Pennsylvania Court Approves Liquidation of Two Insurance Companies – Insurance Journal

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…

Eradicate the risk of retailer insolvency with LoveFromMe, the personal and tangible way to gift money – RealWire (press release)

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…

RHB Institutional Equity Asia head leaves amid restructuring – THE BUSINESS TIMES

[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…

Is the banks’ $400 billion global shipping debt about to sink? – Transport and Logistics News

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…

Investigation reveals shocking history of bankruptcy and dozens of companies under different names for couple who … – Stroud News and Journal

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…

Market-oriented debt-to-equity swaps can help address debt problems: CBRC head – Global Times

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…

Watersun insurance policy prompt – Bendigo Advertiser

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…