Last year was yet another dismal 12 months for the retail industry in Australia and just two weeks into 2019, Ed Harry has joined the long list of companies to pull up stumps. On Tuesday, KPMGs Brendan Richards and Gayle Dickerson were appointed voluntary administrators after a particularly tough Christmas sales period for the chain,…
Maddocks has appointed a second partner in a month. Danielle Funston is joining the independent firm in Sydney, making the move from K&L Gates, where she is a partner. She was also previously a senior associate at Norton Rose Fulbright. Funston adds to Maddocks restructuring and insolvency expertise. She advises clients on recoveries, liquidations, corporate…
Share this: BestJet, a Queensland-based airline booking company, went into voluntary administration in December 2018, leaving many Australian customers badly out of pocket. Thousands of Australians who had outstanding bookings with the company have been told they have no tickets and are now left arguing with multiple parties trying to secure a refund. In this…
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As advised by Mr, Subodh Kumar Agrawal, Resolution Professional, this is to inform that 14th meeting of the Committee of Creditors (COC) will be held on Friday, January 18, 2019 at 11:30 am at the State Bank of India, Stressed Assets Management Branch-II, Raheja Chambers, lst Floor, B Wing, Free Press Journal Marg, Nariman Point,…
Absa, one of the countrys top four banks, has been accusedby an exotic car dealership of trying to bully it into liquidation with claims that it owes it more than R400m. The owners of Ballito-based SMD Group, which sells Ferraris, Porsches and Lamborghinis, dispute the amount and said Absa had ignored an offer from a…
ICPW Liquidation (OTCMKTS:ICPWQ) and Industrial Services of America (NASDAQ:IDSA) are both consumer discretionary companies, but which is the superior business? We will compare the two companies based on the strength of their analyst recommendations, profitability, risk, valuation, earnings, institutional ownership and dividends. Insider & Institutional Ownership 5.1% of Industrial Services of America shares are…
Bankers are worried that the corporate insolvency resolution process (CIRP) could turn chaotic and face delays as the Insolvency and Bankruptcy Board of India (IBBI) may amend the rules, giving operational creditors (OCs) a larger say in the resolution process. Their fear stems from the observations of a two-judge Supreme Court Bench last month that…
South African furniture conglomerate Steinhoff International Holdings has seen the voluntary administration of its European arm blocked by a company claiming to be a creditor, according to a release sent to investors. The company known as LSW GmbH an entity reportedly related to Andreas Seifert, who,according to BusinessDay, currently has a dispute in the Austrian…
Companies that break the rules could face tougher sanctions under plans being considered by Labour to scrap Britains multiplicity of overlapping regulators, which the party believes cave in to powerful commercial interests and fail to protect consumers. A report commissioned by John McDonnell, the shadow chancellor, argues that there needs to be a new authority…