The NBU Board has declared Misto Bank JSC insolvent after its capital ratios fell by at least 50% from the required minimum levels. The decision was approved in order to protect the interests of depositors and creditors of the bank. The problems with equity in the bank occurred due to the loss of one of…
Business & Development Its never good news when the bankruptcy business is booming. By Christianna McCausland | December 2020 Illustration by Juan Bernabeu As a bankruptcy attorney, Dennis J. Shaffer sees people at one of the most challenging times in their lives. And with the pandemic-hobbled economy, hes getting busier. Take, for example, his client…
The court ordered parliament sitting this morning was chaotic with insults, threats and words exploded out from both sides of the house. The shouting and heated exchanges resulted from when Speaker Job Pomat sought parliament leave to have the sitting adjourned while he sought clarification from the Supreme Court if Kerowagi MP Bari Palme is…
The founder of office provider IWG, Mark Dixon, faces a legal challenge as landlords battle his decision to put the Jersey-based subsidiary which guaranteed their rents into bankruptcy. IWG angered landlords with the move in October, which came after it drew a 644m dividend from the Regus plc subsidiary last year. The decision effectively left…
New data from Coresight Research reveals American retailers have announced 8,400 closures this year. Ascena Retail closed the most locations, at nearly 1,200. Coresight anticipates closures will snowball and set a new record this year, breaking the 2019 record of 9,302 closures tracked by the firm. Business is equally bleak for the US restaurant industry.…
Download CSVShow datatableNumber of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days Number of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days December 332 2017 January 336 2017 February 292 2017 March 304 2017 April 263 2017 May 281 2017 June 300 2017 July 266…
Chinese private shipyard Taizhou Kouan Shipbuilding has emerged from bankruptcy after new investors took control of the yard. The yard entered into a court-led restructuring after it was declared bankrupt by a local court in August due to a financial crisis. Two local companies, Taizhou Changqin Ship Engineering and Taizhou Changyue Enterprise Management, have taken…
SPANISH bankruptcy law, in relation to insolvency and elimination of debts, stipulates that there are a number of actions which are unacceptable and which if proven can negate the insolvency process. Guilty Insolvency — Advertisement — If a bankruptcy is declared guilty, it means that it is understood that the bankrupt or insolvent is responsible…
The company expects improvement in the asset portfolio quality as well as cash flow of the company, due to various strategic initiatives including measures for recovery were initiated during FY20 TopicsIFCI|Buzzing stocks|Markets SI Reporter | Mumbai Last Updated at December 10, 2020 15:29 IST Shares of IFCI hit a 52-week high at Rs 10.75 on…
Jacob Klein After many attempts by the company to stave it off, Insight Terminal Solutions (ITS) has been declared bankrupt in a Kentrucky court. ITS had been at the helm of the effort to store and transport coal through the old Oakland Army Base for years now. John Siegel, CEO of the now bankrupt ITS,…