Image copyright Getty Images More than 200 Boots stores across the UK could be closed by its American owners Walgreens Boots Alliance (WBA) in a bid to cut costs. The shops – which are in areas where Boots has more than one store – are under review for possible closure. It is understood the review…
Government officials are hopeful a saviour can be found for British Steel after speaking to 80 potential bidders, saying multiple parties have expressed an interest in taking on all or part of the business. The Insolvency Service has been seeking buyers since the company collapsed last week, a financial failure that threatens the future of…
Notice along with Agenda for the 10th Meeting of the Committee of Creditors of Southern Online Bio Technologies Limited (under corporate Insolvency resolution Process) under the provisions of The Insolvency and Bankruptcy Code, 2016 read with Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Day & Date: Thursday 30th…
A court in Rotterdam declared Rerum Technics (formerly Entropia Digital bv) bankrupt on 23 May, Connection. KPN filed for the bankruptcy, after a cooperation failed and KPN claimed that Rerum Technics had payment arrears. According to the ruling, the court agreed that Rerum Technics did not meet its payment obligations. The company said it will…
Pursuant to Reg. 30(2) read with sub- cl. 16(f) of Cl. A of Part A of Sch. III of the SEBI (LODR) Regulations, 2015 and in continuation to our earlier disclosure on 16.05.2019 reg. outcome of the 3rd meeting of the Committee of Creditors (COC), whereby COC had resolved to replace the Interim Resolution Professional(IRP)…
Chinas financial regulators are stepping up penalties on banks and asset managers caught hiding bad debts as Beijing grows increasingly wary of the countrys opaque cache of unpaid loans. The strengthened enforcement underlines authorities rising concerns over a potential runaway bad debt problem at smaller banks in the country, a trend that Chinas top leaders…
In 2018, regulators forced banks to recognise the bad debt disguised as special mention loans, resulting in Rmb1.75 trillion ($372.5 billion) hitting the market for bad debt sales last year, the highest level in 20 years. The aim of such tight policy is to expose the problems at the banks to the regulators, because banks…
A liquidator has been put into WA Aboriginal resources contractor Indigenous Construction Resource Group. Set up in 2010 to create employment opportunities for regional Aboriginal communities, ICRG has undertaken work for companies including Fortescue Metals Group, Buru Energy and Roy Hill Holdings. At its peak in 2016, it had more than 150 workers on its…
Published 27 May 2019 A High Court test case which would have significantly clarified the law around debt-for-equity personal insolvency arrangements has been struck out on a technicality. The case was brought by Start Mortgages against a personal insolvency arrangement approved in Trim Circuit Court, which saw a mans mortgage written down from almost…
The GlobalDebt SettlementMarket report value has been estimated considering the application and regional segments, market share, and size, while the forecast for each product type and application segment has been provided for the global markets. The Debt Settlement report offers detailed profiles of the key players to bring out a clear view of…