Sri Lanka is ‘bankrupt,’ says Prime Minister Ranil Wickremesinghe

Colombo, Sri Lanka CNN  —  Sri Lanka is “bankrupt,” Prime Minister Ranil Wickremesinghe said Tuesday, as the country suffers its worst financial crisis in decades, leaving millions struggling to buy food, medicine and fuel. Wickremesinghe told lawmakers that negotiations with the International Monetary Fund (IMF) to revive the country’s “collapsed” economy are “difficult,” because the…

Michael King of MFS made bankrupt

Michael King, the former equestrian-centre owning head of funds management group MFS, has been made bankrupt in a stoush with the corporate regulator. The bankruptcy was declared on Monday, with a judgment also revealing the Australian Securities and Investments Commission chalked up nearly $15 million in costs fighting multiple cases involving Mr King and other…