Oceania

Results for Oceania

United Dairy Power In Receivership

The parent company of Australia’s largest privately owned milk processing company, United Dairy Power (UDP) has been placed in receivership after its banker moved to remove its board and appoint a new CEO to manage its debts, The Australian reported. ...

Daily Headline - global.abi.org - 11/18/2014 - 20:59 - 0 comments

Australia Needs Stimulus to Avoid Recession, Morgan Stanley Says

percentage points of that coming from higher exports, and unemployment will climb to 6.8 percent, Morgan ... previously reported and the unemployment rate was 6.2 percent, rather than 6.1 percent, following a review of ...

Daily Headline - global.abi.org - 11/04/2014 - 23:17 - 0 comments

Pluton Questions Validity Of Receivership Appointment

Iron-ore junior Pluton Resources is battling receivership after junior Chinese creditor Rizhao Port Group appointed receivers and managers, prompting fellow-listed Watpac to suspend an existing mining services contract at the Cockatoo Island project, M ...

Daily Headline - global.abi.org - 11/03/2014 - 21:37 - 0 comments

Client Losses Knock Over Sumo Visual

Multiple major client losses have forced Sumo Visual Group, one of Australia’s biggest retail signage printers, into administration, only six months after making a big kit investment, ProPrint reported. The $30m-a-year 60-staff company with operation ...

Daily Headline - global.abi.org - 10/29/2014 - 21:32 - 0 comments

Vincent Aviation Enters Receivership

Wellington-based aviation company Vincent Aviation, which has about 30 workers, has gone into receivership, Stuff.co.nz reported. In a public notice released today, Stephen Tubbs from BDO was appointed receiver of the company, which was established in 19 ...

Daily Headline - global.abi.org - 10/23/2014 - 20:22 - 0 comments

When can a liquidator get his or her costs and expenses?

The High Court has recently reaffirmed the principle that a liquidator is entitled to be paid his or her costs and expenses properly incurred in realising assets of a company in priority to a secured creditor. This is so even if the fund realised was der ...

Resource Article - abi_admin - 10/16/2014 - 08:36 - 0 comments - 1 attachment

Winding Down Failing Banks: Armageddon Delayed

“We will not kick you when you are down, at least not for a couple of days”: that is the gist of a putative deal struck by 18 global banks this week, which agreed not to pull abruptly out of contracts with each other if one of them hits the buffers. As m ...

Daily Headline - global.abi.org - 10/09/2014 - 21:38 - 0 comments

Global Banks Face 25% Loss-Absorbency Rule in FSB Plan

The largest global banks will have to hold more capital and liabilities than previously reported that can automatically be written off in a crisis -- as much as a quarter of risk-weighted assets -- as regulators take on lenders deemed too big to fail. Th ...

Daily Headline - global.abi.org - 10/07/2014 - 18:57 - 0 comments

Helipro Put Into Receivership

Well-known helicopter company Helipro has put itself into receivership, Stuff.co.nz reported. Helipro employs about 70 staff, with eight bases throughout New Zealand and operations in Fiji and Australia. As well as commercial and tourism helicopter fligh ...

Daily Headline - global.abi.org - 10/07/2014 - 18:58 - 0 comments

IMF Proposes Changes to Government Bond Contracts

The International Monetary Fund Monday backed a gradual exchange of government bonds around the world with new contracts to counter risks that holdout creditors could disrupt potential debt restructurings, The Wall Street Journal reported. The IMF, a ...

Daily Headline - global.abi.org - 10/06/2014 - 20:10 - 0 comments

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