Enlarge this image Containers are stacked at the Hanjin Incheon Container Terminal on Sept. 3 in Seoul. South Korea’s Hanjin Shipping company declared bankruptcy Aug. 31. Ed Jones/AFP/Getty Images hide caption toggle caption Ed Jones/AFP/Getty Images Dozens of massive container ships are stranded at sea, looking for a place to dock after one of the…
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A popular restaurant chain that closed down without warning owes the council more than £200,000, the Observer can exclusively reveal. Jimmys World Kitchen in High Street was part of a chain and outlets of that chain have racked up at least £639,000 in outstanding business rates across the country over the last three years. In…
William Evan Price was jailed at Cardiff Crown Court A TORFAEN man who took almost £50,000 from clients facing bankruptcy while working as an insolvency practitioner has been sentenced to two years in prison. William Evan Price, 69, of Park View Terrace, Pontnewynydd, appeared at Cardiff Crown Court on Monday. The name of his company…
Jimmy’s in High St, The Met Quarter, Watford A popular restaurant chain that closed down without warning owes the council more than £200,000, the Observer can exclusively reveal. Jimmys World Kitchen in High Street was part of a chain and outlets of that chain have racked up at least £639,000 in outstanding business rates across…
A popular restaurant chain that closed down without warning owes the council more than £200,000, the Observer can exclusively reveal. Jimmys World Kitchen in High Street was part of a chain and outlets of that chain have racked up at least £639,000 in outstanding business rates across the country over the last three years. In…
©AFP Dubai’s skyline, including the Burj Khalifa The United Arab Emirates is set to enact a long-awaited bankruptcy law that could protect executives at failing businesses from criminal prosecution if they enter insolvency. Under existing regulations it is difficult to liquidate companies, while individuals can face criminal action if they default on debt, causing expatriates…
The UAEs new federal insolvency law is expected to be receive final approvals “within weeks”, coming into effect from early 2017, according to Obaid Humaid Al Tayer, the Minister of State for Financial Affairs. The new law, approved by the UAE cabinet on Sunday, creates mechanisms for insolvent companies to avoid bankruptcy and liquidation, modelled…
A MAN last year found to have defamed Gwent AM Mohammad Asghar has been declared bankrupt. Mohammad Hayat was ordered to pay £45,000 to the South Wales East assembly member after he circulated a dossier containing false claims against him. Mr Hayat was also ordered to pay the same amount to Mr Asghar’s co-claimant Abdul…
Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, said on Tuesday that the government is working on a new personal insolvency law that would apply to individuals. His comments follow the news that the UAEs new bankruptcy law, which protects companies that cannot pay their debts from criminal prosecution, has been approved…