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Showing posts from December, 2010

Fall of the Oswal ( Burrup fertilizers') Amonia empire

Recievers appointed to  Burrup Fertilizers Amonia plant Pankaj Oswal's reign as one the world's biggest fertiliser players ( Burrup Fertilisers) has hit the dust after ANZ, fed up with the bitter dispute between the Indian tycoon and his Norwegian partner Yara, appointed receivers to Mr Oswal's Pilbara ammonia empire.PPB Advisory has been charged by ANZ to sell Burrup Fertilisers to the highest bidder, with the bank thought to be trying to recoup up to $800 million owed by Burrup Fertilisers and Mr Oswal's family.History of the dispute: September 27, 2010 ref : http://www.watoday.com.aulIndian entrepreneur Pankaj Oswal is backing away from his dream of a multibillion-dollar public float of ammonia producer Burrup Holdings, amid signs of another falling out with co-shareholder Yara International. Yara, a Norwegian fertiliser manufacturer with a market value of about $14 billion, went to the Federal Court twice this month to stymie Mr Oswal's attempts to convert the …

Pike River coal mine blasts into receivership

The company at the centre of last month's deadly mine explosions  and all over the news for the mine tragedy in New Zealand has been dealt another blow as it was placed in receivership.New Zealand Pike river Mine in recievershipThe mine's main shareholder “New Zealand Oil and Gas Ltd” has appointed Price Water house Cooper ( PWH) as the receiver at the request of the mining company's board. Spokesperson for Pike River Coal says it is in a delicate financial position and is unlikely to be able to repay its loansAbout Pike river coal MineThe Pike River Mine is a coal mine operated by Pike River Coal Ltd 46 km (29 mi) north-northeast of Greymouth in the West Coast Region of New Zealand's South Island.It was to begin production in early 2008, and was initially expected to produce around one million tonnes of coal per year for around 20 yearshttp://www.pike.co.nz/A series of explosions one after the other rocked the underground mine near Greymouth on the west coast of the S…

No bidders for Liquidators for Tascot Templeton Carpets in Devonport

Unfortunately the rug  has finally been pulled off from the  carpet factory.Liquidators for Tascot Templeton Carpets in Devonport have given up hope of finding a buyer for the business after getting only one flicker of interest from a potential buyer.The company was placed in liquidation in October, with the loss of 150 jobs. The last 30 approximate workers at the factory will finish up soon next week. The liquidator Cook said "We went through a process of seeing whether we could sell the business as a going concern, unfortunately that did not result in a sale,".http://www.tascot.com.au/About tascot Tascot Carpets proudly manufacture wool and wool blend, Tasmanian made high quality carpets, at Devonport. Tascot pride themselves on creating the highest quality flooring products that reflect their reputation for design excellence and craftsmanship. Tascot Carpets are well-known both nationally and overseas thanks to their extensive sales distribution network servicing Australi…

Information on Bankruptcy , Receivership and insolvency database - Australia

Getting information like if a person has been bankrupt before  or getting insolvency history or company details  can often be quite important before  a person or a company makes a decision to deal with  a entity or person.So what is the NPII ( National Personal Insolvency INDEX) ?The National Personal Insolvency Index is a data base maintained by the Insolvency Trustee Service Australia, an Executive Government Agency that oversights and regulates Australia’s bankruptcy laws, trustees and administrators.The cost of searching a name on the system is $35 depending on information provider and somewhat prohibitive to both commercial and private enterprises.The Insolvency and Trustee Service Australia ("ITSA") is responsible for maintaining an index containing information on proceedings and administrations under the Bankruptcy Act, 1966.Any person can, for a fee, gain access to the information maintained on this index through authorised Index Search Agents.
Contact details of I…