RACHAEL KELLY/FAIRFAX NZ Gore building firm Price Bros Builders Ltd has gone into liquidation. A Gore building firm has gone into liquidation, owing more than $300,000 to secured and unsecured creditors. Price Bros Builders Ltd ceased trading several days before it was placed into liquidation by shareholder resolution on November 17, 2015. A liquidation report…
The total number of Scottish business failures fell by 4 per cent last year, but there was a sharp rise in the final quarter. KPMG said that it had recorded 902 corporate insolvency appointments in 2015, down from 943 in 2014 and the high of 1,287 from 2011. However, there was an increase in liquidations…
The High Court has approved a $2.2 million (2 million) payment for an American law firm for fees due to it from a liquidated Irish company. The money for the Minneapolis-based Nilan Johnson Lewis (NJL) firm will be paid out of a sum of $4.5 million due to go to the liquidation of ECTG Ltd…
The board of directors of Australian Renewable Fuels (ARFuels), the countrys largest biodiesel producer, has placed the company into voluntary administration. Under Australian law, voluntary administration is a form of insolvency arrangement, which creates an opportunity for flexible approaches to bring about a better outcome for stakeholders than may otherwise occur in liquidation. The company…
Murray Wilson/FAIRFAX NZ Victory was one of the bars that had an arrangement with Hospo Bros, which is in liquidation. A Palmerston North-based bar management company with connections to pubs in various cities is unable to repay the $1.2 million it owes. The liquidators in charge of Hospo Bros have as good as completed their…
Financial panics have an unnerving tendency to coincide with the annual World Economic Forum in Davos. Bloomberg by Jeremy Warner The trouble with the World Economic Forum is that it has a propensity to become something of an echo chamber. Rather than promoting a plurality of views, ideas and sentiments, the mood tends to get focused into…
A biodiesel plant listed on the Australian Securities Exchange says the federal government is partly to blame for it collapsing into voluntary administration. Australian Renewable Fuels Limited, based in Barnawartha in north-east Victoria, appointed voluntary administrators on Thursday. Melissa Humann, David McEvoy and Nicholas Martin from PPB advisory are now managing the companys assets. A…
THE magnitude of yesterday’s revelations of a Coast company director holidaying in Las Vegas days after his company entered liquidation was quickly apparent. After the Daily revealed prominent Mooloolaba restaurateur Todd Young’s company, Todd Young Investments Pty Ltd, which through a trust operated Bella Venezia at Mooloolaba, had gone into liquidation and days later he’d…
Governor Rick Snyder of Michigan presents himself as a bipartisan, pragmatic accountant. His self-proclaimed nickname is One Tough Nerd. He has no trouble upsetting Democrats and Republicans on the same day. Related: Flint water crisis: emails reveal governor Snyder informed of problems a year ago He talks about Michigan residents as his customers and tries…
New Delhi: Officials from the ministries of finance and corporate affairs on Wednesday briefed a parliamentary panel on the Insolvency and Bankruptcy Code, 2015, which seeks to provide an easy exit option for insolvent and sick firms. The briefing was given to the 30-member Joint Committee on the Insolvency and Bankruptcy Code, 2015. The panel…