by Nelson Del Castillo and Elodie Cuzin in Washington – AFP on June 11, 2017, 4:00 pm It’s complicated: Puerto Ricans vote on knotty US relationship San Juan (AFP) – To become a true US state, to choose independence or to maintain the status quo: Puerto Ricans will on Sunday mull their political future in…
A court in Aruba has declared Insel Air Aruba bankrupt, the Curacao Chronicle has reported. According to the newspaper, the court granted the airline a deferment of payment for a few months and it was not operating flights anymore. However, according to the report, there was no chance of selling the airline or restarting its…
The introduction of company director identification numbers to help prevent the deliberate liquidation of companies to avoid paying workers’ entitlements and tax is being considered by the federal government. A Federal Treasury spokeswoman told Fairfax Media the introduction of a director identification number had been recommended by a Productivity Commission inquiry and a Senate economics committee inquiry into insolvency…
actions against him are stayed,” said Justice Smith. It allows the debtor to avoid going to court. Smith said debtors “may come to the office and show us the details of their business. Once we are satisfied that they are insolvent, we will look now at the proposal, which is the scheme to deal with…
The State Police have detained Trasta Komercbanka liquidator Ilmars Krums and another insolvency process administrator, Maris Spruds, sources tell LETA. Krums’ mobile phone is switched off. When LETA tried to call Spruds at his office, Spruds’ representative said that he was out of office and would be away on vacation for a couple of days,…
ORANJESTAD, WILLEMSTAD – The Aruba court has declared the airline InselAir Aruba bankrupt. The court had granted the airline a deferment of payment for a few months and it did not operate flights anymore. There was no chance of selling the airline or restart operations. InselAir Aruba did not work on a stabilization plan, nor…
The bitter four-year battle between hybrid holders and ordinary shareholders at paper distributor Spicers is finally headed to a sensible resolution that should pave the way for a re-rating of this beaten-down stock. After multiple failed attempts to resolve a problem that left the company’s strategy completely paralysed, Spicers shareholders and hybrid holders will next…
A candidate contesting the Kerowagi seat in Simbu has been declared insolvent by the National Court in Port Moresby. The Court found Bari Palma guilty of failing to pay the taxed costs of nearly K300,000 following an election petition against sitting MP Camilus Dangima. Palma was declared bankrupt after being financially incapable of meeting…
KOLKATA: Burn Standard, India’s largest railway wagon manufacturing company in West Bengal, said on Wednesday that it cannot cover its debts and has filed for insolvency last month. “For about 23 years, we were trying to bring back the company’s lost glory. But even after all our efforts the company couldn’t clear long pending debt.…
Kolkata-based steel company Ramsarup Industries has filed for insolvency in an attempt to restructure its finances. The company has filed for insolvency under the Insolvency and Bankruptcy Code (IBC), 2016, which was brought in to ensure timely restructuring of companies and help banks recover loans. The company has a debt of around Rs 2,000…