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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, …
On Aug 18, we issued an updated research report on Terex CorporationTEX , a global equipment manufacturer. The company is set to benefit from progress on capital allocation strategy. Also its focus on portfolio restructuring and cost-saving initiatives is likely to boost results in the near term.
Notably, Terex fulfilled its commitment to focus on three core segments and continues to simplify the company by implementing footprint and cost-restructuring plans. In fact, it has already closed the sales of its loader backhoe business in the United Kingdom and India.
Furthermore, the company simplified manufacturing footprint by completing the closure of its Cranes facility in Jinan, China. In Germany, Terex si…
EIGHTY-four Gold Coast construction companies are on the brink of collapse, according to new data from insolvency group SVP Partners.
The group’s August 2017 Commercial Risk Outlook report found 3.7 per cent of businesses in the industry were at high risk of insolvency.
The report comes in the wake of two major collapses in the space of a week – Queensland One Homes, which is in liquidation owing more than $3 million, and Commonwealth Games Village contractor Ware Building.
A third company linked to Queensland One Homes, Empire Constructions Pty Ltd, is under investigation for alleged illegal phoenix activity.
SV Partners director Matthew Bookless said Commonwealth Games spending had buoyed construction and infra…
THE question ‘will this business stay afloat’ is probably the furthest thing from shoppers’ minds when they place products on lay-by.
But maybe that should be the first.
As Bubs Baby Shops goes into voluntary administration Coast shoppers have again been left wondering whether they’ll get the products they’ve put down payments on, or if they’ll see their money again.
Usually the people who lay-by items are those that can’t afford to spend a great whack of cash in one go.
They’re the ones who can least afford to lose their deposits to a company that has gone out of business.
And given the nature of this particular business, the stress of losing cash or products like cots that expectant parents are relying on for imminent births, …
A STRING of companies linked to The Convent in Woodchester have been placed in temporarily liquidation by the government to protect more than £7.8 million raised by investors.
The investigation, led by the Insolvency Service, has seen the seizure of 13 companies run by Matt and Charlotte Roberts, all operated from hotel and music venue The Convent, which ceased hosting live performances in March.
Previous investigations from the SNJ highlighted that the married couple, who were both declared bankrupt, had parented 78 companies under a range of varying aliases.
Private individuals entered into investor agreements with at least eight of the companies involved in the seizure, raising a minimum of £7.8 million.
A Queensland boarding school failed to properly care for a student after she was allegedly gang-raped by older boys while boarding there in 2006, a royal commission has been urged to find.
Counsel assisting the Royal Commission into Institutional Responses to Child Sexual Abuse, David Lloyd, made submissions harshly criticising Townsville’s Uniting Church-run Shalom Christian College’s response to the trauma.
Shalom Christian College has been criticised by counsel assisting the royal commission. Photo: Michele Mossop
He said, 10 years on, the school still did not have enough money to provide a safe environment for its students.
During hearings in Sydney in November last year, the young woman’s tearful parents said they w…
It has been about a month since the last earnings report for PPG Industries, Inc.PPG . Shares have lost about 3.8% in that time frame, underperforming the market.
Will the recent negative trend continue leading up to the stock’s next earnings release, or is it due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
PPG Industries Tops Q2 Earnings, Sales Miss Estimates
PPG Industries reported adjusted earnings of $1.83 per share for the second quarter of 2017, up 5.8% from the year-ago earnings of $1.73. The result beat the Zacks Consensus Esti…
Distressed debt players are used to getting their hands dirty, but the team from SC Lowy might be about to take that a bit further as they run their eye over one of Australia’s biggest hydroponic farms.
Maria’s Farm Veggies is a $65 million venture that was to grow tomatoes and capsicums inside a 16-hectare glasshouse at Williamtown near Newcastle.
Enter SC Lowy, which is looking to recapitalise the ambitious development that has been besieged by cost overruns and time delays, and fund it to project completion.
Street Talk understands the Hong Kong investment group is in tal…
PARIS/COPENHAGEN (Reuters) – Total (TOTF.PA) is buying Maersk’s oil and gas business in a $7.45 billion deal which the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow.
For Danish company A.P. Moller Maersk (MAERSKb.CO), the sale of Maersk Oil, with reserves equivalent to around 1 billion barrels of oil, fits with a strategy of focusing on its shipping business and other activities announced last year.
The world’s top oil companies have been back on the takeover trail over the last year, helped by signs of a recovery in the oil market.
Total expects its biggest oil deal since it acquired Elf in 2000 to generate financial synergies of more than $400 million per year, in particula…
Infrastructure and environmental services group Cardno said it was looking for “bolt-on” acquisitions after asset sales helped the group swing to an annual net profit of $8.6 million.
The Brisbane-based company’s profit was boosted by the sale of a software business, XP Solutions, in September for $US49 million, allowing it to move back into profit after last year’s net loss of $194.9 million.
But the company took a $19.4 million loss from continuing operations compared with a $149.9 million loss a year earlier.
Cardno chairman Michael Alscher, also managing partner of Cardno’s biggest investor, Crescent Capital Partners, said the group had made “significant progress” in completing its restructure after several troubled y…
Resolving the differences in a divided playing group looms as the biggest immediate challenge for whoever becomes Gold Coast’s next NRL coach.
Neil Henry, the man appointed in 2014 following the sacking of foundation coach John Cartwright, was axed on Monday with a year remaining on his contract.
It brings an underwhelming end to a coaching tenure during which Henry dragged a club afflicted by boardroom turmoil, off-field drama and recruitment sagas to a first finals appearance in six years in 2016.
Henry’s first full season in charge of the Titans coincided with an off-field drugs drama for several players, the club entering voluntary administration and a high-profile snubbing by backflipping recruit Daly Cherry-Evans.
Operating a business is no mammoth task and needs planning and correct execution. However, at times you will find that you need to take mortgages for buying resources for your business. If you are not careful with debt management, there are high chances that you will borrow excess money and run into debts. There may be some emergency situations that you might not be able to control and need immediate funds for the business. This might be the second reason why you fall into debt. Whatever might be the case, a business debt is a business debt and should be paid off soon.
Improve cash flow
Now, when it comes to business debts, sometimes it gets out of hand, and you land up taking debts after debts. The result is a mounting debt s…
