Virgin Australia has become the first major Australian airline to exit voluntary administration, with its new CEO and managing director unveiling its future direction. On her official first day as Virgins boss, Jayne Hrdlicka showed off the airlines plan resulting from collaboration with staff and combined with detailed customer research. It includes retaining its core…
Two-decade Deloitte veteran Vaughan Strawbridge has been poached by FTI Consulting in Australia, where he has been appointed a Senior Managing Director. Strawbridge is a chartered accountant by background and has been atDeloitte Australia since 1998, interluded with a five-year spell at the firms UK office. A restructuring expert, Strawbridge has provided business turnaround services…
Ismael Majed Siza (60), a restaurant owner from Westminster, London, has been banned for 12 years and Keith Morgan Thomas (81), a concrete services company from Llanelli, Wales, has been disqualified for 6 years. Both are now banned from acting as directors or directly or indirectly becoming involved, without the permission of the court, in…
NEW DELHI: Markets regulator Sebi on Wednesday decided to tweak norms pertaining to 25 per cent minimum public shareholding for companies which undergo corporate insolvency resolution and seek relisting following the process. Besides, it decided to enhance disclosure for such companies, Sebi said in a statement after its board meeting. The move would ensure revival…
Eleanor Temple, Yorkshire Chair of R3 Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, responds to todays publication of Novembers corporate and personal insolvency statistics for England and Wales: The increase in corporate insolvency numbers in November has been driven by a rise…
Mon Purse co-founder Lana Hopkins. Luxury leather goods retailer Mon Purse has entered liquidation and reportedly ceased trading, amid complaints from customers saying they have been waiting for weeks to receive their orders. Liquidators from Wexted Advisors are seeking urgent expressions of interest for the business and its assets, according to the Sydney Morning Herald,…
As we approach the end of the 2020 and enter the final week of eNewsletters,Ragtraderis reflecting on the biggest digital stories of the year. Each day this week we will count down the top 10 stories from the website this year. Kicking off our list is Number 10 –Colette in shock administration as another icon…
The non-financial corporate (NFC) sector in emerging markets and developing economies (EMDEs) entered the pandemic with elevated financial vulnerabilities and corporate debt currently stands at record levels: the World Bank estimates that non-financial corporate debt for EMDEs stood at 39.1 percent in 2019,1up from 34.9 percent in 2010; the BIS estimates a much higher level…
Mr Pitt said the final cost of decommissioning the vessel permanently moored in Commonwealth waters in the Timor Sea – between the Laminaria and Corallina oil fields – was still to be determined. But he insisted the government was pushing ahead with the process “to remove potential risks to the environment” and announced a new…
Many investors fret that a corporate zombiepocalypse may be one of the thorniest problems the global economy faces in the coming years. But a bombshell paper by the New York Federal Reserve argues that this fear may be overdone. Even before the eruption of coronavirus, concerns that a growing horde of walking-dead companies usually defined…