By Stephanie Kelly NEW YORK (Reuters) – Puerto Rico rejected on Thursday a $1 billion loan offer from creditors of the island’s bankrupt power utility, calling the proposal “not viable” and saying it would hamper the utility’s ability to recover. The Puerto Rico Electric Power Authority’s bondholder group on Wednesday offered the utility a new…
Robert Jackman outside the Albany Justice Complex.Picture: Laurie Benson/Albany Advertiser The former director of the collapsed Rare Coin Company declared he was bankrupt as he faced charges that he stole more than $1.8 million from investors before the company collapsed four years ago. Robert Colin Jackman appeared in the Albany Magistrates Court yesterday on 36…
A third of young people feel more anxious now than this time last year, according to a study that found the prospect of Britain leaving the European Union, money worries and the cost of housing have magnified doubts about future prospects. The rise in anxiety sits alongside figures showing that around half of young people…
A man convicted of murdering his friend in 2008 will spend at least two decades behind bars for the money-motivated Melbourne crime described as cold-blooded. Christopher John Lavery, 31, set up a meeting with 24-year-old cannabis dealer James Russouw. He knew Mr Russouw would be carrying about $13,000 in cash to buy drugs after the…
The Ten Networks recent experience of voluntary administration and subsequent rescue by CBS demonstrates how insolvency law works for large Australian companies. But 97% of Australian businesses are small or medium size enterprises (SMEs), and they face a system that isnt designed for them. 60% of small businesses cease trading within the first three years…
A man convicted of murdering his friend in 2008 will spend at least two decades behind bars for the money-motivated Melbourne crime described as cold-blooded. Christopher John Lavery, 31, set up a meeting with 24-year-old cannabis dealer James Russouw. He knew Mr Russouw would be carrying about $13,000 in cash to buy drugs after the…
By Christopher Spink LONDON, Sept 28 (IFR) – The long-awaited restructuring of Norske Skog, which seemed to be reaching consensus earlier this week, looks like being disrupted again after junior creditors objected to the rescue plan put out by the Norwegian pulp and paper company, and since backed by two-thirds of secured creditors. The committee…
Mumbai, September 28: State-owned Indian Overseas Bank has sold its bad debt exposure of 1,500 crore in Essar Steel to Edelweiss Asset Reconstruction Company at a 50 per cent discount to its book value, said sources close to the development. The deal comes even as the National Company Law Tribunal declared Essar Steel insolvent and…
On Sep 26, we issued an updated research report on internet-based social expression and personal publishing service provider, Shutterfly, Inc.SFLY . Efforts to Improve Operational Efficiency Shutterfly has undertaken various structural changesas announced in fourth-quarter 2016. In fact, the company plans to retire many of its other brandsin order to focus more on profitable and…
By Christopher Spink LONDON, Sept 28 (IFR) – The long-awaited restructuring of Norske Skog, which seemed to be reaching consensus earlier this week, looks like being disrupted again after junior creditors objected to the rescue plan put out by the Norwegian pulp and paper company, and since backed by two-thirds of secured creditors. The committee…