Insolvency Guardian Media Centre
TWO Sunshine Coast supermarkets have closed after the business went into liquidation just before the Easter long weekend.
The Kawana Island Friendly Grocer and Forest Park Foodstore at Meridan Plains have been listed on the Australian Securities and Investments Commission as in liquidation.
The company behind the stores, Yasnis Pty Ltd, is owned by Himanshu Patel, who moved to the Sunshine Coast from India in 2011 to make a better life for himself, his wife and two sons.
On Thursday, April 18, it was decided the company would be wound up after a general meeting, according to ASIC.
Mr Patel told the Daily in 2013 that the Kawana Island business was being harassed by out-of-control youths who taunted him with racist remarks …
Read the full article at: https://www.sunshinecoastdaily.com.au/news/two-coast-supermarkets-shut-doors-after-company-go/3709267/
TWO Sunshine Coast supermarkets have closed after the business went into liquidation just before the Easter long weekend.
The Kawana Island Friendly Grocer and Forest Park Foodstore at Meridan Plains have been listed on the Australian Securities and Investments Commission as in liquidation.
The company behind the stores, Yasnis Pty Ltd, is owned by Himanshu Patel, who moved to the Sunshine Coast from India in 2011 to make a better life for himself, his wife and two sons.
On Thursday, April 18, it was decided the company would be wound up after a general meeting, according to ASIC.
Mr Patel told the Daily in 2013 that the Kawana Island business was being harassed by out-of-control youths who taunted him with racist remarks …
Read the full article at: https://www.whitsundaytimes.com.au/news/two-coast-supermarkets-shut-doors-after-company-go/3709267/
Restaurateur Gaowei Shi, of Highbury, South Australia, has pleaded guilty to one charge of falsifying company books.
An ASIC investigation found that Mr Shi, director of The Crane Japan Restaurant (SA) Pty Ltd, a restaurant in Glenelg, South Australia, had redirected $47,000 from a purchase and sale agreement in December 2015 to sell assets of the company to East and West Venture Pty Ltd for $100,000.
Mr Shi redirected approximately $47,000 of the sale proceeds to his personal account.
ASIC found that Mr Shi falsified the companys bank statements to show that the $47,000 was deposited into the companys bank account.
The falsification was discovered after the company entered liquidation on 9 March 2016 and the liquidator, Peter Lanthois…
Read the full article at: https://www.accountantsdaily.com.au/business/12934-liquidator-uncovers-director-falsifying-company-books
CALGARY (660 NEWS) Would you want to go back to work at age 70 after youve already retired?
A debt help expert says many Canadians need to take a hard look at their mortgage and consumer debt before they retire.
Laurie Campbell, CEO of Credit Canada says for many seniors outliving their savings is a real fear.
The problem lies in the fact that once they retire, its very hard to get back into the workforce and so a lot of seniors are struggling and trying to figure out when they should retire or if they already have retired, how can they get back into the workforce.
READ MORE: Albertans carrying more debt than anywhere else in Canada: report
Campbell says a lot has changed financially over the years with savings rates being …
Read the full article at: https://www.citynews1130.com/2019/04/22/be-careful-with-your-debt-before-retiring-says-debt-expert/
Lampe said Weyerbacher was looking for a partner for the last 18 months as financial issues weighed on the business, a larger regional brewery competing in the saturated, capital-intensive craft beer industry. The restructuring, Lampe said, will allow Weyerbacher to accelerate certain projects, including opening tap rooms, boosting offerings from the Weyerbacher Spirits line and adding some contract brewing to maximize the Easton facilitys production potential.
Read the full article at: https://www.mcall.com/business/mc-biz-weyerbacher-brewing-files-for-bankruptcy-new-ownership-20190422-z2anpjwjgzgw7god5v3bbyi754-story.html
CALGARY A research report by AltaCorp Capital shows the number of companies actively drilling in Canada has declined by 40 per cent since the oil price crash of late 2014.
The analysis cites industry data which shows only 26 drilling contractorshave been working so far in 2019, 17 fewer than observed in 2014.
It says consolidation is the biggest reason companies have disappeared, with seven companies holding about 17 per cent of market share being purchased over the period, includingCanElson Drilling in 2015, Savanna Drilling in 2017 and Trinidad Drilling in 2018.
It says insolvencyremoved four companies although the market share held by those firms was just one per cent. Two companieswhichtogether heldabout one per cent o…
Read the full article at: https://www.citynews1130.com/2019/04/22/acquisitions-insolvencies-cited-as-drilling-company-count-tumbles-by-40/
Elizabeth Warren wants to wipe away student loan debt for the vast majority of Americans who have it, and make debt-free college a reality for new students.
In a new plan detailed on Monday, Warren became the first Democrat running for president in 2020 to detail a sweeping higher education plan with the goal of alleviating Americas $1.5 trillion student debt crisis.
Warrens plan is unique in that is would assist former and future college students alike. The plan would cancel up to $50,000 in student loan debt for an estimated 42 million Americans, and invest in debt-free college for students attending two- or four-year public institutions. It also comes with a hefty price tag of $1.25 trillion over 10 years. Warren plans to pay for i…
Read the full article at: https://www.vox.com/2019/4/22/18509196/elizabeth-warren-debt-free-college
WASHINGTON Senator Elizabeth Warren announced a plan Monday to cancel the student loan debt of tens of millions of Americans, making her the first major candidate in the presidential race to come out in favor of a large-scale student debt forgiveness plan.
Warrens plan would entirely wipe out the debt of 75% of Americans with student loans, according to an analysis by a group of student loan experts done on behalf of her campaign. It would cancel up to $50,000 in debt for people whose household income is less than $100,000, and wipe out smaller amounts of debt for people making under $250,000. Ninety-five percent of Americans with debt would see some forgiveness under the plan, the analysis said.
The entire cost of the plan, Wa…
Read the full article at: https://www.buzzfeednews.com/article/mollyhensleyclancy/elizabeth-warren-wants-to-cancel-student-loan-debt-for
Dear Sir,
This is in reference to the captioned subject.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 15th meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (the Company) was held on April 22, 2019 to discuss the agenda items stated in the notice of the meeting.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/uttam-value-steels-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article26911280.ece
Bulgaria won the arbitration case filed by the State General Reserve Fund of the Sultanate of Oman at the International Centre for Settlement of Investment Disputes (ICSID), part of the World Bank group, the Bulgarian National Bank (BNB) said on April 22.
The Omani fund filed its arbitration claim in October 2015, after it lost a 30 per cent stake in Bulgarias Corporate Commercial Bank (CCB), which was declared insolvent by court decision in April 2015.
The fund argued that Bulgaria was violated the terms of its agreement with Oman on foreign investor protection when it put CCB under the special supervision of the central bank in June 2014. It sought 80 million euro in compensation, BNB said.
As a result of the successful defence by the Bu…
Read the full article at: https://sofiaglobe.com/2019/04/22/bulgaria-wins-arbitration-case-filed-by-omani-fund-over-ccb-insolvency/
International law firm Proskauer announced that David Hillman will be joining as partner in its Corporate Department, beginning on April 29th in the New York office.
We are pleased to welcome David to Proskauer, said Martin Bienenstock, partner and chair of Proskauers Business Solutions, Governance, Restructuring & Bankruptcy Group. Davids acclaimed intellectual and practical prowess in formulating restructurings for creditors, many of which are Proskauer clients, is a perfect match with our restructuring practice.
Mr. Hillmans practice focuses on corporate restructuring, with an emphasis on the representation of secured creditors, ad hoc groups, hedge funds, buyers of distressed assets and other major stakeholders in Chapter 11 bankrup…
Read the full article at: https://www.globalbankingandfinance.com/proskauer-strengthens-business-solutions-governance-restructuring-bankruptcy-group-with-addition-of-david-hillman/
Notice is hereby given that in accordance with the applicable provisions of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate persons) Regulations, 2016, the first meeting of committee of creditors (CoCor Committee of Creditors) of Excel Glasses Limited, (the “Company”/the “Corporate Debtor”) will be held on Thursday, the 25th day of April, 2019 at 11.00 am in Mumbai at BKC Centre, 31-E Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai – 400053, Maharashtra
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/excel-glasses-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article26910663.ece