The Bucharest Court of Appeal decided to permanently close the insolvency procedure of Hidroelectrica, one of the most profitable state-owned companies, almost five years after the company filed for insolvency, reports local News.ro. When the insolvency procedure was opened, Hidroelectrica had 11 ongoing bilateral contracts for electricity supply at prices considered damaging to the company.…
An idle oil pump jack is seen in a field near Leduc, Alta. / Financial Post CALGARY Major Canadian oil companies could face tens of millions of dollars in liabilities as a result of tiny Lexin Resources Ltd.s insolvency and its inability to clean up over 1,500 oil and gas wells in Alberta, which has…
Invest in RRSPs or other vehicles that are judgment-proof. If the worst happens you still have retirement funds The advice in this column is easy to put into place and will offer protection for personal assets in the case of a business failure. But taking it to an extreme, one could creditor-proof to the point…
CALGARY Major Canadian oil companies could face tens of millions of dollars in liabilities as a result of tiny Lexin Resources Ltd.s insolvency and its inability to clean up over 1,500 oil and gas wells in Alberta, which has doubled the number of orphan wells in the province. Receivership documents reviewed by the Financial Post…
MARTIN VAN BEYNEN/FAIRFAX NZ Dave Henderson is seeking damages after it was found his personal documents were accessed unlawfully. An Official Assignee solicitor unlawfully accessed Christchurch developer Dave Henderson’s personal information, including correspondence with a “well-known” politician about a diet programme. Henderson, a discharged bankrupt who famously battled Inland Revenue in the mid 90s, sued the Attorney-General over…
Former Munster and Ireland rugby star Frankie Sheahan has been declared bankrupt in the High Court, owing over 3.5m. The 40-year-old former hooker, who was forced to retire from the game at the age of 32 because of injury, had declared an interest in eight buy-to-let properties in Cork that he had bought between 2005…
Iron Gates hydropower plant. Author: Espino Family. Licence: Creative Commons, Attribution. BUCHAREST (Romania), April 3 (SeeNews) Romanian hydropower producer Hidroelectrica has exited insolvency, paving the way for a long awaited listing on the Bucharest bourse, seen as the biggest in Romania’s history, its judicial administrator Euro Insol said on Monday. The Bucharest Court ruled on…
Five years after the opening Hidroelectricas insolvency procedures, on 30 Marc 2017 the Bucharest Court of Appeal gave the decision no 125 in the case 22456/3/2012, closing definitively the insolvency proceedings of the most important energy producer in Romania. At the opening of procedures, Hidroelectrica had overall losses of over EUR 170 in the 2011-2012…
Karen Millen, founder of the eponymous womenswear chain, has been declared bankrupt by the High Court. It is understood the bankruptcy relates to unpaid taxes. It comes after Millen lost a legal dispute last year over the use of the Karen Millen name. She wanted to use her name on homeware products in China and…
Experts are seeing three Asian countries push for a bigger slice of the insolvency market, taking concrete steps, including reforming national insolvency regimes, to attract more business. The insights come from John Batchelor, FTI Consulting senior managing director in Hong Kong, Maria O’Brien, Baker McKenzie partner in Sydney, and Miles Grant, ANZ Lending Services senior…