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Specialist PV manufacturing equipment supplier Amtech Systems is restructuring its solar cell manufacturing equipment business with job losses after China-based
Prime Minister Malcolm Turnbull is standing by foreign aid spending amid outcry from drought-stricken farmers, politicians and local charities.One critic,
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.
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…
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…
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.
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…
The Commonwealth Bank of Australia (CBA) has been picked by the World Bank to develop and deliver a world-first bond trading platform on the blockchain.
Bonds are complicated and quite often boring – but they’re also a vital instrument in the financial mix that lets countries and corporations raise and shift around big pools of cash.
Australia’s largest bank says it’s latest blockchain foray will substantially streamline capital raising processes in the debt capital markets which are currently made up of a complex web of interconnected agents and intermediaries.
Naming the platform after its racy hometown beach, the Bond-i (Blockchain Offered New Debt Instrument) platform was developed at CBA Innovation Labs …
Katie Price is hit by claims she ‘has a room full of unopened parcels after spending THOUSANDS funding online shopping obsession’ amid her financial crisis
Katie Price has been hit by claims that she has ‘spent thousands on her online shopping addiction, amassing a room full of unopened parcels’, reports …
NEWCASTLE and Wyong feature heavily in personal bankruptcy figures that show bankruptcies across the country are growing at a rate of almost six per cent a year, well above our population growth of under two per cent.
June quarter figures released this week by the federal governments Australian Financial Security Authority show Wyong topping the personal insolvency table with 89 people, followed by Penrith with 78 and Campbelltown with 71.
Wyong is classified by the authority as part of greater Sydney. Outside of Sydney, Newcastle had the most bankruptcies with 49, followed by East Lake Macquarie with 46 and Shoalhaven with 44.
Looking nationally, the authority counted 31,859 new personal insolvencies in Australia in the financial year ende…
The lighting and electronics specialist HELLA is restructuring its aftermarket business. HELLA will thus align its aftermarket activities even more consequently along its own original equipment competencies especially in the areas of lighting and electronics while closely linking them to the companys great workshop equipment expertise. In this context, the successful repair solutions business will be further expanded in the areas of diagnostics and calibration. On August 1, 2018, HELLA has simultaneously established its new Mobility Solutions business unit for tapping into new digital business models. The already ongoing activities will be integrated into this area.
With our restructuring of the aftermarket busines…
Supreme court had earlier reserved its order on “interim reliefs” sought by various stakeholders (File)
New Delhi:
In a setback to the Jaypee group, the Supreme Court today 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 today.
The bench, also comprising of Justices AM Khanwilkar and DY Chandrachud, said the Rs 750 crore deposited by the Jaypee Infratech Ltd in the top court shall be transferred to NCLT Allahabad.
MONTREAL, Aug. 9, 2018 /CNW Telbec/ – BioAmber Inc. (OTCPK: BIOAQ) announces that following a court order issued on July 31, 2018, the company, along with its monitor, PricewaterhouseCoopers (PWC), has initiated a liquidation process pursuant to which offers will be solicited from liquidators and/or strategic buyers to proceed with the liquidation of the company’s assets or a recapitalization transaction with the goal of realizing the greatest value on behalf of the company’s creditors.
Binding offers from the liquidators or strategic buyers must be received by 9 a.m. on August 21st, 2018, and if acceptable offers are received, the company will seek to obtain court approval of the retained offer on August 28th, 2018 a…
