Czech coal miner OKD, the insolvent unit of New World Resources (NWR) , urgently needs a state loan of up to 1 billion crowns ($42.1 million) to keep operating, Industry Minister Jan Mladek said on Wednesday. Mladek, in a statement, said that a state-backed loan was the only option for OKD to secure financing to…
To find out, I spoke with Jeffrey Carhart, partner of the law firm Miller Thomson. He is a respected expert in the area of corporate bankruptcy and insolvency. According to Carhart, perhaps the simplest way to consider the differences is to think about who is in control of the insolvent company? Generally speaking, the Companies…
But in the bankruptcy cases, West Virginia has been pressuring the industrys lenders to share more of the responsibility for mine reclamation and water remediation, arguing that they exert great influence, if not outright control in some cases, over the bankrupt mining companies. Still, figuring out who holds the industrys debt can involve a cat-and-mouse…
4:50 PM ET Mike FishESPN Senior Writer Close Investigative reporter for ESPN.com 10 years at The Atlanta Journal-Constitution Twice nominated for a Pulitzer Prize LOS ANGELES — For the second time in as many weeks, Phil Mickelson‘s connection to sports gambling surfaced in a federal criminal proceeding, this time on Monday, when a California man…
Philip Chiyangwa Dingilizwe Ntuli Sports EditorLEGAL experts say the local football leadership has plunged itself into a seemingly intractable quagmire over the rushed decision to announce the dissolution of Zifa and formation of the National Football Association of Zimbabwe (NFAZ) without following proper legal channels. An extraordinary congress convened at Zifa Village on Saturday resolved to…
Disaster: Bankrupt businessman Dominic Chappell bought BHS for £1 Bankrupt businessman Dominic Chappell, who bought BHS for £1, will make his first public appearance since the store collapsed in to administration tomorrow. The one-time racing car driver will be quizzed by MPs over his involvement in the scandal which has seen 11,000 staff lose their jobs,…
8:50 PM GMT LOS ANGELES — For the second time in as many weeks, Phil Mickelson‘s connection to sports gambling surfaced in a federal criminal proceeding, this time on Monday, when a California man was sentenced to 12 months and one day in prison for transferring nearly $3 million of the pro golfer’s money to…
The High Court in Blantyre has blocked the Reserve Bank of Malawi (RBM) from taking over management of a local insurance company, Prime Insurance Limited. Charles Chuka governor of Reserve Bank -Announced take over of Prime Insuarance At a news conference on Friday in Lilongwe, RBM announced it was putting the insurance company under its…
Scotland has made the biggest progress in personal insolvency levels in the UK, with 15 of the 20 most improved areas north of the Border. Overall, personal insolvencies fell by 13% across the UK between the first quarters of 2015 and 2016. Perth had the fourth best improvement with a fall from eight to three…
The Latvian Competition Council has granted permission to Latraps agricultural co-operative to gain a controlling interest in Latvijas Piens dairy company, LETA was told at the council. Upon assessing the takeover deal, the Competition Council concluded that it will not cripple competition in the market. In March, Latraps increased its stake in Latvijas Piens to…