Insolvency Guardian Media Centre
Sources said it was attended by State Bank of India (SBI) and Punjab National Bank (PNB), among others. (Image: Reuters)A group of top lenders on Monday met officials from the Indian Banks Association (IBA) to review the progress of insolvency proceedings against 12 companies sent to the National Company Law Tribunal (NCLT). Sources said it was attended by State Bank of India (SBI) and Punjab National Bank (PNB), among others. Bankers said the meeting was to take stock of the proceedings and discuss the possibilities of recovery and resolution of these accounts. It was a regular exercise, aiming to review these accounts. We want a proper co-ordination among all parties, a banker said. Meanwhile, NCLT benches have admitted …
Read the full article at: http://www.financialexpress.com/industry/banking-finance/lenders-review-insolvency-process-against-12-firms-sent-to-national-company-law-tribunal/798242/
NATIONAL transport and logistics specialists Centurion are helping to reshape the Central Queensland landscape.
The township has become one of three locations, including Mackay and Brisbane, where the family-owned Western Australian company have expanded in recent months.
The timely move follows the liquidation of unassociated transport company McAleese in August last year, and its reincarnate, Rivet Group, which placed a number of businesses into administration on July 18.
Emerald branch manager Tom Myrlea said the acquisition of on-road assets from the McAleese receivers had helped Centurion get underway in the Sunshine State, but they’ve also added extra equipment and expertise in the months since. He said this increased heavy-lift cap…
Read the full article at: https://www.themorningbulletin.com.au/news/national-trucking-company-makes-strategic-move-to-/3209887/
LEROY, Texas (KWTX) It was a Friday, the end of the week, on Aug. 7, 1987 as storm clouds gathered over the uninsured Leroy Bank which on this day announced it was closing.
“I had friends that lost everything they had,” Albert Miller, 94, said.
The bank was private and not insured by the Federal Deposit Insurance Corporation, which would have guaranteed the depositors would have gotten their money back.
“I lost money there,” he said, “It was devastating.”
It wasn’t like a bank went insolvent in Dallas, or Houston, or even Waco where such a thing could be absorbed by a growing economy because besides corn and cotton, very little…
Read the full article at: http://www.kwtx.com/content/news/Thirty-years-ago-the-sky-fell-on-one-small-Central-Texas-town-439078663.html
Tesla is turning to the junk bond market to help meet its hefty expansion goals. On Monday, the company announced that its planning to raise $1.5 billion in its first-ever debt offering to fund production of the Model 3 EV sedan and its Nevada battery Gigafactory.
Teslas $1.5 billion offering of unsecured senior notes, due in 2025, marks the first time the EV-battery-solar maker has turned to traditional debt markets to fuel its rapid expansion. Previously the company raised money through equity and convertible debt, mostly recently in a $1.15 billion raise in March, including $250 million of common stock and $750 million of convertible senior notes due in 2022
Tesla has raised nearly $4.5…
Read the full article at: https://www.greentechmedia.com/articles/read/tesla-to-raise-1.5b-to-finance-model-3-rollout-gigafactory-expansion
ECONOMICS lecturer turned national hotel-chain boss Sid Knell plans to “re-birth an iconic Rockhampton location.
The Bridge Motor Inn caught the Central Apartment Group CEO’s eye as he looked to expand his Central Queensland footprint.
The Bolsover St business went into voluntary administration in March, but Mr Knell said its central location and refurbishment potential made it the clear choice to add to his chain.
Mr Knell’s move to purchase the entire business comes during what he believes is prime time to snap up such an establishment, with “economic improvement for the region just around the corner.
Former university economics lecturer Mr Knell said he had a fascination with Australian regional economies and sees Rockhampton as a c…
Read the full article at: https://www.themorningbulletin.com.au/news/national-hotel-chain-plans-re-birth-of-iconic-rock/3209809/
NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority.
Across the Hunter there were 215 cases of personal insolvency in the June quarter of 2017, with Newcastles 43 debtors the largest in the state outside of Sydney.
Across Australia there were 7,729 debtors who entered a new personal insolvency to June, a fall of 3.9 per cent compared to the previous quarter.
In the Hunter, there were six less cases of personal insolvency than in the March quarter.
Victoria and Queensland had the largest falls, falling by 131 and 111 debtors respectively.
In New South Wales there were 1,297 debtors who entered a new personal insolvency in Greater Sydney in the June…
Read the full article at: http://www.illawarramercury.com.au/story/4830104/newcastle-leads-the-pack-in-personal-insolvencies/?cs=4110
PUBLISHED: 17:08 07 August 2017 | UPDATED: 17:08 07 August 2017
Seaside towns like Great Yarmouth have been found to have a higher than average rate of personal insolvency. Picture: James Bass
Archant Norfolk © 2014
Coastal towns have dominated a list of the top areas for personal bankru…
Read the full article at: http://www.ipswichstar.co.uk/news/coastal-town-s-including-great-yarmouth-and-ipswich-dominate-personal-bankruptcy-list-1-5139213
KidsGiving365 is creating the next generation of givers by making community service a way of life for young people. When children volunteer, studies show they learn kindness, respect and empathy. Kids involved in community service also do better in school, and are less likely to become pregnant and try drugs. KidsGiving365 is a non-profit, 501(c)(3) created by three moms in 2010 who wanted to get their kids involved in community service. Our mission is to inspire life-long giving.
KidsGiving365 Get ideas and see what other kids in Colorado and around the country are doing every day to help others by checking our website and Facebook pages. W…
Read the full article at: http://kdvr.com/2017/08/07/kidsgiving365-helping-to-erase-the-school-lunch-debt/
Paravion, Romanias biggest online tourism portal, has filed for insolvency and will close bavul.com, the Turkish-based portal it purchased in 2014. The company will implement a restructuring plan starting August 8.
In the past year, Paravions Turkish portal, bavul.com, which represents one third of the business, recorded losses, due to the political instability and security issues affecting Turkey. Losses amounted to several million euros, sources say. Paravion is managed by GED investment fund.
The online tourism agency Paravion, present in Turkey with portal bavul.com, will implement a restructuring program starting 8 August 2017. The decision was motivated by the dramatic drop of the business ran by Paravion in Turkey via Bavul…
Read the full article at: http://www.business-review.eu/news/paravion-closes-turkey-portal-bavul-com-files-for-insolvency-145372
A Hong Kong businessman is suing the company founded by the citys late father of concerts for unreturned investment costs and profits totalling more than HK$3.65 million over concerts staged across Asia by popular artistes, according to a court writ.
Tang Wai-yip claimed in a High Court writ filed by his lawyers on Friday that he had collaborated with father of concerts Cheung Yiu-wings Yiu Wing Entertainment Company to organise six concerts between 2013 and 2014.
Two heavenly kings of Canto-pop among mourners at funeral of Cheung Yiu-wing
The overseas artistes were J-pop boyband w-inds, K-pop group SHINee and Taiwan pop and folk singer Tsai Chin. The local acts were Canto-pop diva Joey Yung, Canto-pop godfather Sam Hui Koon…
Read the full article at: http://www.scmp.com/news/hong-kong/law-crime/article/2105815/hong-kong-businessman-seeks-hk365-million-company-late
Weeks after the National Company Law Tribunal, Kolkata, admitted an insolvency plea against Binani Cement filed by Bank of Baroda, ET NOW learns that top domestic cement players are making a beeline for the sought-after assets of the Brij Binani Group company in a bid to bolster their pan-India presence and a strike a potential value buy, multiple sources familiar with ongoing negotiations told ET NOW on the condition of anonymity.
“This is one of the best cement assets in the country and multiple cement companies like Ultratech Cement, Shree Cement, Nirma, Dalmia Bharat, JSW cement and My Home Industries have reached out to the lenders and expressed preliminary interest in Binani Cements. There is a lot of interest in the company an…
Read the full article at: http://economictimes.indiatimes.com/industry/indl-goods/svs/cement/top-cement-players-eyeing-binani-cement-assets-post-insolvency-nod-by-nclt/articleshow/59955851.cms
Tesla Inc.
TSLA, +2.83%
said Monday that it will sell $1.5 billion worth of debt to help shore up its balance sheet. The electric-car maker said it will sell senior unsecured debt obligations set to mature in 2025. “Tesla intends to use the net proceeds from this offering to further stre…
Read the full article at: http://www.marketwatch.com/story/tesla-to-sell-15-billion-in-debt-to-boost-balance-sheet-2017-08-07