Oceania

Results for Oceania

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 - 22:32 - 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 - 21:22 - 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 - 09:36 - 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 - 22:38 - 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 - 19:57 - 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 - 19:58 - 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 - 21:10 - 0 comments

RBA Says Talks on Home Lending Curbs May Go Beyond Investors

Australian central bank officials said possible steps to cool the nation’s housing market wouldn’t necessarily be limited to investor lending curbs. The Reserve Bank of Australia is discussing with the Australian Prudential Regulation Authority “steps th ...

Daily Headline - global.abi.org - 10/01/2014 - 20:56 - 0 comments

VnC Cocktails, Makers Of Disick Drink, In Final Death Throes

New Zealand shake and pour cocktails company VnC Cocktails has gone into liquidation after failed attempts to sell it, Sharechat.co.nz reported. The company went into voluntary administration on June 30, was then tipped into receivership a few days later ...

Daily Headline - global.abi.org - 09/10/2014 - 21:46 - 0 comments

UN to Debate Debt Restructuring Reform

On Tuesday September 9 the United Nations General Assembly will meet to debate a new legal framework to serve as a guide for nations restructuring their debt, as is the current case with Argentina, teleSur reported. More than 130 developing countries hav ...

Daily Headline - global.abi.org - 09/08/2014 - 23:06 - 0 comments

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