LONDON: Atta-ul-Haq, founder of Pakistan Achievement Awards and director of UK-Pakistan Chamber of Commerce & Industries (UKPCCI), has been declared bankrupt by a court after failing to pay loan to respected British Pakistani businessman Raja Adil. The County Court in central London confirmed that Atta Ul Haq stands officially bankrupt following his non-appearance at the…
ARU CEO Bill Pulver says playing a Wallabies Test in Fiji is a debt Australia owes the Pacific Island nation. The Wallabies have a handful of Fiji-born players in their Test side and Pulver said the country had plenty to thank their neighbours for. New Zealand took a Test to Samoa in recent years, a…
The decision by a fish distributor listed in Singapore to abandon local court proceedings and seek United States bankruptcy protection shows the hurdles the Asian nation faces in its bid to become a global debt restructuring hub. Pacific Andes Resources Development, which defaulted on a $200 million note in January, filed last month in the…
Getting out of debt can be challenging, especially if you have little experience in managing your finances and need support. Using a counseling agency can be a great way to get debt relief. The agency can possibly negotiate reduced interest rates for you to pay back all your unsecured debt. You then make a single monthly…
Last year 1,962 SA companies went to the liquidation wall. The figure could have been lower if more companies in financial distress had opted for business rescue. “Business rescue provides a moratorium to shield a company in distress from creditors wanting to put it into liquidation,” says Haroon Laher, Norton Rose Fulbright SAs head of…
AppNexus, one of the companies hotly tipped to be the next ad tech IPO, is restructuring and laying off more than 13% of its staff as it prepares to go public. The New York-based company will shed 150 roles, bringing its headcount down from 1,125 to around 975, a company spokesman confirmed. The thinking behind…
Two Queenstown lodges placed into receivership in February have sold, but they and their sole shareholding company have now been placed in liquidation. Evergreen Lodge, at Sunshine Bay, and Remarkables Mountain Lodge, on Kingston Rd, were sold by tender for a total of $3.87 million. However, the second receivers report says both property companies and…
Travelling almost always involves confronting experiences with abject poverty. As you step out of the pampered cocoons of hotels, restaurants and airline cabins and see destitute people sleeping on streets in all weather and imploring you for money, it is only the most hardened or indifferent whose holiday post-mortems dont wrestle with dilemmas of the…
MoneyTips Getting out of debt can be challenging, especially if you have little experience in managing your finances and need support. Using a counseling agency can be a great way to get debt relief. The agency can possibly negotiate reduced interest rates for you to pay back all your unsecured debt. You then make a…
The Czech minister of justice is putting forward a new amendment to the bankruptcy law aimed at helping people to climb out of debt and make a fresh start. The legislation would make it easier for them to enter the debt relief process and could mean they will be free of debt more quickly than…