Amcor chief executive Ron Delia says the packaging giant will be untroubled by the structural shifts in e-commerce as online giants such as Amazon upend traditional business models, with demand picking up for “smart” packaging.
He said on Tuesday consumer goods companies are increasingly asking for more protective packaging, better authentification and there is a growing appetite for “smart” packaging for fast-moving consumer goods.
“We think that plays to our strengths,” Mr Delia said. “E-commerce evolution, that’s still got a lot of room to unfold,” he said.
He emphasised Amcor was strongly positioned to keep delivering a 10 to 15 per cent increase in annual returns even in a world where economic growth was strugglin…
Read the full article at: http://www.afr.com/business/manufacturing/amcor-ceo-ron-delia-thrives-on-amazon-structural-shifts-20170821-gy10t2
National Company Law Tribunal (NCLT) is finding it difficult to get qualified judges to meet the growing demand of bad loan resolution cases filed by bankers and corporates.
The NCLT is adding new Benches and interviewing more judges to keep pace with the cases being admitted. But yes, it is becoming more challenging to get qualified judges. Though, we will be adding four judicial and eight technical members soon, a senior member of the NCLT said.
With the avalanche of insolvency cases and shortage of staff, it has become challenging for the corporate tribunal to deal with the resolution process.
In the existing two courts at the Mumbai NCLT, over 100 cases are listed to be heard every day. This has risen by almost five tim…
Read the full article at: http://www.moneycontrol.com/news/business/nclt-is-finding-it-tough-to-get-qualified-judges-for-insolvency-cases-2366065.html
The National Company Law Appelate Tribunal (NCLAT) has dismissed an appeal by builder Neelkanth Township against bankruptcy proceedings, saying its reference to a 1963 law that prescribes a time limit to initiate recovery of loans is not applicable.
The decision may allow small-ticket lenders to recover their money.
Several operational and smallticket lenders who had thrown in the towel because they did not approach a court within a set time period as prescribed by the Law of Limitation can now use the Insolvency and Bankruptcy Code to ge their claims paid.
“The ground taken on behalf of the appellant is barred by limitation, as the debentures matured between the years 2011 and 2013 is not based on law,” the Tribunal said on Monda…
Read the full article at: http://economictimes.indiatimes.com/markets/stocks/news/tribunal-no-time-limit-for-loan-recovery-under-ibc/articleshow/60168921.cms
Insolvency experts say small businesses are doing it tough, but that wont stop the tax office and government bodies from stepping in to apply for company wind-up orders as the Australian Taxation Office continues its more aggressive pursuit of businesses.
Figures collated from court insolvency records by Prushka Fast Debt Recovery suggest that 46% of wind-up order applications in insolvency cases between November 2016 and June 2017 came from the ATO, while 19% came from other government sources.
According to Prushka Fast Debt Recovery, over the past six months, 616 of the 1,391 companies that were liquidated as a result of a wind-up application came about after action from the tax office, while 289 companies were liquid…
Read the full article at: http://www.smartcompany.com.au/finance/tax/ato-maintains-aggression-on-company-wind-ups-as-big-end-of-town-targeted-with-confessional-style-reporting/
Amcor has more than doubled full-year profit to $US597 million ($A752 million), as acquisitions dominated a year of strategic restructuring.
While the packaging giant delivered profits well beyond last year’s $US244.1 million, Amcor’s revenue from ordinary activities for the year to June 30 fell 3.4 per cent to $US9.1 billion ($A11.5 billion).
Amcor CEO Ron Delia said the results reflect progress in the global packager’s restructuring and the geographic breadth of its strategic investments.
Profit in Amcor’s rigid plastics business – adjusted to exclude US$40 million related to the hyper-inflation swamping its six Venezuelan plants – increased by 8.6 per cent, while its flexible packaging business (such as food wrappings us…
Read the full article at: http://www.sbs.com.au/news/article/2017/08/22/restructure-shows-results-amcor
Ten Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price.
Ten administrator Kordamentha said on Tuesday that the broadcaster first learned on May 2 that Mr Packer’s Consolidated Press Holdings would not support a new funding deal when the existing $250 million facility expired in December.
The network’s shares were only placed in a trading halt on June 13 after fellow backers Bruce Gordon and Lachlan Murdoch told Ten they were also ending their support.
Responding to a query from market operator ASX, KordaMentha said Ten had believed the market never assumed Mr Packer would continue his bac…
Read the full article at: http://www.sbs.com.au/news/article/2017/08/22/ten-learned-packer-was-walking-away-may
NEW DELHI: After Jaypee Infratech, the process of corporate insolvency resolution under the insolvency and bankruptcy code is likely to be initiated against three Amrapali group companies -Noida’s Silicon City and Greater Noida-based Ultra Home Construction and Amrapali Infrastructure -on the plea of Bank of Baroda.
A bank official said the National Company Law Tribunal‘s principal bench had reserved its verdict on the issue and may pronounce it any day now. The move will affect around 1,000 home buyers. A company source said Amrapali has prioritised delivery to Silicon City buyers. The Amrapali official, who refused to be quoted, said in all the three companies, the bank had outstanding amounts of much more than Rs 1,00,000, …
Read the full article at: http://timesofindia.indiatimes.com/city/delhi/3-amrapali-cos-may-face-insolvency-move/articleshow/60167363.cms