MANILA, Philippines Payment of claims of shuttered Prudentialife Plans Inc. will continue after the Insurance Commission (IC) scored a win against the company at the Supreme Court four years after it was put under receivership. “The Court resolves to deny the petition for failure of petitioners to sufficiently show that the Court of Appeals committed…
SINGAPORE: Singapores largest bank was supporting Swiber Holdings Ltd until just before the troubled oil services company said it was unable to pay its debts. DBS Group Holdings Ltd provided a bridging loan to Singapore-based Swiber shortly before it filed for liquidation, the bank said in an e-mail late Tuesday. At the time, Swiber was…
The recent news that Eagle Boys Pizza has gone into voluntary administration, owing millions of dollars to creditors, is enough to make any business owner nervous. In business, were always in the position where others owe us money so what would you do if one of these people or businesses suddenly went bust? Would you…
INNOVATIVE: Changes to insolvency laws could make way for “turnaround management” of companies in distress, impacting the rate of corporate failure. IT seems the government is serious about trying to transform our economy with its National Innovation and Science Agenda. Innovation is an important element of any business, and can be a key differentiator between market leaders and…
Mining woes: Waratah Engineering has been placed in administration but there are hopes it will be sold in the near future. TWO people have lost their jobs at an Argenton mining machine company that has been placed in administration almost seven years to the day after it last hit turbulence. Local insolvency specialists Rapsey Griffiths…
02 August 2016 Melissa Coade View Comments Dedication to client excellence has been identified by the managing partner of Rostron Carlyle Lawyers as critical to enduring business success. …
Swiber now says it plans to try to restructure whilst under judicial management Swiber Holdings, which announced last week that it planned to go into liquidation, now says it plans to try to restructure the business following talks with the companys major financial creditor. In a statement, Swiber Holdings said that rather than go for liquidation…
The liquidation of council-owned roading construction company Infracon has ended, with the millions of dollars of debts the business left on its collapse all paid. Infracon was placed into liquidation in August 2014 by its two owners, Tararua and Hawke’s Bay district councils, then quickly purchased by Manawatu roading firm Higgins – which has since been sold to Australian company Fletcher Building –…
The liquidation of council-owned roading construction company Infracon has ended, with the millions of dollars of debts the business left on its collapse all paid. Infracon was placed into liquidation in August 2014 by its two owners, Tararua and Hawke’s Bay district councils, then quickly purchased by Manawatu roading firm Higgins – which has since been sold to Australian company Fletcher Building –…
Swiber Holdings Ltd., the Singapore-based offshore oil and gas services group, said it is dropping liquidation plans and intends to restructure its business following talks with the companys major financial creditor. Swiber plans to operate under so-called judicial management, according to a statement to the Singapore exchange Friday. The arrangement would allow the company to…