MATTOON Real estate agent Delia Bunyard of Century 21 Kima Properties was the guest speaker for a recent Kiwanis Club of Mattoon hybrid in-person/Zoom meeting.
Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Multi-cloud technology services provider Rackspace Technology this week unveiled restructuring that will result in the laying off of about 10 percent of the companys US workforce.
Rackspace said it is investing between US$65 million and US$70 million to re-align resources towards fast-growing product and services offerings, including towards cloud services focused on such initiatives as cloud migration, elastic engineering, cloud-native application development, artificial intelligence, machine learning, and security services.
However, the company said in a Thursday regulatory filing, about 10 percent of its workforce are expected to be laid off, with about 85 percent of those roles slated to be replaced via Rackspaces offshore service c…
Read the full article at: https://www.crn.com.au/news/rackspace-laying-off-10-percent-of-us-workforce-567842
The Delhi High Court has granted interim protection to a homebuyer of Shubhkamna City residential project in Greater Noida West against a loan recovery proceedings initiated by a bank.
While staying the proceedings pending before the Debt Recovery Tribunal (DRT) in Delhi, initiated by Bank of Maharashtra, a Bench of Justice Vipin Sanghi and Justice Jasmeet Singh said: In our view, prima facie, it appears that the petitioner [homerbuyer] has been taken for a ride by the builder and it is not the petitioner who has received the loan amount.
The bank has disbursed the loan amount to the builder, and in these circumstances, it remains to be seen as to whether or not the petitioner is at all liable, the Bench said.
The courts direction came …
Read the full article at: https://www.thehindu.com/news/cities/Delhi/hc-relief-to-homebuyer-from-loan-recovery/article35530250.ece
Rupert Murdochs News Corp Australia has swung an axe in its commercial division after tapping consultancy McKinsey & Company to assist with another restructure.
News Corp sources familiar with the restructuring plans, who spoke on the condition of anonymity, estimated between 30 to 50 commercial roles were cut in recent weeks as the changes were implemented. McKinsey was working for the publisher of The Australian, Daily Telegraph and Herald Sun in the months leading up to the end of the financial year.
News Corps Australasia chairman Michael Miller has led a major restructure of the company in the last 18 months.Credit:Jessica Hromas
A News Corp Australia spokesperson confirmed the restructuring. We are reshaping our commercial bu…
Read the full article at: https://www.smh.com.au/business/companies/news-corp-cuts-jobs-brings-in-mckinsey-for-restructure-20210725-p58cpe.html
Kilburn-based Railroad Transport has been placed in voluntary liquidation with more than 100 staff around Australia made redundant.
Liquidator Tarquin Koch said the amount owed to them would be north of $2.1 million, but employee entitlements are covered under the federal Fair Entitlements Guarantee Scheme.
Although the company made slight losses on annual revenues of around $35 million in the past couple of financial years, there are no reports yet on exactly why the company has folded.
All its social media and web presence has been taken down and staff who are still answering the phone are directing all queries to the liquidator.
According to one report, company documents show the companys shareholders voted that it be wound up volun…
Read the full article at: https://bigrigs.com.au/index.php/2021/07/22/railroad-transport-placed-in-voluntary-liquidation/
Pic: Philip Toscano/PA Wire
Businesses are being urged to act early and seek advice as the Government’s Insolvency Service has shown a 63% increase in corporate insolvencies compared to June last year.
After a year of struggles, where thousands of businesses have faced furlough, redundancies, and closures, experts are advising businesses to plan ahead to build resilience, despite insolvencies being 18% lower than the number two years earlier, in June 2019.
Leading restructuring and insolvency professional, Oliver Collinge from PKF GM has warned that insolvency numbers are predicted to rise as government support schemes reduce, saying “It is inevitable that insolvency numbers will return at least to pre-pandemic levels relatively soon a…
Read the full article at: https://www.inyourarea.co.uk/news/company-insolvencies-surge-as-businesses-urged-to-take-action-early/
Bunyards stated mission as a real estate agent is to defy mediocrity and deliver extraordinary experiences for her clients. Bunyard talked about the local real estate market and how an agent can help you with the process of selling or buying a home.
For more information about Century 21 Kima Properties you can go to the company website. For more information about the Kiwanis Club go to www.mattoonkiwanis.com.
12 photos of Charleston locations from our archives
Wilb Walker Supermarket
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Read the full article at: https://www.pantagraph.com/business/local/century-21-representative-speaks-to-mattoon-kiwanis/article_5c2512c9-8bfc-5022-b13a-773f78a84c9f.html
In our weekly legal column, the Leader, with the expert advice of the team at GHP Legal, sets out to answer some of your problems. Today’s question is answered by partner Nathan Wright…
Q: While he was furloughed, getting paid but not working, my husband started gambling online. He ran up huge debts we cannot afford, has become a social moron and sits glued to his computer saying nothing to me or the kids. If I divorce him, will I be responsible for half his gambling debts, or would those be taken into consideration and give me a bigger financial settlement?
A: It does depend on the extent to which your husband’s gambling has depleted your joint assets. Under s25 Matrimonial Causes Act 1973 it could be considered as financial miscon…
Read the full article at: https://www.leaderlive.co.uk/news/19444941.responsible-half-husbands-gambling-debts-divorce/
news, local-news, Goulburn, Heron Resources, Tarago, Woodlawn Mine, administration, FTI Consulting
A company that was aiming to revive copper and zinc mining near Tarago has entered voluntary administration. Heron Resources notified the Australian Securities Exchange (ASX) of its decision on Friday. It followed failed attempts to secure what it described as a “suitable transaction” for the Woodlawn Mine project. The company secured state government approval in 2016 to extract 1.5 million tonnes annually of zinc, copper and lead ore concentrates to produce 150,000 tonnes of concentrate, for up to 21 years. READ MORE: Heron Resources forces redundancy at Tarago’s Woodlawn Mine Heron Resources battles to keep Tarago’s Woodlawn Mine afloat …
Read the full article at: https://www.goulburnpost.com.au/story/7352800/administrators-dig-deep-to-give-woodlawn-mine-a-fighting-chance/?cs=181
This article first appeared in Forum, The Edge Malaysia Weekly, on July 19, 2021 – July 25, 2021.
The aftermath of the pandemic and continuing shock to the economy has caused the balance sheets of businesses and corporations to be severely impaired. The negative effects are expected to continue until there is a clear end to the pandemic. Consequently, businesses are becoming insolvent and mere debt service moratoriums are unlikely to be sufficient, more so for small and medium enterprises (SMEs) that did not have large capital buffers as they entered the crisis. Restructuring and debt resolution offer a viable solution. However, an important challenge is how to achieve fairness in debt resolutions. The first step to achieving fairness is…
Read the full article at: https://www.theedgemarkets.com/article/my-say-revitalisation-corporate-sector-urgent-how-can-it-be-done-fairly-and-quickly
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AT&T Inc. (NYSE:T) is a great investment option at the moment. The stock is set to experience upside through both systemic and idiosyncratic tailwinds. From a market perspective, the company is expected to perform well as it’s a value stock, which typically combat inflation. The company is also in a restructuring process, causing investors to anticipate substantial gains.
Restructuring
AT&T has agreed on a deal with Discovery Inc. (NASDAQ:DISCA) to spin off its media assets. The purpose behind the agreement is to create a stand-alone brand, which will experience more significant synergies with the involvement of Discovery.
The company will retain 71% of the business and receive $43 billion in cash and debt securities, which wil…
Read the full article at: https://finance.yahoo.com/news/ts-corporate-restructuring-add-existing-180513830.html
The liquidator of Gujarat-based Sterling Biotech, which owes more than 8,100 crore to lenders, has initiated a liquidation process of the company as a going concern at a reserve price of 548.46 crore.
The company is the worlds sixth-largest manufacturer of Gelatin and has already seen interest from about a dozen companies, a person connected with the matter told ET, on the condition of anonymity. Even when the company is facing liquidation, it has retained its licences and approvals and there are about 1,000 people on its rolls.
The company, promoted by Chetan and Nitin Sandesara, was admitted for liquidation on May 8, 2019. It operates two manufacturing facilities in Vadodara, Karakhadi and Masar in Gujarat and one in Ooty in Tamil Nadu. …
Read the full article at: https://economictimes.indiatimes.com/news/economy/finance/liquidator-seeks-bids-for-sterling-biotech-as-a-going-concern/articleshow/84689580.cms
Recovering from bankruptcy is tedious; you never know how long it will take before returning to a more stable financial life. During this time, thinking of getting another loan might even seem futile. However, there’s still hope, thanks to mortgage companies that deal with bankruptcies.
The process of getting a mortgage after bankruptcy can be a bit more time consuming than as a standard borrower, but it can be done with the right information. If you want to apply for a loan to buy or build a home, or for other purposes, you might want to know how long it will take to apply, which companies offer mortgages for borrowers who have discharged bankruptcy, and what property types can a discharged bankrupt buy.
Can I apply for a mortgage aft…
Read the full article at: https://www.ratecity.com.au/home-loans/articles/finding-suitable-mortgage-lenders-discharged-bankrupts