Results for Oceania
- Government Company To Manage Remaining Crown Guaranteed Finance Company Assets
The government is setting up a company to manage the recovery of the remaining assets of six finance companies placed in receivership while they had Crown guarantees, The National Business Review reported. "Right throughout the Retail Deposit Gu ...
Daily Headline - global.abi.org - 10/26/2011 - 22:08 - 0 comments
- Bridgecorp Staff Told To Lie When Investors Called, Court Told
Bridgecorp renewed investment offers to the public despite directors being aware the finance company had been missing interest payments to securities holders, the Crown argued this morning, The New Zealand Herald reported. The High Court this morning ...
Daily Headline - global.abi.org - 10/25/2011 - 22:31 - 0 comments
- Refund Home Loans In Administration But Buyers Waiting In The Wings
Mortgage broking group Refund Home Loans has been placed in administration, but several buyers are considering acquiring the business which has more than 350 franchisees and a substantial stake in the growing alternative home loan market, SmartCompany.co ...
Daily Headline - global.abi.org - 10/17/2011 - 22:07 - 0 comments
- Troubled Taranaki Bakery Business Stays In Yarrow Family After Sale
Taranaki baking business Yarrows (The Bakers) has been sold by receivers BDO to a member of the founding family, John Yarrow, The New Zealand Herald reported. He had originally sold his stake to his brother Paul in 2005, resulting in a legal fight wi ...
Daily Headline - global.abi.org - 10/12/2011 - 21:23 - 0 comments
- Goldman Faces An Impasse In The Long Battle For Redcape
A Goldman Sachs-led consortium continues to be frustrated in its attempts to secure control of the hotels group Redcape Property Fund, The Australian reported in a commentary. The consortium can get events of default under the fund's banking fac ...
Daily Headline - global.abi.org - 10/12/2011 - 21:24 - 0 comments
- Pub Group In Receivership, Blames Onerous Leases For Collapse
Pub owner National Leisure & Gaming, which operates 35 hotels in New South Wales and Queensland, has blamed "onerous leases" for its collapse and handed receivers the daunting prospect of trying to recover more than $150 million in debt, Sm ...
Daily Headline - global.abi.org - 10/11/2011 - 19:38 - 0 comments
- Class Action Fails To Stop Centro Restructure
The NSW Supreme Court has cleared the way for Centro's $4 billion restructuring, saying it can proceed to put its complex debt-for-equity proposal to votes of senior lenders, security holders and creditors, The Sydney Morning Herald reported. Th ...
Daily Headline - global.abi.org - 10/05/2011 - 22:15 - 0 comments
- Receivership For Another Serepisos Company
Receivers have been appointed to another company in Wellington property developer Terry Serepisos' empire and have taken over the management of his own headquarters, The New Zealand Herald reported. Deloitte's Barry Jordan and David Vance w ...
Daily Headline - global.abi.org - 10/04/2011 - 22:17 - 0 comments
- New Zealand Vows to Stay Course on Debt-Reduction Plans After Rating Cut
New Zealand and the companies that cut its credit rating last week have a different view of the country’s ability to curb government and household debt, Finance Minister Bill English said, Bloomberg reported. Standard & Poor’s, which reduced New Zeal ...
Daily Headline - global.abi.org - 10/02/2011 - 22:42 - 0 comments
- insolvency & restructuring
The Federal Court, in considering the collapse of the Great Southern group of companies, has reiterated that a trustee is entitled to be reimbursed or indemnified from the trust property for any expenses that have been properly incurred in the trust' ...
Resource Article - abi_admin - 09/28/2011 - 15:05 - 0 comments - 0 attachments