Galway Bay fm newsroom 190 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years. Thats according to the latest report from the Insolvency Service of Ireland. The report cover the period from the beginning of 2014 to the first quarter of this year. It reveals that 84 people…
International firms announce mergersTwo international law firms have announced new tie-ups, one in Singapore and Brunei; the other crossing the Atlantic. Eversheds Sutherland has merged with Harry Elias Partnership to form a new firm operating in Singapore and Brunei after many years of working closely. Eversheds Harry Elias is live as of 1st June 2017…
Barclays has offloaded a stake worth about £2.2bn in its African business as it presses ahead with boss Jes Staleys plan to streamline the bank and focus it on Britain and the US. The FTSE 100 giant has sold a 34pc chunk of Barclays Africa after securing approval for the disposal from the South African government. The deal…
Just days after Fitch downgraded Anil Ambani-owned Reliance Communications (RCom) saying loan default is a real possibility, lenders will meet on Friday to discuss restructuring proposals for the debt-ridden firm. The restructuring proposals could look at all available recast tools like corporate debt restructuring (CDR), strategic debt restructuring (SDR) and Scheme for Sustainable Structuring of…
Former WA One Nation Senator Rod Culleton. ANTI-FARM foreclosure crusader Rod Culleton has asked the federal Department of Finance for an extension on the deadline for him to request a waiver of his commonwealth debt of about $700,000. Last week Special Minister of State Scott Ryan revealed former SA Family First Senator Bob Day who…
TOKYO Five years after a painful restructuring that saw significant layoffs, staggering losses and a not-so-surprising exit from the PC market, Sony is back. The giant is riding the recovery of its consumer electronics business towards a nicely balanced profit structure, helped along by its financial services and entertainment operations. For the year ending March…
Beena Parmar Moneycontrol News Bankers will be meeting today to decide on a restructuring plan for debt worth over Rs 42,000 crore owed by Reliance Communications (RCom). After four rating firms recently downgraded the company’s debt, its bad loans are in danger of turning into non-performing assets. Banks are likely to discuss how RCom will use the…
In recent months, a few incidents have come to light where vendors or trade creditors to a company sought criminal action and government intervention when the firm failed to pay their dues. The issue appears to be gaining ground considering that many distressed companies and startups are becoming potential targets for mergers and acquisitions. Vendors…
THE operator of a Perth restaurant chain has been fined nearly $40,000 for underpaying the foreign workers she employed. The operator and franchise owner of several well-known Hans Cafe restaurants, Tram Hoang Han, and several companies she was a sole director of, have been fined a total of $37,500 in the Federal Court of Australia. Hans…