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Defects and recladding claims worth $4 million in a second apartment project have been frozen after Melbourne builder Hickory’s subsidiary was placed into voluntary administration.
Owners of 105 apartments in the Anstey Square development in the inner northern suburb of Brunswick had commenced proceedings in the Victorian Civil and Administrative Tribunal seeking the rectification of defects but also replacement of the combustible polyethylene core panels covering the building.
But Hickory’s decision last month to put unit H Buildings into administration had the same effect on the Brunswick apartment owners as it did on a separate group of owners in a Richmond development also constructed by H Buildings it stopped the a…
Read the full article at: https://www.afr.com/real-estate/hickorys-h-buildings-administration-move-halts-second-apartments-cladding-claim-20180904-h14wep
Victorian boat builder bought out of liquidation by previous owners.
Victorian boat builder Evolution Boats says it is business as usual after its parent company, PM Marine Manufacturing, was put into liquidation last week.
Owner Paul Junginger told Marine Business that prior to PM Marine Manufacturing, of which he was the main shareholder, being put into liquidation, Evolution Boats was sold to a new company, PM Composites, also under his control, which was registered with the Australian Securities & Investments Commission just two weeks earlier.
As a result, Junginger said Evolution Boats is now back in business under the new ownership at the same premises and with the same staff. He said the new c…
Read the full article at: http://www.marinebusiness.com.au/news/business-as-usual-says-evolution-boats
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1. Introduction
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A former property tycoon who was once one of Britains richest men is a convicted rapist who has hidden his past for two decades, a court was told.
Simon Halabi, 60, was the UKs 14th richest man in 2007 with an estimated worth of £3 billion. His assets included the London headquarters of JP Morgan and a £30 million stake in the Shard.
The Syrian-born entrepreneur was hit by the credit crunch and was declared bankrupt in 2010 over a £56 million bank loan. He was later sued for divorce by his Lithuanian wife Urte.
It has now been revealed that a French court convicted him of raping a woman in her early 20s in 1998. French police reports state that he sl…
Read the full article at: https://www.thetimes.co.uk/article/bankrupt-property-tycoon-simon-halabi-hid-french-rape-conviction-0w7c5phlm
A FLIGHT school with a base at Leeds Bradford Airport has gone into voluntary liquidation.
Just two years ago PTT Aviation outlined its plans to become the premier pilot training and testing facility in the UK – with bases at Leeds Bradford, Newcastle and Durham Tees Valley Airports. At that stage it had a fleet of 30 aircraft and helicopters across the North and around 50 members of staff.
But this week the company went into liquidation and its aircraft have now been grounded.
In a recorded message the company says: The directors of the company have reluctantly taken the decision to place the company into creditors voluntary liquidation.
The date for liquidation has been given as September 3 and anyone wi…
Read the full article at: http://www.ilkleygazette.co.uk/news/16687880.voluntary-liquidation-for-flight-school/
A blunder by authorities allowed a billionaire rapist to travel the world with impunity after he used a different name on his passport, a court heard.
Simon Halabi, a property tycoon who was worth an estimated £3 billion in 2007 but declared bankrupt just three years later, was convicted of a violent rape in France in 1998.
Despite being handed a three-year prison sentence, suspended for five years, and being put on the French sex offenders list, Halabi flew around the world unchecked, conducting business deals which made him hundreds of millions of pounds.
He was able to do so because in France, he was convicted under the name Mohammed Halabi, rather than Simon Halabi, which appears on his British passport.
The conviction was disc…
Read the full article at: https://www.telegraph.co.uk/news/2018/09/04/billionaire-rapist-travelled-world-unchecked-blunder-uk-authorities/
A FLIGHT school with a base at Leeds Bradford Airport has gone into voluntary liquidation.
Just two years ago PTT Aviation outlined its plans to become the premier pilot training and testing facility in the UK – with bases at Leeds Bradford, Newcastle and Durham Tees Valley Airports. At that stage it had a fleet of 30 aircraft and helicopters across the North and around 50 members of staff.
But this week the company went into liquidation and its aircraft have now been grounded.
In a recorded message the company says: The directors of the company have reluctantly taken the decision to place the company into creditors voluntary liquidation.
The date for liquidation has been given as September 3 and anyone wi…
Read the full article at: http://www.wharfedaleobserver.co.uk/news/16687882.voluntary-liquidation-for-flight-school/
Farmers in South Australia will be better protected financially after recent legislation on mandatory farm debt mediation was passed in parliament.
According to Minister for Primary Industries and Regional Development Tim Whetstone, the new Farm Debt Mediation Act 2018 has brought South Australia in line with other states in its effort to support farmers.
South Australian farmers can get on with what they do best in contributing to the states prosperity through farming in the knowledge they have a safety net with farm debt mediation now required by law before a creditor is able to foreclose on a farming operation, Mr Whetstone said.
South Australias counterparts in the eastern states New South Wales, Victoria and Queensland already have f…
Read the full article at: http://www.murrayvalleystandard.com.au/story/5625927/farm-news-debt-mediation-grow-sa/
A year ago, she was a store manager at Toys R Us. Today, Anne Marie Reinhart Smith has become a minor online celebrity. Not to say that everyone knows her name, but shes become the lede for many a story (and now this one, as well) written about the stores recent bankruptcy and all of the employees they left high and dry (33,000, to be exact). Her history with the companyas well as the way it unceremoniously dropped her and thousands of othershints at a larger narrative about how the intersection of business and labor have changed over the years.
I worked there for 29 years, Smith tells me. She had been at the toy store through good times and bad, rising from human resources manager to store manager. When word cam…
Read the full article at: https://www.fastcompany.com/90227917/toys-r-us-private-equity-and-stagnant-salaries