The Commonwealth Court in Pennsylvania has approved petitions to liquidate Penn Treaty Network America Insurance Company and American Network Insurance Company, with policyholder claims set to be paid through the state guaranty association system subject to statutory limits and conditions. After a long and difficult eight-year legal process, the Courts decision to approve the liquidation…
Avoid the risk that your gift voucher becomes worthless if a retailer goes into insolvency A radical new way to gift money, free from the risk of retailer insolvency, has been launched in the UK. LoveFromMe is a personalised gift card scheme which can be redeemed anywhere in the World that accepts MasterCard. Thish De…
[SINGAPORE] RHB Bank Bhd’s Asian head of institutional equities at its securities unit Lena Yong left last week as the Malaysian lender restructured the business. “Yes, there was a restructuring and I was restructured out with the regional roles brought back to Malaysia,” said Singapore-based Yong in a telephone interview. “This is the sad state…
Carbon War Room (CWR) and UMAS have released research that suggests climate transition pathways pose risks to the banks that hold $400 billion of global shipping debt. With the onset of climate policies as soon as 2023, there will be a need for significant capital investment to keep vessels competitive. Navigating Decarbonisation: An approach to…
by Andrea Tan and Elffie Chew March 1, 2017, 9:14 PM EST March 2, 2017, 12:17 AM EST RHB Bank Bhd.s Asian head of institutional equities at its securities unit Lena Yong left last week as the Malaysian lender restructured the business. Yes, there was a restructuring and I was restructured out with the regional…
The word inflation is offensive to many people. In fact, the thought of increasing inflation produces negative connotations because we know that each year, because of inflation, we end up paying more for everything. But here’s the thing While inflation is the enemy of the average Australian, especially for those with savings which get slowly…
A MARRIED couple who run The Convent have been accused of not paying performers on time, have had dozens of now dissolved or liquidated companies under different names and have both been declared bankrupt, it has emerged. Last year the SNJ reported on claims from former employees at the music venue, boutique hotel and private…
The recently appointed chief of China’s top banking regulator reiterated on Thursday that the market-oriented debt-to-equity swap initiative can “greatly help reduce leverage.” The implementation of the swaps will be guided by markets and the law, and there will be no State orders or official targets for the volumes, said Guo Shuqing, chairman of the…
Although there is a provision in the section 233 of the Code that no suit, prosecution or other legal proceeding shall lie against the insolvency professional, liquidator and other officials of IBBI for anything which is done in good faith under the Code, professionals feel that it is too hard to prove that a particular…
Watersun Homes administrator Mathew Gollant recommended the homebuilder’s clients check if they have a domestic building insurance policy. Picture: DARREN HOWE RELATED: Watersun Homes enters administration Property owners affected by the collapse of Watersun Homes have been advised to check their domestic building insurance policies, as the administrators work to ensure their homes are completed. The Melbourne-based homebuilder…