DURBAN – Absa Bank has applied for the liquidation of Mayfair Speculators, a company belonging to former Steinhoff CEO, Markus Jooste. The company, until this week, owned South Africa’s best racehorse and hundreds of other racehorses as well as a property portfolio and a portion of Steinhoff shares. Racing is Jooste’s passion and he was…
Absa Bank has applied for the liquidation of former Steinhoff CEO Markus Joostes Mayfair Speculators, the company that, until this week owned South Africas best racehorse, Legal Eagle, as well as hundreds of other racehorses, a property portfolio and a chunk of Steinhoff shares. Absa has also demanded an investigation into a suspicious transaction that…
Gujarat NRE founder Arun Kumar Jagatramka. Photo: Indranil Bhoumik/Mint Gujarat NRE Coke Ltd is staring at liquidation after the Kolkata bench of the National Company Law Tribunal (NCLT) on Wednesday declined to extend the deadline for finalizing a rescue plan for the insolvent firm beyond the mandatory 270-day period allowed under Indias new bankruptcy code.…
A LIQUIDATOR has been appointed to wind up a 67-year-old Toowoomba company. Family-owned Peters Coaches closed its doors last week after six decades of operation. Shareholders of Peters Coaches, trading as RDP Enterprises Pty Ltd, voted to place the company into liquidation. Toowoomba liquidator Adam Ward of Worrells Solvency and Forensic Accountants said the company…
HONOLULU (AP) Hawaiian Airlines’ parent company agreed to purchase Island Air’s operating certificate and other assets in a move that could save the failed company from liquidation. The trustee overseeing Island Air’s bankruptcy case filed a last-minute motion disclosing Hawaiian Holdings Inc.’s purchase. If the sale is approved, then the trustee’s attorney Simon Klevansky said…
With effect from 23 November 2017 Parekh Aluminex announced that Corporate Insolvency Resolution Process has been initiated under the provision of Insolvency and Bankruptcy Code, 2016 by an order of the National Company Law Tribunal with effect from 23 November 2017. The powers of the Board of the… Read the full article at: http://www.business-standard.com/article/news-cm/parekh-aluminex-intimates-of-initiation-of-corporate-insolvency-resolution-process-117122000985_1.html
The Construction, Forestry, Mining and Energy Union says construction company Grocon has not paid several groups of sub-contractors in Queensland for six to eight months, as concerns about the company’s future continue to simmer. Some contractors working on the group’s Queensland projects such as the Parklands Project, which forms the athletes’ village for next April’s…
HK: Ashurst snaps up restructuring partner from White & Case | Asian Legal Business HK: Ashurst snaps up restructuring partner from White & Case Ashurst has hired restructuring specialist Damien Whitehead as a partner in… Read the full article at: http://www.legalbusinessonline.com/appointments/hk-ashurst-snaps-restructuring-partner-white-case/75212
As previously disclosed, on October 4, 2017, the Company filed a definitive proxy statement for a special meeting of its stockholders, which was held on October 26, 2017 (the “Special Meeting”). At the Special Meeting, the Company’s stockholders approved an asset purchase agreement for the sale of substantially all of the Company’s assets (the “Asset Sale”)…
Safety of bank deposits has vaulted into the centre-stage of public discourse for the first time since the minirun on savings at ICICI Bank in 2008. Selective reading or more fittingly, misreading of the Financial Resolution and Deposit Insurance (FRDI) Bill has led the general public to interpret the proposed legislation as draconian – one…