(Adds details) FRANKFURT, April 9 (Reuters) – Indebted German wind turbine manufacturer Senvion said on Tuesday it was filing for insolvency but was also continuing to look at new funding options and various potential investors had shown interest. The Hamburg-based company, which has more than a billion euros of debt, said it had applied for…
In a new twist to the Reliance Communication (RCom) bankruptcy case, an appellate tribunal has said if insolvency proceedings are revived against the beleaguered telco firm, then Ericsson will have to pay back a large settlement amount it has received earlier. This observation was made by a two-judge bench, headed by Justice SJ Mukhopadhaya, of…
In a press briefing on Tuesday, the Independent Electoral Commission of SA (IEC) announced they had dismissed nearly all the objections they had received against the candidates nominated by political parties contesting this years elections. Only one objection was upheld, which came from the PAC against its own candidate,Alton Mphethi, due to a criminal conviction,…
Im an American college student in my twenties, which means three things for certain. One: I am helplessly addicted to my phone. Two: I am embarrassingly bad at writing in cursive. Three: I have watched entirely too much of The Office. The Office is a great show, and like many other sitcoms, it has a…
In a notice released late on Monday, the Independent Electoral Commission of SA (IEC) announced its decision to dismiss all objections raised against the right of Black First Land First leader Andile Mngxitama and party spokesperson Lindsay Maasdorp to become MPs. Both have courted controversy on numerous occasions for racially divisive rhetoric in service of…
The most recent bankruptcy study from personal insolvency firm Hoyes, Michalos & Associates revealed an outsized risk of insolvency among millennials in Ontario. As if that news werent concerning enough, the report also points to a significant risk within another important group. We continue to see a rise in women filing insolvency. As of 2018,…
HALIFAX In an April 3 story about the QuadrigaCX insolvency process, The Canadian Press incorrectly stated that if the company was transitioned to the bankruptcy process, creditors would be allowed to file lawsuits against the company and its affiliates. Though a court-ordered stay of proceedings would be lifted, that move would only be temporary, and…
In a letter sent to the judge that ruled against his company in a lawsuit filed by one of its customers, Frama Seafoods Amado Rodriguez said his company is at risk of insolvency. Pinecrest, Florida-based Frama Seafood was ordered to pay more than USD 1 million (EUR 891,400) in compensation after California Superior Court Judge…
The National Company Law Appellate Tribunal said it would decide on the insolvency of debt-ridden Reliance Communications Ltd. The Anil Ambani-led Reliance Group company has pleaded with the tribunal to go ahead with insolvency proceedings against it as it is unable to pay dues to its lenders. Swiss telecom gear maker Ericsson, which received its…
UK Renewable Investments (AD) plc was wound up on 3 April 2019 by District Judge Khan in the Business and Property Courts in Manchester. The Official Receiver has been appointed as liquidator. In considering the petitions to wind-up the company, the court heard that between July 2015 and September 2016 UKRI sold corporate bonds to…