The estate of the late Russian oligarch Boris Berezovsky is hopelessly insolvent, a High Court judge has said. Mr Justice Arnold says about £34 million remains in the estate but creditors claims run into hundreds of millions of pounds. The judge outlined financial facts in a ruling on the latest stage of litigation involving insolvency…
The Gibraltar Financial Services Commission (GFSC) has directed Enterprise Insurance Company, under section 105 of the Financial Services (Insurance Companies) Act, to cease writing any new insurance business or contracts after the company was declared insolvent. GFSC has also issued certain directions under Section 100 of the Financial Services (Insurance Companies) Act that prohibits Enterprise…
GRACE Mugabe turned 51 Saturday to gushing praises from officials and insolvent government owned companies while the State media published a 12-page supplement in her honour. The Herald supplement carried adverts from struggling parastatals, which had been asked to pay for advertising despite the country’s crippling economic crisis. For the second year…
Como have been declared bankrupt due to debt payments but are hoping to appeal the decision. After putting an end to a 12 year-wait for a return to Serie B, Como were unable to sustain their position in the 2nd tier of Italian Football and are now struggling with an even bigger issue than trying…
The future of 14,000 motor insurance policies in Ireland is in confusion after the Enterprise Insurance Company, which is regulated out of Gibraltar, was declared insolvent. Established in 2004, the insurer only started selling car policies here through a brokerage network less than three years ago. It emerged late yesterday that Gibraltar regulators who had…
The Central Bank has advised 14,000 Irish motorists caught up in the collapse yesterday of a Gibralta-based insurer, Enterprise Insurance Company, to seek alternative cover. Many of the people affected may not be immediately aware, as policies were written through brokers around the country viaWexford-based insurance underwriting agency, Wrightway Underwriting. While the Central Bank in…
Introduction Pre-bankruptcy composition agreement in business continuity Pre-bankruptcy composition agreements in liquidation Third-party initiatives Additional changes Introduction By a decree of January 28 2015 the minister of justice set up the Rordorf Commission, a ministerial commission to develop and submit draft legislation designed to reform, review and reorganise the rules governing insolvency procedures in Italy…
The number of Australians becoming bankrupt or insolvent has jumped for the first time since the global financial crisis. In a week that saw business identity “Diamond Joe” Gutnick go bust, new statistics show the ranks of Australians taking financial measures of last resort has swelled. Previous slide Next slide 0% interest rates: what would it mean…
TK | 20 July 2016 Prague, July 19 (CTK) – The Czech Republic will in August apply for money from the European Globalisation Adjustment Fund (EGF) in aid of miners to be dismissed from the OKD company, it ensues from a document of the Labour and Social Affairs Ministry which the…
The Supreme Court has said that based on the Lodha committee recommendations, the all-powerful Working Committee of the BCCI will now have to make way for a smaller, more powerful Apex Council. In the next six months, Justice Lodha and his panel with work with the BCCI to set up this council that will define…