A court declared Czech hard coal miner OKD bankrupt on May 9. The move leaves creditors two months to file claims, with a meeting set for August 10. Meanwhile, the future of the companys 13,000 or so employees rests with the state, with the court saying OKD could be broken up or restructured. New World…
Fashion designer to the stars, Johanna Johnson, is struggling to sweep staff salary issues that led her enterprise into liquidation under the red carpet (Source: A Current Affair) Embattled fashion designer Johanna Johnson has registered a new company despite her old business being in liquidation and her employees claiming theyre owed tens of thousands of…
Written by Khushboo Narayan | Published:May 10, 2016 12:48 am Being bankrupt is a state of inability to repay debts to creditors. (Illustration by: C R Sasikumar) Lok Sabha last week passed The Insolvency and Bankruptcy Code, 2015, a law aimed at speedy winding up of insolvent companies, lowering NPAs, and redeploying capital productively. KHUSHBOO…
A convicted murderer has been declared bankrupt after being sued for damages by his victims family. William Kean is serving a life sentence after being found guilty of killing 80-year-old Jenny Methven in February 2012. Kean was declared bankrupt at Perth Sheriff Court after withdrawing his defence against the claim for compensation by Mrs Methvens…
R3 proposals for a new moratorium for insolvent companies has clear benefits for distressed companies and their directors but its creditor appeal will depend on the details Under R3’s proposals, published in April, a company could file for three weeks of protection from its creditors – which could be extended to six weeks…
May 9 Abelco AB : * Board of subsidiary Abelco Nordic AB has in the district court in Uddevalla requested that the company be declared bankrupt Source text: bit.ly/1Okaz87 Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSL5N18644P
Murderer sued by victim’s son is declared bankrupt 9 May 2016 From the section Tayside and Central Scotland Image copyright Supplied Image caption William Kean is serving a life sentence for the murder of Jenny Methven A convicted murderer has been declared bankrupt after being sued for damages by his victim’s family. William Kean is…
Creditors of the troubled KVV Liepajas Metalurgs metallurgy company are seriously considering the possibility of filing an insolvency claim against the company, Latvian Economics Minister Arvils Aseradens (Unity) said on the public Latvian Radio on May 6th, cites LETA. He said the Economics Ministry was working on possible scenarios for further actions by the Latvian…
What is refreshing about the new policy framework to resolve insolvency and bankruptcy in corporations is that it doesnt seek to rescue a business at any cost as existing regulations, such as a SICA, attempt to do. (Reuters) The efficacy of any mechanism can be gauged only after it has been put in place…
Dominic Chappell bought BHS from High Street tycoon Sir Philip Green He was bankrupted over fee dispute with Foxtons and marina development Now claims that he was also bankrupted a third time over 20 years ago Mr Chappell denies claims and said he had been victim of a ‘witch hunt’ By Holly Black for the…