Hannah Murphy in London March 2, 2018 Beaufort Securities, the struggling City broker, has been declared insolvent by the UKs financial watchdog. The move came after the Financial Conduct Authority carried out an assessment of the finances of the small-cap stockbroker, which caters largely to retail clients, and Beaufort Asset Clearing Services, its corporate client…
New Delhi, Feb 28 (PTI) Malaysian billionaire T Ananda Krishnans mobile firm Aircel today filed for bankruptcy protection from creditors, saying high debt and mounting losses, following a price war triggered by a new entrant, have led the company to troubled times. Aircel, 74 per cent owne New Delhi, Feb 28 (PTI) Malaysian billionaire T…
Thousands of cash-strapped families have sought professional help from a charity after running up a £16.2 million mountain of debt in just 12 months. Staffordshire North and Stoke-on-Trent Citizens Advice Bureau (CAB) has blamed people’s personal debt problems on low wages and rising living costs. It has left many people unable to pay their rent…
Toy store chain Toys R Us British division has filed for bankruptcy and that may put more than 3,000 employees in the United Kingdom out of work. The guardian hopes the chain can restart. Restart Toys R Us operates 105 stores in the United Kingdom and employs more than 3,200 people. The store network will…
With continuing daily headlines in the news it can be difficult to resist Brexit fatigue, but with the UK government and EU representatives at a very sensitive stage in the negotiations regarding the terms of the UKs exit from the EU, it is worth focussing for a moment on a less publicised end of the…
March 1, 2018 Troubled telecom operator Aircel Ltd filed for bankruptcy Wednesday, the latest episode in Indias telecom consolidation, marked by exits, fire sales and mergers that began with the entry of Reliance Jio Infocomm Ltd. One of Indias oldest telecom firms, Aircel filed an application at the Mumbai bench of National Company Law Tribunal…
A booming construction industry has not been enough to stop a Hawke’s Bay building company from going under – leaving dozens of homes unbuilt. About 100 subcontracting companies have also been left out of pocket. Just a month after building company owner Rob Fargher told Hawke’s Bay Today that he was “rushed off his feet”,…
JSW Steel is all set to sign a term sheet with Algerias Cevital to buy Italys second largest steel firm Aferpi for almost Rs. 600 crore JSWs senior officials are in Italy and a term sheet is likely to be signed tomorrow, a source told The Hindu. The government will announce the deal after the…
Multiple sources familiar with William Hill Australia’s accounts have confirmed the company extends large lines of credit to Mr McGrath, who bets under a pseudonym and incurs average gambling losses of about $10 million a year. Mr McGrath has not settled his debt for some time, they said, leaving William Hill owed $16.2 million on its…
The deal, which Noble says would allow it to continue operating, would hand the lion’s share of the company’s remaining value to creditors willing to participate in a new trade finance facility. That’ll include hedge funds from the so-called ad hoc group that’s underwriting the facility. What’s more, Noble’s management will receive an equity stake…