Paravion, Romanias biggest online tourism portal, has filed for insolvency and will close bavul.com, the Turkish-based portal it purchased in 2014. The company will implement a restructuring plan starting August 8. In the past year, Paravions Turkish portal, bavul.com, which represents one third of the business, recorded losses, due to the political instability and security…
Weeks after the National Company Law Tribunal, Kolkata, admitted an insolvency plea against Binani Cement filed by Bank of Baroda, ET NOW learns that top domestic cement players are making a beeline for the sought-after assets of the Brij Binani Group company in a bid to bolster their pan-India presence and a strike a potential…
The Deposit Insurance Agency of Russia has filed a lawsuit with the Arbitration Court of Tatarstan to declare Robert Musin, former Chairman of the Board of Tatfondbank detained for swindling on an especially large scale, bankrupt. The plaintiff requires to recognize the banker insolvent because the total sum of financial claims filed against him some…
Bank representatives are to meet here on Monday for a review of the work done on the resolution process under the Insolvency and Bankruptcy Code (IBC). It would be the first such exercise since the Reserve Bank of India (RBI), on June 13, directed action on 12 big-size bad loan cases. The…
Commerce Ballarat’s David Wright says insolvency has many causes. Ballarat recorded 45 new personal insolvencies in the last three months to make it a regional hot spot for debt. It puts Ballarat close to Geelong, with 59, and well ahead of Bendigo, with 29. There were also seven new business related insolvencies in the city with…
NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority. Across the Hunter there were 215 cases of personal insolvency in the June quarter of 2017, with Newcastles 43 debtors the largest in the state outside of Sydney. Across Australia there were 7,729 debtors who entered a…
The warehouse in Melbourne’s outer north was supposed to be filled with scrap metal and broken glass, overflow storage for a nearby recycling business. It wasn’t until the company collapsed into insolvency six months later, that the warehouse doors were opened to reveal a potential health and environmental disaster on Melbourne’s suburban fringe: pallets of…
The warehouse in Melbourne’s outer north was supposed to be filled with scrap metal and broken glass, overflow storage for a nearby recycling business. It wasn’t until the company collapsed into insolvency six months later, that the warehouse doors were opened to reveal a potential health and environmental disaster on Melbourne’s suburban fringe: pallets of steel drums…
… Read the full article at: http://www.startribune.com/cargill-owed-715-million-by-bankrupt-azerbaijani-bank/438605203/
A debt resolution practitioner has taken issue with comments by Deputy Jackie Cahill on the levels of debt and insolvency in Tipperary and whether or not the county tops the chart. Under figures released by the Insolvency Service of Ireland, Tipperary was named as being seventh in the league for court approved debt resolution notices,…