An Edmonton woman was jailed after admitting to running a shipping container fraud through her family’s business.
A woman who created a shadow company to fraudulently sell shipping containers out from under her mother-in-laws business was handed a 15-month jail sentence Monday.
Adelheid Ruth Baxter, also known as Heidi Baxter, admitted to profiting just over $153,000 by selling sea containers owned by her familys company Stankay Holdings between April 2013 and February 2014.
According to an agreed statement of facts entered with the court, Baxter, 57, was separated from her husband but still em…
Read the full article at: http://edmontonjournal.com/news/crime/shipping-container-fraudster-jailed-for-bilking-mother-in-laws-business
South Africa-based hospital chain Life Healthcare Group Holdings Ltd is looking to sell its 49.7% stake in Max Healthcare Ltd, Bloomberg reported citing persons aware of the development.
Last month, VCCircle first reported that Life Healthcare was looking to sell its stake in Max Healthcare. VCCircle also reported that Life Healthcare had emerged as a new potential strategic investor in Fortis Healthcare, the second-largest hospital firm by revenues and market value.
Investment bank Barclays PLC is given the mandate to find a buyer, the newswire reported.
Life Healthcare could seek a valuation of $406 million (Rs 2,578 crore) for its stake, the report cited a person as saying.
Launched in 2000, Max Healthcare is an equal joint…
Read the full article at: https://www.vccircle.com/tata-housing-and-lodha-eye-jaypee-infratech-varroc-plans-ipo/
Omega Sibanda
Eddie Chikamhi, Harare Bureau
AFTER weeks of incessant attacks during which their authority appeared to be challenged, Zifa have directed that all the associations members should fulfil their statutory obligations by registering their constitutions with the association to avoid any clashes.
Zifa vice-president Omega Sibanda yesterday told the media in Harare that it was imperative that all filate organs ilcuding clubs, lodged their constitutions with the association in lines wit the dictates of the soccer mother bodys statutes.
It is a statutory requirement that all affiliate bodies register their constitutions with the controlling body and Zifa on their part also lodge their statutes with the Sports Commission and Fifa to ensu…
Read the full article at: http://www.chronicle.co.zw/zifa-tighten-screws-on-statutes/
The Reserve Bank of India on Monday approached the Supreme Court seeking permission to initiate insolvency proceedings against Jaiprakash Associates (JAL), the parent company of Jaypee Infratech (JIL).
The move had more than 25,000 homebuyers of Jaypee Infratech in Noida and Greater Noida worried that if insolvency proceedings against JAL are allowed, who will deposit Rs 2,000 crore with the Supreme Court registry and ensure that homebuyers are refunded from the amount, sources told Moneycontrol.
The matter will come up for a hearing in the apex court on January 10.
In its application, the RBI has prayed that the Court may be pleased to allow the applicant to follow the recommendations of the IAC in accordance with the …
Read the full article at: http://www.moneycontrol.com/news/business/real-estate/rbi-seeks-supreme-court-nod-to-begin-insolvency-proceedings-against-jp-associates-2478123.html
Women’s clothing retailer Andrea Moore – which has stores in Auckland, Wellington and Christchurch – has gone into liquidation.
The Andrea Moore store in Wellington.
Photo: Instagram / Andrea Moore
McGrathNicol has been appointed as receiver.
Andrea Moore has traded as a registered business since 2004.
Managing director Brian Molloy said a perfect storm hit the company last year.
“Highly damaging late delivery, crippling creditor payment defaults and to cap it off extensive roadworks outside our retail stores in both Auckland and Christchurch constraining our passing trade for months on end,” he said.
But Mr Molloy said the company should also have consolidated and focused on parts of the business that were fut…
Read the full article at: https://www.radionz.co.nz/news/business/347719/clothing-retailer-andrea-moore-goes-into-liquidation
NEW YORK–(BUSINESS WIRE)–On Jan. 1, Norton Rose Fulbright promoted 10 lawyers to partner in the
United States. The new partners are: Beau Cox and Seth Isgur,
commercial litigation; Sumantha Rani Sedor, corporate and life
sciences; Brenda Hanzl and Becky Limmer, corporate, M&A
and securities; Mina Matin, financial institutions and insurance; Eric
Daucher and Ryan Manns, financial restructuring and
insolvency; Noah Pollak, projects; and Jarret Stephens,
real estate.
Daryl Lansdale, Norton Rose Fulbrights US Managing Partner, said:
We are incredibly proud of our 2018 partner class and would like to
congratulate each of them on…
Read the full article at: https://www.businesswire.com/news/home/20180108006458/en/Norton-Rose-Fulbright-Promotes-10-New-Partners
The government has announced relaxation in the provisions relating to levy of minimum alternate tax (MAT) in case of companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency and Bankruptcy Code, 2016.
The existing provisions of section 115JB of the Income-tax Act, 1961, inter alia, provide that for the purposes of levy of minimum alternate tax (MAT) in case of a company, the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account, shall be reduced from the book profit.
The decision follows representations received from various stakeholders that the companies against whom an application for corporate insolvency resolution proces…
Read the full article at: http://www.domain-b.com/economy/general/20180108_insolvent.html
Kardan NV (TASE: KRNV;AEX:KARD) is close to an agreement for the sale of its 98.4% holding in water infrastructures company Tahal Group to the Fortissimo Capital fund for $120-130 million (NIS 412-446 million). According to market sources, the deal can be expected to be signed within the next few days, subject to agreement on the final price and accompanying terms, this after the attempt to sell Tahal to Chinese buyers failed.
Nevertheless, the series B bondholders in Kardan NV and the trustee of the series, Hermetic Trust, may try to scuttle the deal. The trustees, who have been in constant touch with Kardan NV’s management, called a bondholders meeting for this afternoon to discuss the company’s situation and the action to be taken…
Read the full article at: http://www.globes.co.il/en/article-kardan-nv-selling-tahal-to-fortissimo-fund-1001218669
Source: BBBThe Better Business Bureau is warning Texomans about consolidating their debt. While there are companies who want to help, others are scammers trying to get your money.
Avoid any consolidator that charges fees before the debt is settled, or pressures you to make voluntary contributions.
They may discuss a new government program to help with the debt or tell you to stop talking to your creditors.
They may refuse to send free information about services they provide or try to enroll you in a program without discussing your financial situation.
The final red flag is a demand that you pay into a debt management program before creditors have accepted into the program.
Copyright 2018 RNN …
Read the full article at: http://www.newschannel6now.com/story/37217373/bbb-bureau-briefs-debt-consolidation
MUMBAI: The National Company Law Tribunal has sought Gujarat NRE Coke’s employee details as it is expected to deliver Tuesday its final order on the company’s liquidation, with no concrete plans of revival in the Rs 4,900-crore default case being reached before the clock ran out.
The resolution professional, Sumit Binani, has submitted his report to the Kolkata chapter of the dedicated bankruptcy court in the case in which the stipulated period of 270 days to hammer out a resolution plan is over.
Lawyers for the affected members of the staff argued that the court may order liquidation as a going business entity instead of shutting it down first to sell the company’s assets, said an executive who attended the court hearing….
Read the full article at: https://economictimes.indiatimes.com/markets/stocks/news/nclt-seeks-employee-details-from-gujarat-nre/articleshow/62420061.cms
REUTERS/Mike Segar
- GoPro on Monday announced a big restructuring plan that’s part of its effort to become profitable this year.
- The action-camera maker said it will lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman’s 2018 cash pay to $1.
- The company also lowered its fourth-quarter revenue forecast.
GoPro is cutting more than 250 jobs and leaving the drone industry in an attempt to return to profitability by the second half of this year.
In its preliminary fourth-quarter results released on Monday, the maker of action cameras said it is reducing its global workforce from 1,254 employees to fewer than 1,000.
The news sent its shares down 23% in early trading.
Demand…
Read the full article at: http://markets.businessinsider.com/news/stocks/gopro-cuts-jobs-guidance-ceo-compensation-2018-1-1012666320