The collapse of South Korean company Hanjin Shipping has left ships, cargo and crews stranded around the globe. It highlights the complex consequences of a shipping company going bankrupt, with Hanjins creditors and customers waiting to see whether the business can be saved. Hanjin Shipping Co is one of the worlds top ten container carriers,…
The process to go bankrupt is too easy and does not allow for the debtor to explore all their options. As part of my research I interviewed 29 people who had recently declared bankruptcy. We discussed the process. I found that at least half of the people interviewed did not have to go bankrupt. Going…
Malaysia’s transport minister confirmed for the first time that the pilot of missing Malaysia Airlines Flight 370 had simulated a flight over the remote southern Indian Ocean, where the jet is believed to have crashed. Photo: Zaharie Ahmad Shah Brake fail. Malaysia Airlines’ A330 with damaged door after colliding with the aerobridge at Melbourne Airport.…
Short-seller Jim Chanos said an announced $2.6 billion merger with SolarCity Corp. will make Tesla Motors Inc. a “walking insolvency.” The synergies are questionable at best,” Chanos, who founded hedge fund firm Kynikos Associates, said at the CNBC Institutional Investor Delivering Alpha Conference on Tuesday in New York. He estimated that the combined company, which will…
left to right CVR Global managing partner Richard Toone, with Southampton partners Simon Lowes and Matthew Fox INSOLVENCY and restructuring firm, CVR Global, has opened a new office in Southampton with a new senior partner appointment. Matthew Fox, partner at CVR Global, said: Were delighted to have opened the new office and to welcome Simon [Lowes]…
The Australian economy is facing headwinds for the remainder of 2016 and into 2017 following the decline in commodity prices. Local bankruptcies are expected to rise by 8%, according to Atradius forecasting, so it makes good business sense to look for ways to reduce risk exposure to let the company trade confidently. Australian businesses must start…
Luke Palladino, a star chef in and around Atlantic City for almost 15 years, has declared bankruptcy and closed his latest South Jersey restaurant. An answering machine was still working and giving out restaurant details Monday at Luke Palladino Seasonal Italian Restaurant, in Linwoods Central Square shopping center. But the system wasnt taking messages and…
D-Day for firms covered by insolvent Enterprise Insurance 22 August 2016
Creditors who funded the United States shale boom are not in good shape to recover their invested funds, according to Moodys Investors Service. Banks and private lenders have only gotten back $1 of every $5 they invested in companies that declared bankrupt in 2015, the credit rating agency reports, which analyzed 15 bankrupted energy companies…
A British absurdist artist is stuck off the coast of Japan on board a Hanjin Shipping freight ship after the company declared bankruptcy. 25-year-old Rebecca Moss is onboard the vessel as part of the 23 Days at Sea project a residency program organized by a Vancouver art gallery that puts artists on cargo ships sailing from…