The U.S. Department of Justice has asked a judge to appoint a federal trustee to take over an embattled Oregon mega-dairy, citing the owner’s drug use, gambling, out-of-control spending and pending criminal charges.
Lost Valley Farm, located near Boardman, supplies milk to the Tillamook County Creamery Association, which produces Tillamook Cheese, the Statesman Journ…
Read the full article at: https://www.miamiherald.com/news/business/article215241995.html
Dear Sir / Madam,
We would like to inform you that meeting of the 01st Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Thursday, 26th July 2018 at 10:00 A.M. at Mayfair Banquets, 254-C Dr. Annie Besant Road, Worli Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra.
You are requested to take the same on record.
Pdf Link:
Sterling Biotech Ltd. – Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article24475508.ece
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JetBlue announced a round of layoffs, buyouts, and a restructuring of positions on Friday afternoon.
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It did not specify how many jobs would be affected by the decision.
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The restructuring comes at a time when JetBlue is seeking to honour a goal set in December 2016, when it announced a plan to reduce operational costs by up to $US300 million a year by 2020.
On Friday, JetBlue announced a round of layoffs, buyouts, and a restructuring of staff in an effort to cut expenses to the tune of $US300 million.
In a statement to Business Insider, JetBlues Shelby Wallace said, To streamline how we work, we are moving certain teams and roles into new reporting structures and are eliminating …
Read the full article at: http://www.businessinsider.com/jetblue-announces-layoffs-buyouts-restructuring-2018-7
For four years, it has been hunting season in Ukraine. The hunter is the National Bank of Ukraine. And the countrys failing, undercapitalized, and often corrupt banks are the big game.
Ukraine agreed to clean up its corrupt banking sector in 2014 as one of the conditions for International Monetary Fund loans. Since then, it has declared more than 90 banks insolvent and confiscated their assets.
The state Deposit Guarantee Fund, which received the assets, paid out Hr 90 billion ($3.4 billion) to the banks depositors, a direct loss of state funds. But rampant bank fraud an…
Read the full article at: https://www.kyivpost.com/business/bank-liquidation-marred-by-lack-of-due-diligence.html
TOKYO — Japanese lawmakers on Friday night enacted controversial legislation legalizing gambling resorts, a move nearly two decades in the making.
The bill was expected to be passed earlier in the day, but the opposition camp threw up one last procedural roadblock: It introduced a no-confidence motion against the cabinet of Prime Minister Shinzo Abe in the lower house.
The bill had long been held up by concerns over gambling addiction. Several polls conducted by media organizations in the past month or so say a majority of the public did not want the bill passed during the current Diet session. In a Nikkei poll at the end of June, 53% of the respondents were of this opinion.
The no-confidence motion proved to be the final delay for a law t…
Read the full article at: https://asia.nikkei.com/Business/Japan-s-new-casino-law-sets-stage-for-global-bidding-war
Shui Ping Lee, also known as David Lee and David Shui Ping Lee, was the sole director of Goodwin Ichiban Limited (Goodwin). The company was incorporated in June 2011 and traded as Ichiban Noodle café and Ichiban Fusion from 184 Dumbarton Road, Glasgow.
In January 2017, Home Office Immigration Enforcement requested evidence of the document checks made in respect of an employee. As a result of that check, on 9 February 2017 Goodwin Ichiban was fined £15,000 for employing an illegal worker.
However, the company was unable to pay the fine and was placed into liquidation in October 2017.
Following the conclusion of the liquidation, the Insolvency Service investigated the companys failure and on 31 May 2018, the Secretary of State a…
Read the full article at: https://www.gov.uk/government/news/restaurant-boss-banned-after-company-hired-illegal-worker
Martin Baker was the sole director of C.J.M Tiling Limited (CJMT), which was incorporated in 2007 and traded as a construction company in Cradley Heath, West Midlands.
On 3 December 2015 and 4 March 2016, HMRC made unannounced visits to CJMT and identified the construction company had under-declared its VAT liabilities by failing to disclose all its sales.
Furthermore, an additional bank account was identified in which sales income was deposited. HMRC raised an officers assessment for additional VAT liabilities of £205,262 for the period June 2012 to December 2015, as well as applying civil penalties of £90,146 to the company.
CJMT later entered liquidation on 26 January 2017 owing £469,673 to creditors, including at least £34…
Read the full article at: https://www.gov.uk/government/news/construction-director-banned-for-failing-to-declare-sales-income
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Friday gave a go-ahead to the lenders’ meeting of debt-ridden Bhushan Power & Steel (BPSL), directing it to finalise a bid for the company.
Vacating its earlier stay, the appellate tribunal has directed the committee of creditors (CoC) of the company to consider the resolution plans submitted by three firms — Tata Steel, Liberty House and JSW Steel.
NCLAT has also directed the CoC to call all the three bidders, along with operational creditors and suspended board of directors, in the meeting.
The CoC would call for an urgent meeting to take the resolution plan for discussion and approval, said a two-member bench headed by Chairman Justice S J…
Read the full article at: https://www.firstpost.com/business/bhushan-power-steel-insolvency-nclat-allows-lenders-to-meet-and-finalise-bid-for-the-debt-ridden-company-4782011.html
A standover attack in which a man allegedly threatened to shoot off another man’s leg has been dismissed as the “fantasy” of a “crook” in a Canberra court.
Javarne Saipani, 25, is on trial in the ACT Supreme Court accused of showing the alleged victim a gun and threatening to “take off his leg” if he did not come up with money to pay off a large drug debt.
The court heard the threat was made as part of a convoluted situation, where a childhood friend of Mr Saipani had asked for his help, because he needed to pay up to his Sydney connections in a drug dealing business.
It was claimed Mr Saipani was asked to act as a standover man to extract money from the…
Read the full article at: http://www.abc.net.au/news/2018-07-20/alleged-victim-in-drug-debt-case-labelled-a-crook/10018946
Sumo Salad’s battle with landlords takes its toll, administrators in charge.
The battle with retail landlords has taken its toll on the Sumo Salad group which has been placed in the hands of voluntary administrators for the second time in a little over a year.
Morgan Kelly and Peter Gothard, of Ferrier Hodgson, have been given control over 85 stores in the healthy-alternative fast-food group.
The reasons for the move are understood to stem from legacy debts, but many analysts are also pointing to poor retail trading conditions and high rents impacting the viability of similar businesses.
The latest development comes on the heels of Sumo Salad co-founder and CEO Luke Baylis placing two Sumo Salad subsidiaries into volu…
Read the full article at: https://www.businessnewsaus.com.au/articles/sumo-salad-s-battle-with-landlords-takes-its-toll–administrators-in-charge.html
Scott D. Levin Appointed Interim President and Chief Executive Officer
Company Provides Update on 2018 Business Outlook
DOWNERS GROVE, Ill., July 19, 2018 (GLOBE NEWSWIRE) — FTD Companies, Inc. (Nasdaq:FTD) (FTD or the Company), a premier floral and gifting company, today announced that its Board of Directors has initiated a review of strategic alternatives focused on maximizing stockholder value. The strategic alternatives expected to be considered include, but are not limited to, a sale or merger of the Company, FTD continuing to pursue value-enhancing initiatives as a standalone company, a capital structure optimization that may involve potential financings, or the sale or other disposition of certain of the Companys businesses …
Read the full article at: https://globenewswire.com/news-release/2018/07/19/1539839/0/en/FTD-Companies-Inc-Announces-Review-of-Strategic-Alternatives-Corporate-Restructuring-and-Cost-Savings-Plan-and-Preliminary-Second-Quarter-Financial-Results.html
Australian food retailer SumoSalad has placed itself into voluntary administration in order to give the company some breathing space and help the owners restructure the business.
In a statement, the company revealed its management had placed the company into administration as part of a long-term strategy to restructure and extend the brand. However they stressed it was business as usual for the SumoSalad group of companies, with its 85 stores continuing to trade over the restructuring period, which is expected to take between 35 and 60 days.
SumoSalad chief executive officer Luke Baylis said in a statement SumoSalad is, in fact, growing in terms of retail sales, but legacy issues have presented challenges.
The business has some …
Read the full article at: https://www.smartcompany.com.au/industries/retail/why-sumosalad-has-placed-itself-into-voluntary-administration/
