Australia

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Lawyers Positive on Insolvency Law Shake-Up

Sweeping reforms to insolvency laws and regulations are set to benefit distressed companies that are attempting to negotiate a sale and avert going into administration, The Australian Financial Review reported. Local lawyers are of the view that draf ...

Daily Headline - global.abi.org - 04/20/2018 - 00:12 - 0 comments

Restructuring & Insolvency

The recent unanimous Victorian Court of Appeal decision in an appeal from Re Amerind has been widely welcomed by insolvency practitioners and others, as it brought some clarity to the question of whether the statutory order of priority applies to trust c ...

Resource Article - twallace@abiwor... - 03/13/2018 - 13:59 - 0 comments - 0 attachments

Australian Sandalwood Group Quintis Appoints Administrators

Australia’s largest sandalwood forest company, Quintis Ltd, has called in administrators after one of its bondholders forced the firm to pay out A$37 million ($30 million), a spokesman for the administrators, KordaMentha, said on Monday. Quintis has been ...

Daily Headline - global.abi.org - 01/21/2018 - 19:50 - 0 comments

Australia's Aurizon in Talks to Buy Debt-Saddled Coal Port

Australian coal rail operator Aurizon Holdings said on Monday it was in talks to buy the Wiggins Island Coal Export Terminal (WICET), which urgently needs to restructure $3 billion in debt, the International New York Times reported on a Reuters story ...

Daily Headline - global.abi.org - 11/14/2017 - 00:20 - 0 comments

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 10:02 - 0 comments - 0 attachments

ANZ Bank Full-Year Cash Profit Rises 18% as Bad Debts Fall

Australia & New Zealand Banking Group Ltd. full-year earnings rose 18 percent on growth in its domestic banking businesses and lower bad debts, even as margins narrowed, Bloomberg News reported. Unaudited cash profit, which excludes one-time items, r ...

Daily Headline - global.abi.org - 10/25/2017 - 23:41 - 0 comments

RBA Cautions Indebted Households Vulnerable to Rate Rises

Australia’s central bank has warned that household borrowing is a key risk to the country’s financial system as higher interest rates could see households struggle to repay their debt, the Financial Times reported. “Higher interest rates, or falls in ...

Daily Headline - global.abi.org - 10/12/2017 - 23:12 - 0 comments

International arbitration report

Welcome to issue 9 of Norton Rose Fulbright’s International arbitration report. In this issue, we feature the exciting topic of innovation and disruption in international arbitration. We review the procedural and technological advances that are, or soo ...

Resource Article - twallace@abiwor... - 10/10/2017 - 11:29 - 0 comments - 0 attachments

Receivers Sue Arup for $2 Billion After Brisbane Toll Road Fails

Arup, the London-based global engineering company, is being sued in Australia for $2bn by the receivers of a Brisbane toll road that failed because its traffic forecasts proved optimistic, the Financial Times reported. BrisConnections, the company th ...

Daily Headline - global.abi.org - 10/03/2017 - 17:41 - 0 comments

CBS to Buy Australian Broadcaster Ten Network

U.S. media company CBS Corp. plans to acquire Australian broadcaster Ten Network Holdings Ltd., beating out a bid from Australian media moguls Bruce Gordon and Lachlan Murdoch for the company after it went into receivership, The Wall Street Journal r ...

Daily Headline - global.abi.org - 08/28/2017 - 22:17 - 0 comments

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