Dec 14 (Reuters) – Australian casino operator Crown Resorts said on Thursday it has signed several divestment deals as part of its ongoing debt reduction strategy, including the …
Read the full article at: http://www.kitco.com/news/2017-12-14/Australia-apos-s-Crown-Resorts-signs-several-divestment-deals-to-reduce-debt.html
Dec 14 (Reuters) – Australian casino operator Crown Resorts said on Thursday it has signed several divestment deals as part of its ongoing debt reduction strategy, including the sale of its interest in a Las Vegas site for $300 million to a unit of Wynn Resorts Ltd.
The company said in a statement it expects gross proceeds of $264 million from the sale of the Las Vegas site.
Crown has been retreating from a decade-long foray into the global gaming hub since 18 staff were arrested for gambling crimes in China last October amid a broader crackdown on corruption. (Reporting by Christina Martin in Bengaluru; Editing by Muralikumar Anantharaman)
Read the full article at: https://www.reuters.com/article/crown-resorts-divestiture/australias-crown-resorts-signs-several-divestment-deals-to-reduce-debt-idUSL4N1OE2M4
Sub-contractors affected by a prominent local building companys financial woes appear set to receive some monetary relief.
Edwards Constructions (NSW) Pty Ltd – which was building the new Bellambi Bunnings – went into administration in October.
An administrator at the time estimated that the company owed between $4 million and $6 million of creditors.
More than 200 creditors are reportedly affected.
However, the building contractor will emerge from administration after having secured the support of creditors earlier this week for a proposal for directors to maintain $3.3 million in ongoing support.
Under the proposal, known as a deed of company arrangement (DOCA), sub-contractors and other unsecured creditors will receive payments from…
Read the full article at: http://www.illawarramercury.com.au/story/5122187/illawarra-company-edwards-constructions-now-seeking-to-rebuild/
- A former bodyguard to celebrities Bella Thorne and Scott Disick was sentenced to four years in prison by a federal court in Brooklyn on Wednesday
- Igor Krugly, the owner of Pitbull Security, will serve time in prison after he was convicted of running an illegal gambling operation
- Krugly has been photographed in the past escorting the likes of Thorne, Disick, and Kendall Jenner to various locations
- The 38-year-old Krugly was part of a group of individuals with links to Eastern European criminal figures in Brooklyn
Ariel Zilber For Dailymail.com
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…Read the full article at: http://www.dailymail.co.uk/news/article-5177689/Bodyguard-stars-gets-prison-running-gambling-den.html
Credit: NBN
National Broadband Network (NBN) retail service provider (RSP), Tellnet, has been placed into liquidation owing $330,000 to secured and unsecured creditors.
Tellnet registered with the Australian Securities and Investments Commission (ASIC) in August 2013. It offers NBN plans for both business and personal use. For business users, Tellnet also offers a full range of hosted telephony solutions.
Paul Vartelas, from BK Taylor & Co, was appointed liquidator on 30 November. He was appointed after a general meeti…
Read the full article at: https://www.arnnet.com.au/article/631202/nbn-reseller-enters-liquidation-owing-330k/
Teva Pharmaceutical Industries Ltd. will relocate or shut down most of its manufacturing operations in Israel, according to a document reviewed by Calcalist and people familiar with the matter who spoke on condition of anonymity. The company’s plans in Israel are part of the wider global restructuring strategy announced by the company late November. The company intends to implement the plan in the next few months, in the hope of presenting significant cost cuts in its earnings report for the first quarter of 2018, according to the document.
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Following a late-night board meeting, the company has decided to let go over half of its Israeli workforce, cutting…
Read the full article at: https://www.calcalistech.com/ctech/articles/0,7340,L-3727309,00.html
Credit: NBN
National Broadband Network (NBN) retail service provider (RSP), Tellnet, has been placed into liquidation owing $330,000 to secured and unsecured creditors.
Tellnet registered with the Australian Securities and Investments Commission (ASIC) in August 2013. It offers NBN plans for both business and personal use. For business users, Tellnet also offers a full range of hosted telephony solutions.
Paul Vartelas, from BK Taylor & Co, was appointed liquidator on 30 November. He was appointed after a general meeti…
Read the full article at: https://www.arnnet.com.au/article/631202/nbn-reseller-enters-liquidation-owing-330k/?fp=4&fpid=40
Berlin (AFP) – Austrian airline Niki said Wednesday that it would stop flying from Thursday after German giant Lufthansa gave up plans to buy it from bankrupt Air Berlin in the face of EU competition concerns.
Austria’s Niki in trouble as Lufthansa drops bid
Niki said earlier that it had applied to open insolvency proceedings following Lufthansa’s announcement that it had “informed Air Berlin and its insolvency managers that it will pursue the planned transaction without the purchase of Niki.”
The decision came after the European Commission said last week that it had “deep competition concerns” about the Frankfurt-based carrier’s plan to buy of 81 aircraft f…
Read the full article at: https://au.news.yahoo.com/a/38281461/austrias-niki-in-trouble-as-lufthansa-drops-bid/
WILMINGTON, Del. (Reuters) – A U.S. judge shot down on Wednesday a request by creditors of Westinghouse Electric Co LLC for a bigger role in the nuclear technology companys bankruptcy just days after its parent company Toshiba Corp (6502.T) proposed a restructuring plan.
FILE PHOTO – The logo of the American company Westinghouse is pictured at the World Nuclear Exhibition 2014, the trade fair event for the global nuclear energy sector, in Le Bourget, near Paris October 14, 2014. REUTERS/Benoit Tessier U.S. Bankruptcy Judge Michael Wiles dismissed claims by the official committee of unsecured creditors that Westinghouse was not making progress in restructuring its debt.
The New York-based judge told a hearing that the creditors request to …
Read the full article at: https://www.reuters.com/article/us-toshiba-accounting-westinghouse/u-s-court-removes-creditor-hurdle-to-a-westinghouse-bankruptcy-plan-idUSKBN1E72SY
RBI had told banks to either resolve 28 stressed accounts by Dec 13 or refer them to NCLT by Dec 31.Bankers have set in motion the process of referring most of the 28 defaulters identified by the Reserve Bank of India in its second list to the National Company Law Tribunal (NCLT) for resolution under the Insolvency and Bankruptcy Code (IBC).
According to a banking source, as many as 25 companies will be referred to the NCLT. Another source said a list of only 23 companies will be forwarded now as lenders are in the process of finding a resoluti…
Read the full article at: http://indianexpress.com/article/business/banking-and-finance/banks-set-to-initiate-insolvency-proceedings-against-2-dozen-companies-4981585/
Austrian airline Niki said Wednesday that it would stop flying from Thursday after German giant Lufthansa gave up plans to buy it from bankrupt Air Berlin in the face of EU competition concerns.
Niki said earlier that it had applied to open insolvency proceedings following Lufthansa’s announcement that it had “informed Air Berlin and its insolvency managers that it will pursue the planned transaction without the purchase of Niki.”
The decision came after the European Commission said last week that it had “deep competition concerns” about the Frankfurt-based carrier’s plan to buy of 81 aircraft from Air Berlin’s 140-plane fleet plus Niki for 210 million euros ($250 million).
Air Berlin, Germany’s second-largest carrier, triggered ban…
Read the full article at: http://www.digitaljournal.com/news/world/austria-s-niki-in-trouble-as-lufthansa-drops-bid/article/509919
RBI had told banks to either resolve 28 stressed accounts by Dec 13 or refer them to NCLT by Dec 31.