the mine with liquidation, claiming it is owed money for goods and services. Barely a week ago, reports emerged that R1.3-billion of Optimum Coals rehabilitation funds, were transferred from a Standard Bank account to the…
LWP Capital Inc. Provides Update on Liquidation Proceedings LWP Capital Inc. October 26, 2016 10:36 ET TORONTO, ONTARIO–(Marketwired – Oct. 26, 2016) – LWP Capital Inc. (formerly “Legumex Walker Inc.“) (“LWP” or the “Company“), by KSV Advisory Inc. in its capacity…
Sian Aitken Sian Aitken and Graeme MacLeod look at a case confirming the precedence of domestic administration proceedings in a multi-jurisdictional winding-up, marking the first time modified universalism has been recognised in Scots law. The Court of Session has confirmed that the administration in Scotland of a Scottish company will take priority over an Indian liquidation…
Traditional owners in Western Australia are worried the collapse of Pluton Resources could trigger a significant environmental incident in the Kimberley. The WA Department of Mines and Petroleum has confirmed Pluton’s Cockatoo Island iron ore pit is filling with water and is expected to be full within days. “It is anticipated that at…
Domestic slavery, sex slaves and scandal-ridden convenience store chain 7-Eleven are top of the agenda for a new powerful government-run migrant taskforce headed by Professor Allan Fels. Professor Fels will write to 7-Eleven this week seeking details on its compensation scheme and workplace compliance to ensure it is addressing systemic wage fraud across its franchise…
Listed on the NZX, Wynyard Group is a cyber security firm with offices in New Zealand, Australia, United States, United Kingdom, Canada, and the Middle East. Wynyards solutions are used by Fortune 500 companies, national security agencies and critical infrastructure operators across the globe – but its just gone into voluntary administration. The firm informed shareholders…
Listed on the NZX, Wynyard Group is a cyber security firm with offices in New Zealand, Australia, United States, United Kingdom, Canada, and the Middle East. Wynyards solutions are used by Fortune 500 companies, national security agencies and critical infrastructure operators across the globe – but its just gone into voluntary administration. The firm informed shareholders…
MURRAY WILSON/FAIRFAX NZ Several months of poor trading and the opening of two supermarkets in Tauranga led to the decision. Another Mad Butcher franchisee has gone into liquidation, the eighth in the past two years. The owners of the Mad Butcher store in Tauranga appointed BDO the liquidators of their company on Monday. Several months…
Shaktikanta Das expressed hope that Bankruptcy and Insolvency law would become operational by year end New Delhi: Economic Affairs Secretary Shaktikanta Das on Tuesday expressed hope that the Bankruptcy and Insolvency law would become operational by the end of this year, leading to further ease of doing business. “We have a definite roadmap to implement…
New Delhi: The Insolvency and Bankruptcy Code is expected to become operational by the end of the year, economic affairs secretary Shaktikanta Das said on Tuesday. The government has maintained it is following an aggressive timeline for implementing the law, which is expected to be a game changer for the resolution of insolvency cases. The…