A plastics recycling company has blamed South Australia’s soaring electricity prices for its closure, with the loss of 35 jobs. Plastic Granulating Services has gone into liquidation after its electricity bills soared from $80,000 a month to $180,000 a month over the past year and a half. Managing director Stephen Scherer says the price hikes…
South Australia’s sky-high electricity prices have forced an Adelaide plastics recycling business to shut its doors, costing 35 workers their jobs, its managing director says. Plastics Granulating Services (PGS), based in Kilburn in Adelaide’s inner-north, said it had seen its monthly power bills increase from $80,000 to $180,000 over the past 18 months. Managing…
Facts Background Supreme Court decision Facts A Spanish company developed a building in Valencia. In 2005 it sold one of the flats in the building to an individual. In 2009 the developer registered the deed of dissolution with the Companies Registry. After the company was dissolved, the individual found defects in the flat’s flooring. She…
The RBI has reportedly asked banks to make steep increases in the provisioning for bad loans that are referred to bankruptcy courts. This might appear tough: the banks will have to find something like an additional Rs50,000 crore this year and a like amount next year, at a time when they, for the most part,…
Banks, which were earlier reluctant to even acknowledge bad loans, in the aftermath of the RBIs stricter non-performing asset (NPA) recognition norms, have started provisioning for them. However, there has been little clarity on the recovery or resolution of the NPAs. To speed up the recovery, the government recently introduced the Insolvency and Bankruptcy Code…
Crossroads Capital Announces Results of Special Meeting & Conversion to Liquidating Trust Friday, June 23, 2017 8:07 PM UTC LINCOLN, Neb., June 23, 2017 — Crossroads Capital, Inc. (the Company) announced the results of its reconvened special meeting held on June 23, 2017. The Companys special meeting of stockholders was convened on June 2, 2017. …
Beena Parmar Moneycontrol News The banking sector this week was shadowed largely with the bankers doing marathon meetings to decide on the 12 large corporate bad loan accounts identified by the Reserve Bank of India to be taken to the National Company Law Tribunal under the Insolvency and Bankruptcy Code. The 12 defaulted borrowers include…
LINCOLN, Neb., June 23, 2017 (GLOBE NEWSWIRE) — Crossroads Capital, Inc. (the Company) announced the results of its reconvened special meeting held on June 23, 2017. The Companys special meeting of stockholders was convened on June 2, 2017. Shareholders approved the Companys withdrawal of its election to be regulated as a business development company under…
MUMBAI: A consortium of lenders has given Punjab National Bank (PNB) the mandate to begin bankruptcy proceedings against Bhushan Power and Steel, one of the largest defaulters among the 12 companies identified by the Reserve Bank of India. The company, promoted by Sanjay Singhal, has outstanding loans of more than Rs 55,000 crore and is…
The Finance Ministry obligates itselfstarting next yearto fund the pensions of 9,000 Holocaust survivors who have so far received it from the Company for Location and Restitution of Holocaust Victims Assets, the amount of which is estimated to be about NIS 100 million annually. In anticipation of the…