The streaming wars have claimed their first victim, with homegrown Quickflix going into voluntary administration. The Perth-based streaming service, founded 12 years ago by CEO Stephen Langford has today appointed Ferrier Hodgson as administrators and blamed Channel 9 and Fairfax for its demise. Despite Quickflix being first to the streaming market and holding a leadership…
Share Tweet Share Share Email Every company today is looking for a way of avoiding being bankrupt because this affects their services beyond their expectations. Bankruptcy or insolvency is a situation at which you will not be able to settle those that you owe. Insolvency does not start one day so this means that the…
A study by CITR shows that over 50 percent of companies of impact in the Romanian economy (having assets exceeding EUR 1 million) are in difficulty. Although the number of insolvency cases has declined in the past three years, over 50 percent of companies falling into insolvency reported a double loss and an increase in…
THE number of insolvency cases in Cork has more than doubled in 2016 as bankruptcy rates fall. New figures issued by the Insolvency Service of Ireland show that 53 personal insolvency arrangements (PIAs) were filed in Cork between January and March, more than double the number for the same period last year. The shift away…
NWR’s bondholders have refused to extend the covenant waiver further and have declared the group in default of its debt obligations. By Robert Anderson in Prague April 25, 2016 Bondholders and majority owners of London-listed New World Resources (NWR) declared the Czech coalminer in breach of its debt convenants on April 25… Read the full article…
A judge has declared Daniels shopping complex in amrun as insolvent and ordered it to be closed down. Legal action was taken filed in 2014 by one of the owners creditors, Panta Contracting Ltd, over an outstanding debt of 1.5 million. The court heard that, apart from this debt, the owners of…
British retailer BHS could file for insolvency tomorrow, 25 April, putting thousands of British jobs are on the line. The company employs 11,000 people and operates 164 stores in the UK. Despite ongoing talks with Sports Direct to buy some BHS sites, reports suggest that any buyer would only consider a purchase if it did…
Last week, Detroit, the erstwhile automobile hub of the US, was in the news as it filed for bankruptcy. A tool commonly used in the West to fob off creditors and spurn bad debt, bankruptcy is not a favoured option for most Indians since it is associated with social stigma and embarrassment. However, it may…
A HIGH-FLYING accountants firm has collapsed leaving behind debts to the taxman. Blin Holdings are going through liquidation after Her Majestys Revenue and Customs (HMRC) moved to have the business wound up in February. The company was led by Raymond Blin, one of Scotlands top insolvency experts. He left last year and claims two creditors…
While Japan was making headlines for negative interest rates, regulators may have quietly handed yields on a plate to bond investors. Mitsubishi UFJ Financial Group issued $2 billion of notes in a three-part sale Wednesday at a yield premium some 25 basis points higher than what similar notes from its operational unit, Bank of Tokyo Mitsubishi, were offering in the…