Australia has announced plans to hit its offshore industry with a levy to cover the $200m cost of decommissioning an abandoned project off the countrys northern coast. The facility, known as Northern Endeavor, consists of a floating production, storage, and offloading vessel that had been permanently moored in the Timor Sea. The project was shut…
STUFF CBL insurance was put into liquidation in May 2020. (File photo) A third man charged in relation to an alleged multimillion-dollar fraud linked to collapsed insurer CBL will have a separate trial to two other men accused. CBL Insurance chief executive Peter Alan Harris and chief financial officer Carden Mulholland are set to go…
New Look entered into a CVA in September 2020 as a result of the trading difficulties experienced during the Covid-19 pandemic. It did so as part of a wider restructuring exercise, which also involved a scheme of arrangement of its finance creditors. The CVA is New Looks second, following a CVA in 2018. The 2020…
A sharp fall in company collapses masks the financial pain about to emerge from the pandemic, East Anglian insolvency experts are warning. The East of England branch of insolvency and restructuring trade body R3 is urging company bosses to plan ahead for the withdrawal of government support schemes. Ironically, the latest government figures for England…
Construction firm Ahluwalia Contracts has entered into a settlement agreement and resolved the payment issues with its operational creditor, A2 Interiors Products Pvt Ltd, and is filing an application to withdraw the insolvency proceedings. On May 5, the Delhi-based bench of the National Company Law Tribunal (NCLT) had allowed the insolvency plea filed by A2…
A Lower Hutt company that makes prefab classrooms is in voluntary administration but the Education Ministry says it is working with it. The Ministry of Education says it is working with AdBuild and its administrators to ensure projects continue with as little disruption as possible (file picture). Photo: Ministry of Education AdBuild’s creditors appointed administrators…
Advanced Building & Construction Limited (which trades as AdBuild) had about 30 projects on the go, though it was not being used to supply prefabs to leak-hit Hutt Valley High School. Hutt High is instead expecting to get a total of 16 new prefabs from Portacom, the first four in August, then the others through…
Hyderabad: The National Company Law Tribunal (NCLT) at Hyderabad has ordered liquidation of Meena Jewellers Diamond Pvt Ltd (MJDPL), Meena Jewellers Pvt Ltd (MJPL) and Meena Jewellers Exclusive Pvt Ltd (MJEPL) for their failure to repay Rs 254 crore loan availed from SBI.Though the two-member NCLT bench, comprising BP Mohan, member (judicial), and A Veera…
The White House Today the Biden-Harris Administration posted visitor logs from January 2021. The Biden-Harris Administration will be the first administration to post visitor logs from its first full year in office. Visitor log disclosures will occur on a monthly basis. This release was made in accordance with the reinstated policy to voluntarily disclose White…
The future for McWilliams Wines looks to be assured once again after being acquired by Calabria Family Wines, in a deal announced by KPMG and selling agent Colliers International. The sale, which is set to be complete by 30 April, will see the Griffith-based Calabria family take ownership of the McWilliams brands, intellectual property, and…