Olaf Storbeck January 4, 2018 The chief financial officer of South African furniture retailer Steinhoff International, Ben la Grange, stepped down from his role on Thursday in the latest blow to the stricken group since it became embroiled in an accounting scandal in December. The company said Mr la Grange would instead focus on the…
FRANKFURT (Reuters) – A Berlin court on Thursday rebuffed a legal challenge to the insolvency filing of airline Niki, which could derail the sale of the Air Berlin (AB1.DE) unit to Britains IAG (ICAG.L), and referred the case to a higher court for a ruling. Niki filed for insolvency in Berlin last month after Germanys…
Insolvency professionals are flummoxed by the latest rule from the Insolvency and Bankruptcy Board of India that prohibits them from outsourcing the work related to resolution of a bankrupt company. “All the assignments in which delegation of authority has taken place by the insolvency professional even if it is with the approval from the Committee…
Man jailed over Lincoln Prison drug bid to pay loan shark 4 January 2018 Image copyright Lincolnshire Police Image caption Charles Smith claimed the people he owed money to had visited the houses of his mother and his children chasing the debts A man caught throwing packages of drugs over the wall into Lincoln Prison…
Ed Crooks January 4, 2018 Westinghouse Electric Company,the US nuclear engineering group that went into chapter 11 bankruptcy last year, has been sold by its owner Toshiba to Brookfield Business Partners, the private equity group, for $4.6bn. The deal is conditional on approval from the bankruptcy court and regulators around the world. Brookfield is funding…
Image copyright Lincolnshire Police Image caption Charles Smith claimed the people he owed money to had visited the houses of his mother and his children chasing the debts A man caught throwing packages of drugs over the wall into Lincoln Prison in a bid to clear his debts has been jailed for two years. Charles…
Man throws £2,800 worth of drugs over wall at Lincoln prison Charles Smith who has been sentenced to two years in prison A man threw drug packages worth up to £2,870 over the wall at Lincoln prison in an attempt to reduce his gambling debt. Charles Smith, 32, of Earlesfield Lane, Grantham, was caught on…
A man threw drug packages worth up to £2,870 over the wall at Lincoln prison in an attempt to reduce his gambling debt. Charles Smith, 32, of Earlesfield Lane, Grantham, was caught on CCTV security cameras when he threw two packages that contained synthetic cannabis, ecstasy and cocaine into the prison. Prosecuting, Andrew Scott, told…
FRANKFURT (Reuters) – A Berlin court on Thursday rebuffed a legal challenge to the insolvency filing of airline Niki, which could derail the sale of the Air Berlin <AB1.DE> unit to Britain’s IAG <ICAG.L>, and referred the case to a higher court for a ruling. Niki filed for insolvency in Berlin last month after Germany’s…
A man withdraws money from an ATM at a branch of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) in Hanoi, Vietnam Nov 15, 2017. (Reuters photo) HANOI: Vietnams national assembly on Monday gave authorities the ability to declare troubled banks bankrupt, through an amendment to a law on the operation of credit organisations, the government…