(Adds share performance, details throughout) By Guillermo Parra-Bernal Feb 2 Itaú Unibanco Holding SA plans to boost loan-loss provisions faster than rivals and slow loan disbursements this year, prompting shares to slump on Tuesday, as Brazil’s longest recession in over a century and slowing activity across Latin America bite harder than expected. Provisions could rise…
Written on the 1 February 2016 GLOBAL law firm Jones Day today opened an office in Brisbane, with legal eagle Brett Heading joining as partner. Heading previously served as chairman and partner of McCullough Robertson for more than 30 years, where he oversaw some big IPOs in that time, including the floats…
NATIONAL Australia Bank has refused to address key questions about testimony given by one of its senior executives to a Federal Court public examination of the collapse of builder Walton Construction. The bank has previously acknowledged that 10 months out from the Walton collapse it had $20 million exposure to the builder, the last amounts…
Prime Minister Malcolm Turnbull was once an investor in PlayUp, which went into liquidation last week. Photo: Justin McManus A sports media business backed with more than $70 million in funding by some of Australia’s business, political and sporting elite, including Prime Minister Malcolm Turnbull, has been placed into liquidation. PlayUp’s holding company, Revo Pty Ltd, did not contest a…
Prime Minister Malcolm Turnbull was once an investor in PlayUp, which went into liquidation last week. Justin McManus A sports media business backed with more than $70 million in funding by some of Australia’s business, political and sporting elite, including Prime Minister Malcolm Turnbull, has been placed into liquidation. PlayUp’s holding company, Revo Pty Ltd, did not contest a winding-up…
Reasons of Liquidation of a PT Based on article 142(1) of the Company Law, a PT shall be liquidated based on the following reasons: 1. resolution of the General Meeting of Shareholders (GMS) in which it resolves to liquidate the PT;2. expiry of the establishment period as mentioned in the Articles of Association (in case…
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…
Queensland Nickel creditors and observers signing on at the meeting in Townsville on Friday. The company sacked 237 workers at its Yabulu refinery near Townsville earlier in January and is now in administration. Photo: ANDREW RANKIN Clive Palmer’s Queensland Nickel will require a capital injection of “tens of millions of dollars” to avoid liquidation unless there…
Seven Laura Ashley stores in Australia have been closed as the voluntary administration of the retail chain in Australia continues. The Australian arm of the homewares and clothing retail entered voluntary administration on January 7, at which time the chain was operated 38 stores in Australia. Administrators FTI Consulting confirmed this morning seven Laura Ashley…
The directors of a Chesterfield insolvency practice which started life as a hairdressing business have been handed ten-year bans for failing to ensure the company acted with commercial probity and in a competent manner. Lee Anthony Pitchford (aged 36) and Jason Pollard (aged 33) were directors of Chesterfield-based Baker Donald Ltd. The disqualifications, from January…