The governments new and improved rules for insolvency resolution are not good enough and will pave the way for huge political embarrassment for the government. Neither the original rules nor the new ones preclude original promoters who ran their companies into bankruptcy repossessing their assets on the cheap, shorn of debt. This is a bad…
BOUNTY Mining Limited has raised $17 million to purchase Cook Colliery mine, with plans to resume operations by early next year. Bounty will settle the acquisitions, which also includes the Minyango Coal Project, for $31.5 million, with $6.7 million paid on completion and the balance deferred and paid over 18 months. The purchase includes all…
Ten’s history shows Australia’s third free-to-air network struggling against a backdrop of declining advertising revenue, increasing competition and leadership tussles. 1964 – Launched as ATV-0 and owned by the Ansett transport and media group 1979 – Rupert Murdoch gains a 50 per cent stake in Ansett, giving him control of channel 0 1980 – The…
Gadens has appointed James Roland as partner in Sydney. Roland returns to the national firm from TurksLegal, where he has been a partner since 2014. Before TurksLegal, he was a senior legal counsel at National Australia Bank, where he moved to after a brief stint as senior associate in Gadens in 2009. Roland, who has…
TORONTO, Nov. 8, 2017 /CNW/ – Rockwell Diamonds Inc. (“Rockwell” or the “Company”) (NEX: RDI.H; JSE: RDI) provides a further update as to the developments with respect to its three subsidiaries in South Africa which were placed in provisional liquidation on September 12, 2017. These subsidiaries are Rockwell Resources RSA (Pty) Ltd (Rockwell RSA), HC…
A Supreme Court judge is due to hand down his decision on the transfer of Ten Network’s shares to US media giant CBS, marking the crucial final stage of the $41 million takeover over the troubled free-to-air broadcaster. A hearing in the NSW Supreme Court in Sydney concluded last Thursday, following days of delays made…
The liquidator of a collapsed construction giant has found evidence it says indicates the company’s director and founder knowingly traded while insolvent, according to a confidential report obtained by the ABC. Key points: Walton Construction placed into voluntary administration in October 2013 owing tens of millions of dollars to subcontractors Confidential liquidator report from…
Shutterstock photo (RTTNews.com) – Indian shares look set to open largely unchanged on Wednesday as politicians trade barbs on the merits and demerits of demonetization. While Congress leader Manmohan Singh called it an “organized loot”, Finance Minister Arun Jaitley called the note ban an ethical drive, a moral step that made corruption difficult.…
Reuters GABORONE, Nov 7 (Reuters) – KFC Botswana will come out of liquidation after a joint venture between Shell Fuel distributors, Vivo Energy Botswana and South African KFC franchise operator Baobab Khulisani agreed to buy the fast food chain. KFC Botswana, whose portfolio includes 12 stores, was placed under liquidation in June 2016…
GABORONE, Nov 7 (Reuters) – KFC Botswana will come out of liquidation after a joint venture between Shell Fuel distributors, Vivo Energy Botswana and South African KFC franchise operator Baobab Khulisani agreed to buy the fast food chain. KFC Botswana, whose portfolio includes 12 stores, was placed under liquidation in June 2016 after the company…