Garuda Indonesia expects to launch a UK scheme of arrangement as part of a restructuring in which it is looking to remove nearly 80 aircraft from its fleet and renegotiate or cancel orders for more than 90, Cirium understands. To implement the restructuring of the groups aircraft lease arrangements and potentially its other debts, the…
Youve decided that debt settlement would be a good way to solve your mounting credit card debt woes as well as to avoid bankruptcy. But in this industry, its vital to choose an established, reputable firm to help you navigate debt settlement. Is Freedom Debt Relief a good company? Lets look. What is Debt Relief?…
Steinhoff’s legal team says the main proceedings cannot start until all the applications, including an appeal to the Supreme Court of Appeal, have been heard. Edrea du Toit The first day of a court hearing into whether retailer Steinhoff is insolvent was taken up with new intervention bids, arguments to postpone the matter, and applications…
The High Court has approved a personal insolvency arrangement (PIA) that will allow a 52-year-old man write off approximately 1.38 million in debt owed to a financial fund. Under the terms of the arrangement, Alan Jenkins, who had debts of approximately 2.5 million, will see that sum reduced to zero after he agreed to surrender…
Tuesday, September 14, 2021 The UK governmenthas announcedthat temporary restrictions on creditor action introduced in the Corporate Insolvency and Governance Act 2020 are to be phased out. These temporary restrictions were put in place to protect businesses in financial distress, as a result of the coronavirus (COVID-19) pandemic, from being forced into insolvency. The current…
Nitin Jain is the official liquidator for PSL Group — recently liquidated as a going concern. In an effort to maximise the value of a company undergoing insolvency proceedings, the bankruptcy court has allowed for liquidation of the company as a going concern. This amendment tries to stitch all the assets of the company as…
A used car salesman banned for nine years after failing to pass on 750,000 to customers from the sale of 47 vehicles. Steven Edwin Prosser (60), from Broxbourne, Hertfordshire, was appointed a director of Sell Your Car With Us in May 2016. The company sold used cars and traded from premises on Hare Street in…
The gender gap in computing is getting worse. According to the national nonprofit Girls Who Code, in 1995, 37 percent of computer scientists were women. Today, its only 24 percent. And, the biggest drop off of girls in computer science is between the ages of 13 and 17. But, a brand new event, called the…
HONG KONG/SHANGHAI, Sept 14 (Reuters) – Cash-strapped property group China Evergrande Group (3333.HK) said on Tuesday it has engaged advisers to examine its financial options and warned of default risks amid plunging property sales, sending its stock and bond prices sharply lower. The real estate giant has been scrambling to raise funds it needs to…
Property giant China Evergrande Group has said that it cannot sell properties and other assets fast enough to service its massive $300bn debts, and that its cashflow was under tremendous pressure. Only hours after angry investors besieged its Shenzhen headquarters and the company denied it was set for bankruptcy, Evergrande issued a statement to the…