The chair of a committee probing the collapse of BHS has asked the regulator whether it can seize Sir Philip Greens assets, which include his multimillion pound yachts, to plug a pensions shortfall. In a letter to Lesley Titcomb, chief executive of The Pensions Regulator, MP Frank Field asked if the regulator could acquire assets…
The care home industry is in an even worse financial state than feared after a revision of government data revealed that nearly 100 more such businesses than previously thought have collapsed since 2010. The release of the figures has heightened calls for Philip Hammond, the chancellor, to offer financial support to care homes in the…
Nov. 22, 2016 11:00 a.m. ET Small companies in Europe will find it easier to bounce back under new rules proposed by the European Commission as it takes the first step toward harmonizing the blocs disparate insolvency framework to boost entrepreneurship and growth. The plan, launched by the European Unions executive arm Tuesday, stipulates that…
Portuguese TV channel Economico TV, owned by New Media (part of Ongoing), has filed for insolvency, according to information published on the Citius portal, reports Jornal de Negocios. The creditors in the process are Lisgrafica and ST&SF. The decision comes after Ongoing Strategy Investments was declared insolvent in August, followed by liquidation in October.…
BELEAGURED WA One Nation Senator Rod Culleton is in more hot water with Queensland Police to investigate an alleged threatening letter he wrote to a magistrate. Queensland Attorney-General Yvette DAth yesterday released a statement saying she had referred the letter Senator Culleton wrote to the magistrate at Cairns Magistrates Court to the Queensland Police Commissioner.…
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THE Deposit Protection Corporation (DPC) plans to institute a forensic audit into Tetrad Investment Bank as part of efforts to establish reasons behind the collapse of a number of banks in Zimbabwe in a bid to punish the culprits who have prejudiced depositors millions of dollars, businessdigest has learnt. By Kudzai Kuwaza Tetrad Investment Bank…
Click to enlarge In the first half of 2016 Weatherford (NYSE:WFT) raised so much capital it made my head spin. In March the company raised $630 million in equity; months later it raised $2.7 billion in debt. The $3.3 billion in fresh capital shored up Weatherford’s balance sheet, pushed back near term principal payments, and…
In what may be construed as a political move to target dissenting voices of opposition leaders, the Lusaka High Court has virtually declared outspoken and volatile UPND lawyer bankrupt. The court has ordered that Mushipes property be repossessed in a matter where she failed to settle a loan. According to available court records, the High…