Insolvency Guardian Media Centre
* New holding company may not be 100 pct state-owned
* Enedis capital could be opened to private investors (Adds detail)
By Geert De Clercq
PARIS, April 15 (Reuters) – French utility EDF will kick-off its restructuring plan with a May 28 board meeting to discuss plans for a partial renationalisation of the state-controlled utilitys nuclear activities, Le Parisien newspaper reported on Monday.
State holding company APE chief Martin Vial and a finance ministry official confirmed that the boards strategy committee would review a restructuring plan for the firm on May 28, Le Parisien reported.
It added that on June 7, the plan – codenamed Project Hercules – would be presented to 200 top managers and on June 20 to union representatives.
APE w…
Read the full article at: https://www.reuters.com/article/edf-restructuring/update-1-edf-board-to-review-restructuring-plan-on-may-28-le-parisien-idUSL5N21X0N1
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When Samantha Wills announced in August 2018 that she was shutting the doors of her global jewellery empire, it left her millions of fans stunned.
But this wasnt just another Aussie label buckling under the apocalypse that was sweeping the Australian retail sector.
The eponymously named Samantha Wills jewellery brand wasnt cash-strapped by any means: iconic pieces designed by Wills had graced the screens of millions through Sex and the City and had famously been worn by Hollywood A-listers such as Eva Mendes, Taylor Swift, and Pink.
But, after t…
Read the full article at: https://au.finance.yahoo.com/news/samantha-wills-went-80000-debt-global-jewellery-empire-014921478.html
Disclosure of List of Creditors of SRS Limited displayed under Regulation 13(2)(c) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 pursuant to Regulation 30 read with Clause 16(e) of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018
Pdf Link:
SRS LTD. – Corporate Insolvency Resolution Process (CIRP)-List of Creditors
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/srs-ltd-corporate-insolvency-resolution-process-cirp-list-of-creditors/article26841794.ece
PARIS, April 15 (Reuters) – French utility EDF will kick off its restructuring plan with a May 28 board meeting to discuss plans for a partial renationalisation of the state-controlled utilitys nuclear activities, Le Parisien newspaper reported on Monday.
The paper said that state holding company APE chief Martin Vial and a finance ministry official had confirmed that the boards strategy committee would review a restructuring plan for the firm on May 28.
It added that on June 7, the plan – codenamed Project Hercules – would be presented to 200 top managers and on June 20 to union representatives.
The French government said in November it would consider boosting its stake in EDF and possibly create a new parent company with subsidiaries. …
Read the full article at: https://www.reuters.com/article/edf-restructuring/edf-board-to-review-restructuring-plans-may-28-le-parisien-idUSL5N21X0M3
Another Auckland construction business has gone into liquidation, sparking a dispute over work in Ponsonby, but an ex-director of the builder says no money is owed.
Companies Office records show BHSSR, previously called MR8 Construction, went into voluntary liquidation today, in the hands of Waterstone Insolvency.
“Established with 25 years of industry experience, MR8 Construction is a true representation of an innovative and energetic company clearly reflected in the success of its growth,” its web site says.
“MR8 Construction specialises in the construction of multi-unit developments, high-density residential, light commercial, fitouts and industrial construction.”
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One creditor said $50,000 was outstanding for…
Read the full article at: https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12222543
Prominent Queensland-based co-working space and business incubator Little Tokyo Two has been placed into voluntary liquidation, with founder and entrepreneur Jock Fairweather sending a message to members and supporters saying the business had become unsustainable.
Founded four years ago, Little Tokyo Two (LT2) had five locations across Brisbane and the Gold Coast, which primarily offered a co-working space service to startup founders and aspiring entrepreneurs. However, the business had also recently expanded into offering incubation services and growth plans for startups.
In the message, Fairweather said while the incubation offerings had performed well, the co-working model had become unprofitable and criticised new market entrants fo…
Read the full article at: https://www.smartcompany.com.au/startupsmart/news/little-tokyo-two-collapses/
Of the total admitted claims of Rs 1.42 trillion in the 88 companies that have undergone successful Corporate Insolvency Resolution Process (CIRP), about Rs 68,766 crore has been realised by the claimants, including operational and financial creditors, an affidavit by the Insolvency and Bankruptcy Board of India (IBBI) shows.
The said affidavit by the IBBI had been filed at the National Company Law Appellate Tribunal (NCLAT). The numbers in the affidavit contain data until February 28. Business Standard has seen a copy of the affidavit.
During a hearing in the ongoing CIRP of Essar Steel India Limited, the appellate tribunal had on March 27 asked the IBBI to submit the details of the…
Read the full article at: https://www.business-standard.com/article/finance/creditors-recover-nearly-half-of-total-claims-of-rs-1-42-trn-shows-data-119041400633_1.html
A winding up application for Nawi Island Limited has been filed in the Suva High Court.
Filed by PricewaterhouseCoopers, the application for winding up was made on March 4th.
The case will be heard in the Suva High Court on May 1st.
The winding up of a company (also known as liquidation) is the process by which a companys assets are collected and sold in order to pay its debts.
Nawi Island Limited is currently undertaking a multi-million dollar project at Nawi Island, in Savusavu Bay.
The project involves the construction of an adjoining resort and spa, marina, private villa lots, yacht club and a dry dock.
Recently the company has been under scrutiny for the removal of about 23 acres of mangroves o…
Read the full article at: https://www.fbcnews.com.fj/news/court/liquidation-application-filed-in-court-for-multi-million-dollar-project/
The Gambling Commission is investigating claims that the online casino company LeoVegas accepted 20,000 from a problem gambler who had stolen the money from his mother, and then bombarded him with emails encouraging him to keep betting.
Details of the case, uncovered by the Guardian, sparked renewed calls from campaigners and politicians for gambling companies to perform more rigorous checks before customers place bets.
The recovering addict, who is receiving treatment but could still face prosecution, had his account locked by LeoVegas in May 2018 after a customer service employee flagged up concerning communication during a live webchat.
The account was suspended days after LeoVegas received a 600,000 penalty from the Gambling Commiss…
Read the full article at: https://www.theguardian.com/society/2019/apr/14/online-casino-goaded-addict-user-gamble-leovegas
Two years after the much-touted Insolvency and Bankruptcy Code 2016 (IBC) was implemented, slow progress of cases is becoming a cause for concern. High profile, large accounts such as that of Essar Steel, which has been undergoing resolution for over 600 days, bring to the fore the grave issue of excessive delays in the process.
Many banks had factored in substantial recoveries from accounts filed for insolvency under IBC in the March 2019 quarter. Resolution of many of these cases have now been pushed into fiscal 2020.
What is leading to the undue delays in the IBC process? Can the Code, having evolved over the past two years, start delivering time-bound resolution, as expected at the outset?
We break down the IBC conundrum into several p…
Read the full article at: https://premium.thehindubusinessline.com/portfolio/big-story/the-ibc-conundrum/article26834830.ece
Westpac has announced changes to the way it addresses customers wealth and insurance needs.
Westpac chief executive, Brian Hartzer, said: We are committed to supporting our customers insurance, investment and superannuation needs as part of our service strategy. The changes were announcing today are about focusing our investment where we have genuine competitive advantage and growth opportunities.
The group says the changes reflect its commitment to supporting customers through their financial lives, while responding to the changing external environment.
In summary the group is:
Realigning its major BT Financial Group (BTFG) businesses into the Consumer and B…
Read the full article at: https://m.brokernews.com.au/news/breaking-news/major-announces-business-restructure-261413.aspx
Potential new home owners have been left out of pocket or facing delays as home builder Mega Homes faces a push to wind up the company.
Creditors in the building industry are claiming to be owed sums as high as $480,000 each by the builder, Victorian Supreme Court filings show.
It follows the liquidation two years ago of the Victorian arm of Watersun Homes, WSH Group, with The Age reporting at the time that the administrators had reached an agreement with Mega Homes and another group known as VM Builders to contact former customers.
The Williamstown-based companys website has been taken down and replaced with a message saying the group was not taking on any new enquiries and suggesting existing customers call head office.
Dom…
Read the full article at: https://www.domain.com.au/news/builder-mega-homes-faces-attempt-to-wind-up-the-company-818527/