A new poll says the number of Canadians who are $200 or less away from financial insolvency at month-end has jumped to 46 per cent, up from 40 per cent in the previous quarter, as interest rates rise. A survey conducted for insolvency firm MNP Ltd. in December also found that 31 per cent of…
Falcon Tyres, previously owned by Ruia Group, may end up liquidated after failing to attract any bidders for takeover of the stressed assets. The company is currently undergoing insolvency resolution process in the Bengaluru Bench of the National Company Law Tribunal (NCLT). In case of liquidation, lenders are seen taking at least a 52…
Soon after the SBI put on sale its loan exposure in bankrupt Essar Steel, the government on Monday held a meeting to review the progress in the 12 biggest default cases and urged the bankers to take up issues of delay with the higher authorities. “Bankers have been suggested to take up issues related…
GERMANY: RailRunner Europe GmbH has filed for insolvency, with the bankruptcy court of Hamburg appointing Dr Susanne Riedemann of specialist law firm Prof Dr Pannen Rechtsanwlte as preliminary insolvency administrator on January 18. The RailRunner Europe management said they intend to reorganise and restructure the company. The European subsidiary of US holding company RailRunner…
Hundreds of UK travel agents and tour operators could go out of business within three years, accordingto research commissioned by Radio 4s consumer programme, You and Yours. The BBC programme asked the insolvency firm Opus Restructuring to analyse Company Watch data on the finances of almost 4,000 travel firms. … Read the full article at:…
With the reference to our earlier intimation notice dated 18th January, 2019 for 14th meeting of the Committee of Creditors (COC) which was scheduled to be held on 22nd January, 2019 at 03:00 pm, we hereby inform you that the same meeting has been rescheduled on Tuesday, 22nd January, 2019 at 10:45 am at the…
MNP Consumer Debt Index Canadians more worried about debt, interest rates and personal finances compared to September. MNP Ltd. Number of Canadians who say they dont make enough to cover their bills and debt obligations increased by 7 points to 31% Number of Canadians within $200 of insolvency increased by 6 points to 46% Number…
Smithfield Foods has made a raft of changes to its leadership structure in a move to unify all its operations, brands, and more than 54,000 employees globally under one corporate umbrella. Virginia-headquartered Smithfield said the new structure aims to in infuse innovative ideas in all aspects of the company and heighten its strategic focus. The…
Yet another iconic Australian fashion brand has fallen victim to the ailing retail sector, with sportswear manufacturer Skins on the brink of collapse. The company has applied for bankruptcy in a Swiss Court, with chairman Jaimie Fuller confirming the news and revealing his devastation in a lengthy public statement. The threat ahead for axed Karl…
teamwork business woman accounting concept financial in office On 21 January 2019, Change Financial Limited (ASX: CCA), an information technology company who develops a digital banking platform for peer-to-peer transfer and other day-to-day banking tool announced that restructuring of its mobile banking business. As a result of this restructuring, there a downfall seen in the…