Insolvency Guardian Media Centre
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The Dartbrook coal mine has been placed into voluntary administration and receivership after failing to meet loan obligations totalling $US113.6 million (A$175 million) to Vitol Asia.
The mine, operated by Dartbrook Operations, a subsidiary of Australian Pacific Coal (AQC), is located in New South Wales’ Hunter Valley coal mining region. It operates as an 80:20 joint venture between Australian Pacific Coal and Tetra Resources.
The company confirmed the mine had entered administration late last week. Deloitte’s Richard Hughes and Timothy Heenan were appointed as voluntary administrators of Dartbrook Operations.
What triggered Dartbrook’s collapse?
The financial crisis…
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Council to liquidate housing company after years of losses East Anglia Bylines
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Fund Me, KC: ULAH asks Kansas City to help save Westwood menswear store as pandemic debt looms Startland News
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Builder’s debts to unsecured creditors mount to more than $2m The Press
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A caller to “The Ramsey Show” recently shared a hard lesson learned about gambling and debt with hosts George Kamel and Jade Warshaw. Her decision to skip car payments and try her luck at the casino backfired in a big way, resulting in a repossession and a remaining debt of over $19,000.
“Instead of making my payments, I was thinking I can go to the casino and double it to make payments and things like that,” the caller said. But it didn’t work out. The car was repossessed and later sold for about $3,500, leaving her responsible for the large remaining balance on the loan.
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Adding to the confusion, she began receiving toll road bills tied to the vehicle even after it was sold. “I did reach out…
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Major retail chain supplier files for bankruptcy liquidation TheStreet
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Following this acquisition, Adani Power’s operating capacity has risen to 18,150 MW.
“The acquisition of VIPL is a key milestone in Adani Power’s strategy to unlock value through the turnaround of stressed assets,” Chief Executive Officer SB Khyalia said in a statement.
The company said it is further undertaking expansion of its base load power generation portfolio through a mix of brownfield and greenfield projects.
The Adani Group company is currently constructing six brownfield ultrasupercritical power plants of 1,600 MW each at its existing locations at Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh.
Besides,…
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