By Jonathan Randles Law360, New York (December 11, 2015, 4:39 PM ET) — Bankrupt Atlanta-based law firm Morris Schneider Wittstadt LLC filed a lawsuit Thursday against the owner of the Beau Rivage Resort & Casino to recover more than $1.5 million a former partner allegedly embezzled from the firm and gambled at the Biloxi, Mississippi,…
By Peter Bowden. Key Points: Complex cross-border issues can be dealt with relatively easily under the Cross-Border Insolvency Act as long as flexibility is built into the relevant orders. Cross-border insolvencies and restructuring might sound challenging, but there are some mechanisms that can make the process run surprisingly smoothly. Australia’s Cross-Border Insolvency Act 2008 (Cth)…
(In 16th paragraph, corrects company name to Opportune LLP from Opportune LLC) By Jessica DiNapoli and Liz Hampton NEW YORK/HOUSTON Dec 14 Law firms and banks are adding staff to their restructuring practices from Houston to New York City to scoop up new business as oil prices sink near 11-year lows, pressuring energy companies to…
By Jof EnriquezFollow me on Twitter @jofenriq Toshiba is looking to sell a majority stake its medical diagnosis imaging business as part of a company-wide restructuring. The Japanese manufacturer of X-ray machines and MRI scanners is seeking outsider investments, including potential M&A transactions, though no deals are imminent. In a statement issued last week, Toshiba…
A winter wonderland attraction has been forced to close down due to the unseasonably mild weather. Colchester Winter Wonderland and Ice Rink opened 25 days ago but has been unable to open on six of those days. About 5,000 people are thought to have booked tickets to attend between now and January 3. But attraction…
2015-12-23T12:21+02:00 12:21 23.12.2015 The National Bank of Ukraine (NBU) has declared Bank Sofiysky (Kyiv) insolvent, according to the website of the regulator. The relevant decision was stipulated in NBU resolution No. 916 dated December 22, 2015. “After the anti-terrorist operation had started, the bank moved from Donetsk to Kyiv, however, almost the entire loan portfolio…
Today… Brown slams Deila sacking petition Scott Brown last night told everyone at Celtic that a historic Treble-winning season would silence the clubs critics. The captain was speaking on the same day an online petition, signed by around 200 people purporting to be…
COLCHESTER’S Winter Wonderland has shut for good after the organisers were forced to go into liquidation. The attraction in Castle Park has become the victim of the unseasonably warm weather, forcing it to close the numerous times since it opened 25 days ago. More than £50,000 has been refunded to ticket holders who have been…
The Detroit News 11:30 p.m. EST December 22, 2015 Testing like this is just one of the expenses related to the Flint water crisis. Lansing needs to step up to help.(Photo: Detroit News file photo) Flints financial crisis became a health crisis with the decision to unhook from the Detroit water system and start delivering…
Ken Rosewall owned now defunct stockbroking firm BBY with his son, Glenn Rosewall. Photo: Jesse Marlow Liquidator KPMG’s report into BBY has unmasked the scale of compliance shortcomings and dubious practices at the failed stockbroking firm, noting that the firm’s investment in Firestone Energy was pivotal in denting its financial position and contributing to its demise. BBY collapsed spectacularly in…