Dentsu Inc., parent company of Dentsu Aegis Network and agencies like mcgarrybowen, Carat, 360i, Merkle and Isobar, is considering a restructuring plan which would see it split into an operating company and a holding company.
Dentsu Inc. president and CEO Toshihiro Yamamoto announced the proposition today during a meeting of the companys board of directors. Implementation of the changes would be dependent on approval of shareholders at a meeting scheduled for March 2019.
Analyses of specific schemes will be based on a concept where the currently-existing Dentsu Inc. will be split into an operating company and a pure holding company, according to a release. The pure holding company will hold the shares of the post-split operati…
Read the full article at: https://www.adweek.com/agencies/dentsu-inc-considers-restructuring-operational-model-to-maintain-and-enhance-growth/
Going through a break-up can be difficult.
Kieran Hayler is broke and living with his nan after moving out of Katie Prices home two months ago following their break-up.
The 31-year-old is also said to be planning on selling his wedding ring, worth £1000, for £500 in order to make ends meet and to rid himself of the bad memories of his marriage with Katie.
The Sun reports that the ex-stripper feels he is unemployable after his public life with Katie, 40, and doesnt want to go back to stripping now that hes a father.
Katie, who married Kieran in January 2013, kicked him out of the house two months ago after he cheated on her multiple times.
Read the full article at: https://metro.co.uk/2018/08/10/kieran-hayler-broke-living-nan-moving-katie-prices-home-two-months-ago-7824992/
Artists and performers left tens of thousands of dollars out of pocket after the collapse of a Perth-based management firm have been told it is unlikely they will see any of the money owed.
Perth-based event promoters JumpClimb, who were responsible for booking acts at the wildly popular Perth Fringe Festival and running other large-scale festival events, such as the Beaufort Street, BeauVine Food and Wine and Kegs by the Key festivals, went into liquidation in May.
Directors Paul Fletcher and Aaron Rutter were behind the Noodle Palace venue at the Perth Fringe.
Read the full article at: http://www.abc.net.au/news/2018-08-10/collapse-leaves-perth-fringe-performers-owed-thousands/10104844
We wish to bring to your notice that the Corporate Insolvency Resolution Process initiated against the Company has been dismissed and thereby withdrawn vide order dated 07.08.2018 by Honourable National Company Law Appellate Tribunal, New Delhi which was uploaded on NCLAT website on 10.08.2018. Relevant extracts of the order is reproduced below:
Quote
…………………………. The application preferred by Respondent under Section 9 of the I&B Code, 2016 is dismissed as withdrawn. The Corporate Debtor is released from all the rigour of law and is allowed to function independently through its Board of Directors from immediate effect.
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The parties are directed to comply with the terms and conditions on the b…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/orissa-minerals-development-company-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article24657283.ece
This is to inform you that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we hereby inform you that:
The Honble National Company Law Tribunal Bench at Chandigarh vide its order dated 08.08.2018 has passed order in respect of Liquidation of Supreme Tex Mart Limited a company which was under CIRP vide order dated 29.09.2017.
A copy of the order and Form B (Public Announcement as prescribed under Regulation 12 of the Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016) is enclosed.
Pdf Link:
Supreme Tex Mart Ltd. – Corporate Insolvency Resolution Process (CIRP)-Public Announcement
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/supreme-tex-mart-ltd-corporate-insolvency-resolution-process-cirp-public-announcement/article24655371.ece
Further to our letter No. PECL/NS/LEGAL/BSE-NSE/2018 dated 11th April, 2018 enclosing therewith copy of the Order dated 23.03.2018 passed by the Honble NCLT, Mumbai Bench, appointing CA Rajeev Mannadiar, having IP Regn. No. IBBI/IPA-001/IP-P00212/2017-18/10412 as the Interim Resolution Professional , please find attached herewith certified copy of the Order dated 6.08.2018 issued by the Honble NCLT appointing Mr. Udayraj Patwardhan, as the Resolution Professional having IP Registration No. IBBI/IPA-001/IP-P00024/2016-17/10057 who will be replacing CA Rajeev Mannadiar with immediate effect.
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/petron-engineering-construction-ltd-corporate-insolvency-resolution-process-cirp-replacement-of-interim-resolution-professional-irp/article24655130.ece
Specialist PV manufacturing equipment supplier Amtech Systems is restructuring its solar cell manufacturing equipment business with job losses after China-based customers have pushed-out capacity expansion plans after government cuts were made to downstream solar installation targets as deployments far exceeded goals.
Fokko Pentinga, Chief Executive Officer of Amtech said, In our solar business, recent changes in China’s domestic solar policies have slowed cell capacity expansion plans. However, we believe follow-on orders for the next phases of the large 1 GW+ turnkey project will be received in the next few quarters and look to participate in other selective growth opportunities as we serve core customers over the long te…
Read the full article at: https://www.pv-tech.org/news/amtech-restructuring-solar-business-as-chinese-cell-producers-delay-expansi
House of Fraser is appointing administrators, putting more than 17,000 jobs at risk, after attempts to agree a rescue deal failed.
The department store chain said talks with its investors and creditors had not concluded in a solvent solution. The administration is due to be arranged at a court hearing early on Friday morning.
The company said its proposed administrator, Ernst & Young, planned to keep the business trading while it attempts to arrange a sale. The chains 59 stores are due to open on Friday, including 31 scheduled for closure as part of an earlier restructuring plan.
House of Fraser traces its origins back to 1849, when Hugh Fraser and James Arthur opened a drapery shop on the corner of Argyle Street and Buchanan St…
Read the full article at: https://www.theguardian.com/business/2018/aug/10/house-of-fraser-calls-in-administrators-as-rescue-talks-fail
Prime Minister Malcolm Turnbull is standing by foreign aid spending amid outcry from drought-stricken farmers, politicians and local charities.
One critic, Brian Egan from charity Aussie Helpers, says he’s asked every day why so much money heads overseas, while One Nation leader Pauline Hanson has called for aid to be redirected to rural areas.
Mr Turnbull says foreign aid, which is about 0.8 per cent of the budget, is an important part of Australia’s diplomacy.
“We have been criticised for not increasing it to higher levels,” he told Mix radio in Perth on Friday.
The federal government announced $12,000 in grants for each affected farming family, as 100 per cent of NSW was this week declared impacted.
Agriculture Minister David Littlepro…
Read the full article at: https://www.begadistrictnews.com.au/news/national/5577657/foreign-aid-for-diplomacy-pm-to-farmers/
In a setback to the Jaypee group, the Supreme Court on Thurssday, August 9, 2018, asked the National Company Law Tribunal (NCLT), Allahabad, to deal with the insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding process.
A bench headed by Chief Justice Dipak Misra said the limitation period of 180 days to conclude the insolvency proceedings will commence from Thursday, August 9, 2018.
The bench, also comprising Justices A.M. Khanwilkar and D.Y. Chandrachud, said the 750 crore deposited by the JIL in the apex court shall be transferred to NCLT Allahabad.
The top court also allowed the Reserve Bank of India (RBI) to direct the banks to initiate separate insolv…
Read the full article at: https://www.thehindu.com/business/Industry/sc-asks-nclt-to-deal-with-insolvency-proceedings-against-jaypee-group/article24640276.ece