Category Archives: Liquidation

Peter O’Brien Constructions goes into voluntary administration due to millions of dollars owed – Western Advocate

Peter O’Brien Regional building company Peter OBrien Constructions has gone into voluntary administration after being owed $12 million by debtors including a government organisation. The Blayney-based firm owes $5.7 million to creditors including regional subcontractors. A statement released by Mr OBrien said he and his wife Melissa had been forced to sell their assets. The OBriens have put up their…

Feuding partner lays charges against WP Rugby – Sport24

Cape Town Aerios, the company at the centre of a multimillion-rand advertising rights dispute with WP Rugby, say they have laid fraud-related charges against its board of directors over alleged non-presentation of the liquidated professional arms statement of affairs. Included are two directors of Remgro, the investment company which had a 24.9 percent stake-holding in…

Ten’s journey into hands of US giant CBS – SBS

Ten’s history shows Australia’s third free-to-air network struggling against a backdrop of declining advertising revenue, increasing competition and leadership tussles. 1964 – Launched as ATV-0 and owned by the Ansett transport and media group 1979 – Rupert Murdoch gains a 50 per cent stake in Ansett, giving him control of channel 0 1980 – The…

Ciber’s unsecured creditors push to file liquidation plan – Reuters

Unsecured creditors of Ciber Inc are seeking a court order allowing them to file a liquidation plan for the bankrupt information technology company, arguing talks over winding it down are stalled and its insiders are angling to protect themselves. In court papers filed on Friday, Cibers official committee of unsecured creditors said the IT-consulting company…

Protective measures listed out for power consumers – Deccan Chronicle

Chennai: With the northeast monsoon likely to strike by the second week of October, Tamil Nadu Electrical Inspectorate (TNEI) on Monday urged the power consumers to take protective measures. In a press statement, the chief electrical inspector to government urged the public to stay away from transformers, pillar-boxes, electrical poles and government electrical appliances. The…

CBS has lifted its bid for the Ten Network ahead of a crunch creditors’ meeting today – Business Insider Australia

American broadcasting giant CBS has increased its bid for the Ten Network, heading off a renewed offer by Australian billionaires Bruce Gordon and Lachlan Murdoch. TV pioneer Gordon and Twenty-First Century Fox executive chairman Murdoch had offered Tens unsecured creditors, excluding CBS, $35 million, or 13.40 cents in the dollar, compared with $32 million, or…

Private Equity Could Rescue Sears Canada From Liquidation – Sourcing Journal Online

Sears Canada could survive bankruptcybut with only a fraction of its locations intact. Former Sears Canada executive chairman Brandon Stranzl, who stepped down from his position last month to pursue a deal for the retail chain, has reportedly garnered interest from a private equity firm for a buyout. Referencing unnamed sources, The Wall Street Journal…

NCLT To Initiate Insolvency Proceedings Against Stayzilla – NDTV Profit

Bengaluru: The Chennai bench of National Company Law Tribunal (NCLT) today ordered commencement of the corporate insolvency resolution process against online homestay startup Stayzilla and asked them to pay the outstanding dues to JigSaw Advertising and Solutions. “The operational creditor (Jigsaw) has fulfilled all the requirements of law …We are satisfied that corporate debtor (Stayzilla)…

Nahji Chu: Contrary to the popular mantra, my business failure didn’t feel like something to celebrate – The Sydney Morning Herald

  People who say there is no such thing as failure have never either truly failed at anything or had to declare bankruptcy. Failure is not simply a blessing in disguise, a shut door that simultaneously swings open to a new one of superior realm of reward leading you to think “if only I had…

Empire Oil Company enters voluntary administration – Ferret

Empire Oil & Gas subsidiary Empire Oil Company has entered voluntary administration shortly after going into receivership. The Empire subsidiary entered receivership yesterday after lender Mineral Resources issued the company a default notice for a $15 million loan and a deed of appointment of receivers and managers. Deloitte was then appointed as receivers and managers…