HARVARD, Ill., April 4, 2017 /PRNewswire/ — Harvard Illinois Bancorp, Inc. (the “Company”) announced today its audited statement of net assets in liquidation, as of December 31, 2016, and its change in basis of accounting, effective as of November 3, 2016. The change in basis of accounting requires the Company to record certain estimated costs which…
UPDATE, 7.55PM: RABBIT Hole, Dirty Martinis and Movidas have all been closed until further notice. “The Rabbit Hole is closed until further notice,” their Facebook page read at 7pm. “Dirty Martinis is closed until further notice,” Dirty Martini’s page had announced an hour earlier. “Movidas is closed until further notice,” that page read at 7.30pm.…
It’s incredibly cliched, I know, but in Australia right now, it’s true: the rich are getting richer, and the poor well, you know the rest. We’re talking credit card debt, and mortgage repayments. But those bills are becoming harder and harder to meet as the price of gas and electricity rises, and wages continue…
Audited Statements of Net Assets in Liquidation and Changes in Net Assets in Liquidation. At December 31, 2016, the Company reported audited total assets in liquidation, total liabilities in liquidation, and net assets in liquidation of $14.6 million, $3.1 million and $11.5 million, respectively. Assets in liquidation at December 31, 2016 included the $8.1 million…
Rebecca McDonald / 05 April 2017 A creditors meeting is expected to finally decide the fate of failed builder Watersun Homes, after hundreds of home builders were told they would have to find someone else to complete their works. Hundreds of home construction projects, including a number in Torquay, Clifton Springs and Werribee, ground to…
Madhusudan Sahoo is the chairman of the Insolvency and Bankruptcy Board of India (IBBI) which will facilitate faster resolution of stressed assets in the country through the implementation of the Insolvency and Bankruptcy Code. He has worn regulators hat at the Competition Commission of India (CCI) and the Securities and Exchange Board of India (Sebi).…
There is no guarantee that indebted Croatian food group Agrokor can be saved, the restructuring expert appointed to rescue the business said on Tuesday, describing the challenge as one of the toughest in his career. “Time is of the essence. The situation is pretty acute,” Antonio Alvarez III told a news conference to unveil his…
The Bucharest Court of Appeal decided to permanently close the insolvency procedure of Hidroelectrica, one of the most profitable state-owned companies, almost five years after the company filed for insolvency, reports local News.ro. When the insolvency procedure was opened, Hidroelectrica had 11 ongoing bilateral contracts for electricity supply at prices considered damaging to the company.…
An idle oil pump jack is seen in a field near Leduc, Alta. / Financial Post CALGARY Major Canadian oil companies could face tens of millions of dollars in liabilities as a result of tiny Lexin Resources Ltd.s insolvency and its inability to clean up over 1,500 oil and gas wells in Alberta, which has…
Ultrapetrol (Bahamas) Limited Has Completed Its Court-Approved Financial Restructuring and Emerged From Chapter 11 on March 31, 2017 Tuesday, April 4, 2017 1:00 PM UTC NASSAU, Bahamas, April 04, 2017 — Ultrapetrol (Bahamas) Limited (the Company), a Bahamas corporation, announced today it has successfully completed its court-approved financial restructuring and has emerged from its pre-packaged…