Rickmers has filed for insolvency after it announced a restructuring plan had failed to win approval of bondholder HSH Nordbank. The German shipping company, a 114-vessel charterer and owner of container, dry bulk and Ro-Ro ships, announced in a company email that the insolvency application had been filed and that the court had received it. It added that it could not…
Kelantan state assembly speaker says Article 31 (1) of the state constitution bars a person who has not resolved his bankruptcy status from being an assemblyman. PETALING JAYA: The Nenggiri state seat, which falls under the Gua Musang parliamentary constituency in Kelantan, has been declared vacant after its incumbent Mat Yusoff Abdul Ghani was declared…
Galway Bay fm newsroom 190 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years.Thats according to the latest report from the Insolvency Service of Ireland.The report cover the period from the beginning of 2014 to the first quarter of this year.It reveals that 84…
The UKs Pensions Regulator (TPR) has agreed an arrangement with Hoover to allow the household appliances company to offload its main pension scheme to the countrys lifeboat fund. TPR confirmed this week that it had permitted a regulated apportionment arrangement (RAA) with the UK arm of Hoover as the funding needs of the scheme threatened…
Galway Bay fm newsroom 190 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years. Thats according to the latest report from the Insolvency Service of Ireland. The report cover the period from the beginning of 2014 to the first quarter of this year. It reveals that 84 people…
International firms announce mergersTwo international law firms have announced new tie-ups, one in Singapore and Brunei; the other crossing the Atlantic. Eversheds Sutherland has merged with Harry Elias Partnership to form a new firm operating in Singapore and Brunei after many years of working closely. Eversheds Harry Elias is live as of 1st June 2017…
Former WA One Nation Senator Rod Culleton. ANTI-FARM foreclosure crusader Rod Culleton has asked the federal Department of Finance for an extension on the deadline for him to request a waiver of his commonwealth debt of about $700,000. Last week Special Minister of State Scott Ryan revealed former SA Family First Senator Bob Day who…
Ashurst partner Ross McClymont has become the first lawyer to be appointed as president of the Australian Restructuring Insolvency and Turnaround Association (ARITA). With over 25 years experience, McClymont leads Ashursts restructuring, insolvency and special situations group in Australia. He is also the firms managing partner in Melbourne. ARITA, which represents 84% of registered liquidators…
You have an idea, a concept, you want to develop into a startup or small business that can grow, borrow money or attract funders, employ people, issue shares, and do all the things that a business can do until you have a company the size of Atlassian, or an app that enables you to do…
(Adds details, background) By Jan Schwartz German shipping firm Rickmers filed for insolvency on Thursday, a day after its largest lender HSH Nordbank rejected a restructuring plan, the company said. Rickmers is the most high-profile casualty in Germany’s shipping sector and another example of the deepening turmoil in a global container industry struggling with an…