Diploma Groups main construction arm may have been insolvent for at least 11 months before the builder-developers $60 million collapse, according to administrators. Accounting firm Grant Thornton is recommending Diplomas creditors vote to liquidate the group and two subsidiaries instead of backing a rescue plan of controlling shareholders the Di Latte family. Diploma was put…
Former property tycoons Michael and John Taggart’s fight against being declared bankrupt centres on the firm that controls £1bn of Nama loans in Northern Ireland, it has emerged. It was revealed in the High Court that the Co Londonderry brothers are challenging Promontoria Eagle’s standing at a meeting where creditors rejected an alternative proposal. Dublin…
Interest-Rates / UK Debt Apr 27, 2017 – 04:41 AM GMT By: Nicholas_Kitonyi The UK lending market has benefited from the reduced lending rates after the interest rate was reduced to an historical low. The UK base interest rate was cut in half in August last year to 0.25% in a bid to stimulate economic…
Bankrupt former rich-lister “Diamond” Joe Gutnick has faced a court grilling over loans to a New York fraudster and Brooklyn-based community organisation. In a fiery examination at the Federal Court on Thursday, Mr Gutnick was challenged over the validity of two major debts declared in his bankrupt estate, including a $33 million debt to Nochum…
Wednesday, April 26, 2017 08.34PM / Anthony I Idigbe, Punuka Attorneys & Solicitors, November 15 2013 World Bank reports on the observance of standards and codes principles and guidelines for effective insolvency and creditor rights systems, published in October 2007, identified the following weaknesses in Nigerian insolvency law: · a lack of efficient means by…
Unum Group (NYSE: UNM) today reported net income of $229.9 million ($1.00 per diluted common share) for the first quarter of 2017, compared to net income of $210.6 million ($0.88 per diluted common share) for the first quarter of 2016. Net income includes net after-tax realized investment gains and losses on the companys investment portfolio…
Greig Cameron Scottish Business Editor Financial difficulties are forecast for Scots amid uncertain times for the economyTimes photographer James Glossop The number of Scots becoming insolvent has risen by almost a fifth, amid fears that many more are likely to face financial difficulty this year. The higher price of food and energy is expected to…
Greig Cameron Scottish Business Editor Financial difficulties are forecast for Scots amid uncertain times for the economyTimes photographer James Glossop The number of Scots becoming insolvent has risen by almost a fifth, amid fears that many more are likely to face financial difficulty this year. The higher price of food and energy is expected to…
The founder and former trustees of the collapsed charity Kids Company could be banned from holding company directorships. The youth organisation folded amid a storm of controversy in August 2015 just days after receiving a £3 million Government grant in a final bid to keep it afloat. Kids Company received more than £42 million of…
CHATTANOOGA, Tenn.–(BUSINESS WIRE)– Unum Group (NYSE: UNM) today reported net income of $229.9 million ($1.00 per diluted common share) for the first quarter of 2017, compared to net income of $210.6 million ($0.88 per diluted common share) for the first quarter of 2016. Net income includes net after-tax realized investment gains and losses on the…