CHINA ordered a clampdown Thursday on the mega sums being shelled out on foreign football stars and their salaries after the high-profile signings of Oscar and Carlos Tevez. There has to be action against irrational investment and the government will regulate and restrain high-priced signings and make reasonable restrictions on players high incomes, a state…
Published on Friday, January 6, 2017 A report coming out later this month will show that nearly four in 10 travel companies are now in ‘significant’ financial distress. Data analysed by insolvency firm Begbies Traynor found 2,679 businesses in the travel sector – thought to be made up of around 7,000 companies – were experiencing…
The travel industry is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs. According to data from insolvency firm Begbies Traynor, 2,679 businesses in the travel industry are currently experiencing significant distress, a 10 per cent increase compared to the previous quarter and a four per…
Photo by LendingMemo.com, via Flickr Continental Breakfast: your daily update on whats happening in Europe. Law firms in the U.K. could soon face a glut of insolvency and restructuring work, with data suggesting that thousands of companies in the travel sector are at risk of going bust. Insolvency consulting firm Begbies Traynor says that 2,679…
The sister of bankrupted former billionaire Nathan Tinkler is facing bankruptcy after being accused of entering into uncommercial transactions and breaching her directors’ duties. Donna Dennis is alleged to have sold off furniture belonging to two Tinkler family companies for a little more than $100,000 despite being notified that the companies were insolvent due to…
The Department of Justice has urged anyone facing up to mortgage difficulties to engage fully with the courts process to ensure a fair hearing following claims thousands of home repossession orders may be open to challenge. Fianna Fáil has called on the government to take urgent action after the Master of the High Court said…
On December 18 during a telephone conversation with Bike Europe MIFA owner and CEO Heinrich von Nathusius denied that there were financial difficulties, as was reported by a local newspaper called Volksstimme. He said, We have paid the final amount of just over 2 million euro last week as part of the finalization of the…
Agencies under ICAI, ICSI see brisk registration in the first month Around 600 senior executives have registered to operate as insolvency professionals (IPs) under the new bankruptcy code, in just a months time. This first set of professionals, who will have to qualify in an online ‘Limited Insolvency Exam’, will…
Government plans to introduce a special court to sensitively handle” mortgage arrears and personal insolvency are facing significant constitutional issues according the Department of Justice. The government legislation programme for autumn 2016 had indicated that the plan would go under ‘Pre-Legislative Scrutiny’ by November 2016. However Fianna Fáil spokesperson on finance, Michael McGrath yesterday said the…
The Department of Justice has urged anyone facing up to mortgage difficulties to engage fully with the courts process to ensure a fair hearing following claims thousands of home repossession orders may be open to challenge. Fianna Fáil has called on the government to take urgent action after the Master of the High Court said…