An insolvency court in Mumbai has ordered the liquidation of Bharati Defence and Infrastructure Ltd, after rejecting the resolution plan submitted by Edelweiss Asset Reconstruction Co Ltd, leaving two dozen defence vessels stranded and a clutch of lenders standing to lose as much as 11,373.40 crore the debt-laden shipbuilder owes them. More than 850 employees…
The Philippine business community was rocked on Jan. 8 by the announcement of the bankruptcy of Hanjin Heavy Industries and Construction Philippines the Korean shipbuilding company based in the country. The biggest corporate bankruptcy. This is the biggest corporate bankruptcy to ever hit the Philippines. Hanjin is the biggest foreign investor in the Subic Bay…
(Reuters) – Pearson Plc (PSON.L) said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. FILE PHOTO: The company logo is displayed outside the Pearson offices in London, Britain August 4, 2017.…
(Reuters) – Pearson Plc <PSON.L> said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have…
A Birmingham-based debt advisory firm has been bought out by personal insolvency provider Creditfix. B2C Finance, which trades as Back2Credit, is based near Sutton Coldfield. Glasgow-based Creditfix, which specialises in helping people manage personal debt, said the undisclosed deal would help it create 20 new jobs. Chief executive Paul Mason said: “We know it can…
Maines legislative committees will begin meetings with more than 2,000 bills to review. Many of this sessions bills seek to support students and relieve some of the burden of student loan debt by providing tax credits, repayment, or refinancing assistance. Building a bridge from our graduates to our workforce will ensure a strong future for…
Menswear chain Ed Harry has been placed into voluntary administration following a particularly tough Christmas sales period. KPMGs Brendan Richards and Gayle Dickerson were appointed voluntary administrators of the business on Tuesday and will immediately embark on a clearance sale of existing merchandise. Its understood all 87 stores across Australia will operate as normal while…
The Lanco Infratech counsel made a similar point as part of argument during the hearings to determine whether the corporate debtor should be admitted for proceedings under IBC. By Mitali Salian Lanco Infratech, the flagship company of the Lanco Group and once among the larger private players in the field of power and infrastructure engineering,…
A long queue of people waiting to get into Yaohan Katong on the second day of its opening on Aug 28, 1977. The Japanese department store company opened at Plaza Singapura in 1974. In 1997, its parent company in Japan was declared insolvent. Photonico is a website offering high-quality stock photos that celebrate Asian contemporary…
Gymboree is expected to close all of its remaining stores, including 13 in metro Atlanta, as part of a new bankruptcy filing, according to media reports. READ | All metro Atlanta Pollo Tropical locations have closed The company previously declared bankruptcy in 2017, closing 450 stores, including locations in Atlanta, Kennesaw and Duluth. The metro…