London Angola has secured three years of payment relief from Chinese creditors and expects to get more than $700m in its next tranche of International Monetary Fund (IMF) financing in the coming days, its finance minister said on Monday. Africa’s second-largest oil exporter has been seeking payment relief as it strives to overcome the hit…
NEW DELHI : Unviable companies liquidated under the Insolvency and Bankruptcy Code (IBC) far outnumbered those rescued since the new bankruptcy framework came into force four years ago, indicating the challenges facing the economy. Official data showed that almost in every quarter since January 2017, the number of businesses that were ordered to be liquidated…
A German group has turned its attention to the outlets of the recently declared bankrupt retailer Mega World. Negotiations with the trustees are starting today. Piocheur According to the liquidator Thierry Lammar, the potential buyer is a major German player “who wants to take advantage of this opportunity to expand on the Belgian market.” Kanaal…
In the Square, Chloe tells Brady that Philip is laundering money for the mob and they need his help. Philip tries to deny it, but Chloe continues to make her case. Brady offers his help for Chloes and their familys sake. Philip relents and tells Brady his story about his gambling debt and laundering money…
The nation’s number two carrier collapsed into administration in April last year after the COVID-19 pandemic and associated border closures led to steep falls in domestic and international travel. The VAIH shell company also went voluntary administration but was revived shortly after US-headquartered Bain took control of Virgin in November following a fierce bidding war…
Around one in five prisoners is involved in gambling, especially sports betting, according to the first survey of its kind. The Forward Trust questioned 224 residents at English mens and womens prisons and found that 22% admitted to having gambled in prison during the previous 12 months. As well as sports including football, boxing and…
A PRIVATE hire taxi driver who was caught with almost 300,000 of high-purity cocaine hidden in his car was today jailed for three years. Gordon Mitchell, 36, was snared near to Gorbals Leisure Centre in Glasgow on December 2, 2019. Police had spotted him doing a number of three-point turns in his Volkswagen Passat and…
By Reuters Staff 2 Min Read LONDON (Reuters) – The Paris Club of international creditors said on Monday it had accepted a request from Kenya for a debt-servicing suspension from January to the end of June. Kenya is committed to devote the resources freed by this initiative to increase spending in order to mitigate the…
Credit card debt five times more problematic than other types of debt reported; COVID-19 pandemic called out as factor in over half of personal insolvency filings since March 2020 VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) — Sands & Associates, BCs largest firm of Licensed Insolvency Trustees serving individuals and small businesses, released the…
John Tan, Manager, Strategy & Transactions, EY Luxembourg, Christophe Vandendorpe, Strategy & Transactions leader, EY Luxembourg In this article, Christophe Vandendorpe and John Tan, who are restructuring and liquidation practitioners at EY Luxembourgs Reshaping Results team, answer a question often asked by businesses: how to preserve value in a distressed situation? My business is failing…