Village Roadshow has a mountain of debt which it needs to pay down as quickly as possible.
In a statement to the market, the entertainment company said its shares were currently in a trading halt to allow it to “provide information about a potential capital raising”.
Its temporary suspension from trading is expected to lift on Wednesday, or earlier if the company makes its announcement before then.
The company is expected to issue more shares to help reduce its $305.3 million worth of debt, as at December 31.
To highlight the magnitude…
Read the full article at: http://www.abc.net.au/news/2018-07-09/village-roadshow-trading-halt-debt/9958514
This is to inform that in response to the Expression of Interest (EOI) published on 15th June, 2018, inviting prospective Resolution Applicants to submit Resolution Plan for the Company, two entities viz., M/s BSL Engineering Services DMCC, UAE., and M/s RPMG Investment LLC, UAE., have submitted their EOI as on the last date of receipt of EOI, i.e., 07/07/2018. The Committee of Creditors is scheduled to meet on 13th July, 2018 to finalize the Evaluation Matrix and other bidding norms. The said Resolution Applicants will be provided Evaluation Matrix by 16th July, 2018 and the last date for submission of Resolution Plan has been kept on 17th August, 2018.
Pdf Link:
Petron Engineering Construction Ltd. – Corporate Insolvency Resolutio…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/petron-engineering-construction-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article24369865.ece
An astounding 77 per cent of SMEs reported being happy to work as a business owner for their entire working career, but many don’t realise how short lived their working career might be, a new survey has found.
A recent survey of over 2,000 ServiceSeeking users found that a vast majority are operating at the very edge of solvency.
Of the owners surveyed, 62 per cent had no rainy-day fund and of those that had one, 59 per cent had less than $5,000 in it.
It also found that 32 per cent could only stay afloat for a month in the case of a downturn in the economy. A further 25 per cent could stay afloat for up to three months.
Registered bankruptcy trustee, Aravanis, said bankruptcy doesnt discriminate by lifestyle but it can strike some professi…
Read the full article at: https://www.mybusiness.com.au/finance/4611-most-smes-have-too-little-reserve-capital-face-bankruptcy
* September 2013: splits from Erica, the wife of his three young children.
* May 2014: captured by paparazzi brawling with close friend and then-Nine Entertainment chief executive David Gyngell
* December 2015: pays older sister Gretel a reported $1.25 billion to settle the terms of their father Kerry’s will. Steps down from Crown board to focus on the casino operator’s development projects.
* October 2016: breaks off nine-month engagement with US singer-songwriter Mariah Carey. The same month, 19 past and present Crown employees are detained in Shanghai, China.
* April 2017: pulls out of the Hollywood business RatPac, which he created in 2013 with producer-director Brett Ratner.
* May 2017: Crown pulls out of Macau, directing the $1.3 bill…
Read the full article at: https://www.news.com.au/finance/business/breaking-news/the-turbulent-recent-times-of-james-packer/news-story/9ff7b0b52563b93fd929ebdc2272d28d
Its safe to say that bike-sharing companies in Australia havent had the smoothest ride over the past 12 months.
From unhappy local councils, to Melbournes former Lord Mayor declaring their bikes clutter, and users across the country gleefully dumping bikes in rivers, up trees, and on top of buildings, companies such as oBike and Ofo have found themselves at the back of the peloton.
Recently oBike, the most prominent (or infamous) of this new raft of bike-sharing startups announced it would be pulling its bikes out of Melbourne. The announcement follows a crackdown by the Environment Protection Authority (EPA), which would have seen oBike pay fines of up to $3,000 if a discarded oBike blocked a street for more than two hours.
The…
Read the full article at: https://www.smartcompany.com.au/industries/transport-logistics/obike-pulls-out-of-melbourne-and-enters-liquidation-in-singapore-why-hasnt-bike-sharing-kicked-off-in-australia/
The start of trade hostilities between the U.S. and China accentuates an important underlying theme in China’s own economy and the way it affects the world.
A big tussle is taking place within China that the leveling of tariffs by Washington and Beijing can only aggravate. That struggle is the effort by China to slow credit significantly: Enough to squeeze the shadow banking industry and rein in debt at state-run firms, but not so much that it causes a slump in overall growth.
Getting the balance right is tricky. Few countries manage to pull off soft landings, and trade conflict makes the task even trickier. China’s size means its domestic choices ricochet beyond its shores. If ev…
Read the full article at: https://www.bloomberg.com/view/articles/2018-07-08/trade-war-muddles-china-s-battle-to-curb-debt
At the height of the mad cow disease scare, from the confines of his prison cell, former “young businessman of the year” Martin Evans came up with an audacious ostrich-meat scam which robbed some pensioners of their life savings.
Before he became a drugs kingpin, smuggling millions of pounds worth of cocaine and ecstasy pills into the UK, Evans set up his bizarre scam with his wife.
It was while he was serving time for a deception conviction, stemming from his years running his double-glazing business, that he dreamt up the scam . During the BSE scare ostrich meat was seen by many as a low-fat and safe alternative to beef and lamb.
He saw it as an opportunity to make money and shortly after his release from prison, he launched an …
Read the full article at: https://www.mirror.co.uk/news/uk-news/story-one-time-double-glazing-12878535
Habits are hard to break. Americans tamed their use of credit cards post-recession, but theyve fallen off the wagon. According to a Lending Tree analysis of new Federal Reserve data, Americans are set to amass $4 trillion in consumer debt which includes non-mortgage debts such as personal loans, auto loans and student loans in addition to credit card balances by year-end. Collectively, they owe more than 26 percent of their income on consumer debt, up from 22 percent eight years ago.
Many people deep in debt are searching for solutions. Is debt consolidation a good option?
With consolidation you combine multiple debts, and ideally reduce the number of creditors…
Read the full article at: https://www.newsday.com/business/debt-consolidation-credit-card-bankruptcy-1.19616951
Just over a year since Bali’s iconic Ku De Ta first opened its doors in Perth, it has entered into voluntary administration.
The business opened in March 2017 under the guidance of co-owner and founding director Guy Neale and executive chef Liam Atkinson.
The entrance to Ku De Ta Perth.
Photo: Supplied
The opening of the restaurant was highly anticipated and the $6 million building became a staple of its riverfront location at the Point in East Perth.
However Ku De Ta filed a notice of an appointment for administrator with KPMG on Friday.
Matthew David Woods, Hayden Leigh White and Clint Peter Joseph have been appointed as administrators.
Read the full article at: https://www.watoday.com.au/national/western-australia/we-as-a-kitchen-have-decided-to-walk-away-ku-de-ta-perth-enters-voluntary-administration-20180708-p4zq6z.html
LA JOLLA, Calif., July 5, 2018 /PRNewswire/ — Regulus Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs, today announced a strategic update and corporate restructuring. With the goal of extending its cash runway, Regulus has taken the following steps: recruitment activities for the RG-012 clinical program in Alport syndrome have been paused while discussions with Sanofi to potentially restructure the partnership are ongoing; preclinical research efforts will be focused on its Hepatitis B virus (HBV) programs; and a workforce reduction of approximately 60% is being implemented. These actions are anticipated to yield over $20 mil…
Read the full article at: https://www.prnewswire.com/news-releases/regulus-announces-strategic-update-and-corporate-restructuring-300676710.html
If its not possible to cut back on major expenses, then you need to take a look at your smaller expenses, says Berger.
Go through the list of expenses in your 50 percent bucket and ask yourself: Do I need this? Can I get rid of it, or can I somehow lower it?
If you havent checked car insurance rates in three years [for example] maybe you should shop around for better car insurance, says Berger.
Youll also need to examine the expenses in your 30 percent bucket to see what you tend to waste money on the most, he says. For some people, that may be clothes, for others, electronics or eating out. Berger suggest creating a mini-budget that will prevent you from overspending on your lifestyle habits. For instance, if you tend to splurge on dining …
Read the full article at: https://www.nbcnews.com/better/business/how-50-20-30-rule-can-help-you-get-out-ncna889476
It’s the iron ore mine that has spent more time under water than in production. The Cockatoo Island mine sits off the remote West Kimberley coast, 2,000km north of Perth.
The mine’s main deposit sits below sea level, behind a seawall.
Constant maintenance and dewatering is needed to prevent more seawater from seeping in, costing about $1 million a month to maintain.
The pit currently resembles a giant swimming pool, after funding from a potential Chinese backer needed for a final sale evaporated.
Former owner Pluton Resources went into administration in 2015, and receiver Pitcher Partners has been trying to sell the mine since.
“It took us eight months to pump the water out, [it] took six weeks to fill back up,” chairman Bryan Hughes sa…
Read the full article at: http://www.abc.net.au/news/rural/2018-07-07/new-hope-for-wa-cockatoo-island-iron-ore-mine/9949968