Bank Repossession

Administrator PPB Advisory today announced it would suspend Hastie's Australian mechanical, electrical and plumbing operations , after determining there were insufficient funds to operate  and run the businesses   The Administrators will remain in control of the companies that comprise the mechanical, electrical and plumbing (MEP) businesses in Australia as well as operations in the Middle East. These businesses employ 2,700 people in Australia and approximately 2,000 in the Middle East. More at pbadvisory.com-hastie-group   PPB said staff across the businesses had been informed formally of the situation and that there would be job cuts. Hastie group problems  and administration   Hastie Group, which provides solutions for commercial and industrial air conditioning and refrigeration services  to both Australia and New Zealand, had already been in talks with banks and new investors to extend its loans, but they broke down when Hasti...

  The oswals  who were part owners of Burrup fertilizers in WA this week had their cars sold into auction   as part of the receivership. Embattled fertiliser tycoons and former Perth residents Pankaj and Radhika Oswal have begun liquidating their lucrative assets, with four luxury cars belonging to the couple going under the hammer. A 2007 Bentley convertible, Porsche Cayenne Turbo and two BMW 5-series sedans were the cream of the crop in a 40 car auction held at Manheim yesterday afternoon, potentially fetching more than $470,000. The couple's 2008 black sapphire BMW 5 Series was also referred after the highest bidder came in at $55,250, below the reserve price.

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 recievership The 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 loans About Pike river coal Mine The 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 years http://www.pike.co.nz/ A series of explosions one after the other rocked the underground mine near...

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 S...