Former Lugari MP Cyrus Jirongo has been declared bankrupt by a Kenyan court after he has been unable to pay hundred of millions shillings in debt. Commercial Court judge Olga Sewe on Monday made the ruling, following a case in which businessman Sammy Kogo had sued to have Jirongos estate put under receivership after the…
If you have a ticket to fly to Germany on Air Berlin, you may want to call your travel agent before you pack your lederhosen. The budget airline is ceasing operations by the end of the month, according to Reuters. The move is not exactly a surprise, as the company declared insolvency back in August…
Cyrus Jirongo (Photo: Courtesy) SUMMARY Businessman sues former presidential candidate for breaking promise Judge makes the decision after finding that the politician was unable to pay a Sh700 million debt Former Lugari MP Cyrus Jirongo was has been declared bankrupt after a judge found he was unable to pay a debt running into hundreds of…
NEW DELHI: The Insolvency & Bankruptcy Board of India has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with the interest of all stakeholders. This move is aimed at protecting the interests of home buyers of real estate players such as Jaypee Infratech and…
BERLIN (AP) Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible…
Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible after October…
Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible after October…
The National Company Law Tribunal (NCLT) will consider admitting an insolvency case against Reliance Communications (Rcom) filed by Tech Mahindra on 2nd of November. The IT company had filed an insolvency petition for a recovery of Rs 8.2 crore from the Anil Ambani owned telco and its two units, few days after Rcoms deal with…
By Njiraini Muchira In 2013, Nakumatt Holdings launched its in-store packaged goods under the Blue Label. Its management believed this was a milestone in its efforts to dominate the retail sector in the region. Managing director Atul Shah was categorical that customers would no longer be held to ransom by suppliers, as its products were…
LONDON (Reuters) – European shares rose on Monday, with Germanys DAX touching a record high and Spains IBEX its highest for a week, as political risk concerns over Catalonia eased a day after a demonstration in Barcelona against independence. Following four consecutive weeks of gains, the pan-European STOXX 600 rose 0.2 percent while the DAX…