Directors of the sandalwood company Quintis have called in administrators.
Quintis owns and manages more than 12,000 hectares of Indian sandalwood plantations across northern Australia.
The company had done a large planting regime in 2017 in Western Australia’s Kimberley’s Ord Irrigation Scheme and in the Douglas Daly Region of the Northern Territory.
Shares in Quintis have not traded since May and the company has decided to appoint KordaMentha as administrators.
It is expected that the McGrathNicol firm will be appointed as receivers in a matter of days.
In a statement, Quintis said Asia Pacific Investments on January 19 exercised an option for Q…
Read the full article at: http://www.abc.net.au/news/2018-01-21/sandalwood-company-quintis-appoints-administrators/9347190
Besieged sandalwood company Quintis has collapsed, rendering worthless the shares of thousands of investors.
Directors of the cash-strapped company said today they had called in administrators from KordaMentha following Fridays decision by a US fund manager to exercise an option demanding Quintis buy back $37 million of sandalwood plantations.
The company does not have the financial resources available to it to pay the put option price and the directors have therefore resolved to appoint Richard Tucker, Scott Langdon and John Bumbak of KordaMentha as voluntary administrators of Quintis and its Australian subsidiaries, Quintis said in a statement.
We are very disappointed with this outcome given the huge efforts made over the last nine month…
Read the full article at: https://thewest.com.au/business/quintis-collapse-investors-left-with-thousands-of-worthless-shares-after-company-calls-in-administrators-ng-b88720757z
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Abu Dhabi, UAESaturday 20 January 2018
Read the full article at: https://www.thenational.ae/uae/uae-helping-hands-parents-need-to-repay-dh100-000-debt-to-be-reunited-with-disabled-daughter-1.696893
HARBOUR GRACE, NL A man from Salisbury, England has begun to trace his family roots, and is now looking in small-town Newfoundland for some more clues.
Peter Corbin, 49, has spent his life in Europe under the impression that most of his family would hail from the region as well.
However, Corbin has recently taken it upon himself to track his familys history.
To his surprise, his research brought him across the Atlantic Ocean, all the way to Carbonear and Harbour Grace, where he believes his great, great, great grandfather and other family members of that generation held fairly prominent positions within the community.
Corbin can trace his family back to the town of Poole in Dorset, England, where his grea…
Read the full article at: http://www.thewesternstar.com/news/englishman-hopes-to-fill-newfoundland-portion-of-family-tree-178875/
Macau authorities are tracking down almost HK$48 million worth of cash chips stolen from Wynn casino earlier this week, following the arrest of a debt-ridden croupier and his elderly relative in connection with the crime.
Four Wynn Macau chips were among banknotes and other items seized from the two suspects and shown to journalists at a police briefing in the former Portuguese colony on Friday.
The robbery one of the largest in the world’s biggest gambling hub took place at about 7 am on Tuesday.
…
Read the full article at: https://www.cnbc.com/2018/01/19/macau-police-hunt-for-hk48-million-in-gambling-chips-after-wynn-casino-robbery.html
HARBOUR GRACE, NL A man from Salisbury, England has begun to trace his family roots, and is now looking in small-town Newfoundland for some more clues.
Peter Corbin, 49, has spent his life in Europe under the impression that most of his family would hail from the region as well.
However, Corbin has recently taken it upon himself to track his familys history.
To his surprise, his research brought him across the Atlantic Ocean, all the way to Carbonear and Harbour Grace, where he believes his great, great, great grandfather and other family members of that generation held fairly prominent positions within the community.
Corbin can trace his family back to the town of Poole in Dorset, England, where his grea…
Read the full article at: https://www.gulfnews.ca/news/englishman-hopes-to-fill-newfoundland-portion-of-family-tree-178875/
A WIDOW with a gambling problem defrauded more than £53,000 from life insurance company Prudential after the death of her husband, a court heard.
Pensioner Susan Murphy failed to notify Prudential when her husband Albert Betts died in May 2003 and continued to receive £332 a month from his annuity policy, which should have ended on his death.
Murphy, 65, a retired legal secretary of Martin Street, Normanton, admitted defrauding a total of £53,894 from Prudential over a period of 13 years from May 2003 to October 2016.
The court heard Prudential conducted a review in September 2016 and discovered Mr Betts had died in May 2003.
Prosecutor, Amy Earnshaw, said that when Prudential asked Murphy for a copy of the death certificate she…
Read the full article at: https://www.yorkshireeveningpost.co.uk/news/widow-admits-53-000-insurance-firm-fraud-after-husband-s-death-normanton-pensioner-avoids-immediate-jail-1-8969233
The New Zealand and Australia arm of the international yoga festival Wanderlust has gone into liquidation owing an estimated $1.6 million.
Wanderlust’s chief executive said they were working to ensure the Taup event went ahead, but if it did not ticket holders would receive a full refund (file photo).
Photo: 123RF
The annual festival attracts thousands of yogis and is due to go ahead in Taup in March.
In the liquidators first report released yesterday, it said the shareholders chose to liquidate after being unable to recover from debts they incurred in 2016.
It said the company, Yoga Events Australia New Zealand Limited (YEANZ), could not secure enough sponsorship deals, and had too many paid staff on the books.
T…
Read the full article at: https://www.radionz.co.nz/news/national/348519/company-liquidation-sheds-doubt-on-taupo-yoga-festival
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CALGARY, Jan. 19, 2018 /CNW/ – Manitok Energy Inc. (“Manitok” or the “Corporation“) provides the following update of corporate activities related to various corporate matters and its proposed restructuring plan.
Under certain Collateralized Exchange Listed NotesTM (“CEL Notes“) issued by Manitok, Manitok was required to make an interest payment on November 15, 2017 (the “November Interest Payment“). Due to ongoing liquidity issues and limits on its access to its operating facility with its senior lender, Manitok’s board of directors (the “…
Read the full article at: http://markets.businessinsider.com/news/stocks/Manitok-Energy-Inc-Provides-Update-on-Corporate-Activities-Creditor-Protection-and-Restructuring-Intention-1013360758