Over the past two years, shares in Ferrexpo (LSE: FXPO) have been on a wild ride. After peaking at a high of just under 500p during 2011, shares in the Ukrainian iron ore miner collapsed to a low of 16p at the end of 2015. But then, in what has to be one of the…
Corporate law firm Shulmans is strengthening its business recovery and insolvency team with an appointment and internal promotion. Lucy Clark, who joined the firm in 2013, has been promoted to associate. Clark has specific expertise in investigatory work and asset realisation in complex bankruptcies, in addition to extensive knowledge of all matters relating to administrations,…
An ABC investigation into the activities of a number of business advisers, who help companies avoid paying millions of dollars in tax and money owed to small mum-and-dad businesses has uncovered a raft of potentially illegal transactions that are now the subject of investigation by ASIC and the Australian Tax Office (ATO). Key points:…
2017-04-12T09:55+02:00 09:55 12.04.2017 The Individuals Deposit Guarantee Fund has started searching for authorized persons interested in participating in the removal of insolvent Finbank (Odesa) from the market, the fund has reported on its website. Preliminarily the authorized persons would have the following ways to remove the bank from the market: liquidation of the bank, selling…
A global firm has voiced its support for the federal governments proposed changes to Australias insolvency laws, which will have a significant impact on businesses and their legal advisers if passed. Two insolvency experts from King & Wood Mallesons told Lawyers Weekly that they welcomed the reforms proposed…
The Bank of Canada (BoC) will tell us tomorrow whether it will raise or lower interest rates or leave them untouched. And while the overwhelming expectation among economists is that things will stay as they are, a growing number think that BoC governor Stephen Poloz may signal that the bank is contemplating a future rate hike. Many…
LONDON A Financial Times investigation has found that several UK companies have used a controversial insolvency procedure to offload up to £3.8 billion of pension liabilities. The investigation found that 17% of the 868 schemes managed by the Pension Protection Fund (PPF) a fund which picks up pension liabilities from failing companies had entered the…
Bosses have come up with a new scam to avoid paying pensions. Pre-pack administrations are a way of selling off company assets before going bankrupt. Companies have used the schemes controversial insolvency procedure to offload £3.8 billion of pension liabilities. The Pension Protection Fund (PPF) is a lifeboat of last resort for the pension plans…
Looking ahead to BOC interest rate announcement: – Thirty-one per cent say they will be comfortable taking on more debt if rates decrease – Half say they will be more concerned about their ability to pay their debts if rates increase CALGARY, ALBERTA–(Marketwired – April 11, 2017) – As the nation awaits the Bank of…
CALGARY, ALBERTA–(Marketwired – Apr 11, 2017) – As the nation awaits the Bank of Canada’s next announcement on interest rates, Canadians’ appetite for cheap credit is being highlighted by a new Ipsos survey conducted on behalf of MNP Debt. Nearly thirty per cent of Canadians say that the current low interest-rate environment has caused them…