Etihad-controlled Italian flag carrier Alitalia is now a step closer to liquidation after its employees rejected a rescue plan negotiated by the government and unions that would have forced staff to take a salary cut in exchange for 2 billion in new cash needed to keep the company flying. In essence, pilots have clearly rejected…
The entrance to Forres Enterprise Park. A MORAY company has gone into liquidation with the loss of 11 jobs. Staff at the Forres-based Scotland Electronics (International) Ltd were made redundant on Friday. A petition seeking the winding-up of the business was raised by Her Majestys Revenue and Customs (HMRC) in February, and a winding up…
WHEN a long-standing Toowoomba business went into voluntary administration, two friends made sure 25 employees and more than 400 customers would not be lost. Dale and Linda Ostrofski and Steve and Sandy Cay bought metal coatings business VT Industrial Coatings and renamed it PBS Specialty Coatings. The VT Industrial Coatings group went into voluntary administration…
A Tel Aviv court on Sunday approved selling High Q, one Israels oldest test-preparation companies, to London-based Global University Systems, just a week after the company had been forced into liquidation. Tel Aviv District Court President Jud… Read the full article at: http://www.haaretz.com/israel-news/business/1.785240
Anzac Day dawn service, 2016. Picture: Alastair Miller MANY will rise early to commemorate Anzac Day by attending a dawn service. Others will head to marches mid-morning, and some will get among the two-up. Heres our guide to whats happening where you are on Anzac Day, commemorating the 102nd anniversary of the Anzac landings at…
SINGAPORE – Viva Industrial Trust said on Sunday night (April 23) that facilities manager Jackson International Pte Ltd, which provides rental income support to Viva for Jackson Square, a light industrial building in Toa Payoh, has filed for liquidation. Viva does not expect the matter to have a material impact on its financials or distributions…
The South Australian branch of the RSL has been placed into voluntary administration after struggling with rising costs and declining revenue. The veterans organisation says it decided to take the step at a board meeting last week, following a review of the SA branch’s troubled finances. The decision was then unanimously supported by the branch’s…
Malaysian offshore vessel builder and owner Nam Cheong is the latest Singapore-listed offshore firm to seek restructuring. In a statement to the Singapore Exchange Nam Cheong said it had taken steps to review options to restructure its business, which were part of ongoing measures to ride out the challenging market. Nam Cheong said it was…
A few years passed by and just when the exasperated lenders were struggling hard to make the resort pay back came the Insolvency and Bankruptcy Code (IBC) 2016. A well-known resort in Assam owed its corporate lenders just around Rs 30 lakh and didnt bother to repay even the relatively small amount despite several reminders.…
NEW DELHI: The government plans to put in place a fast-track resolution process for startups and small companies under the Insolvency and Bankruptcy Code. Looking to provide a faster exit mechanism for certain class of entities, the Insolvency and Bankruptcy Board of India (IBBI) has come out with draft norms in this regard. The proposal…