In Q4 2016 1,796 PSCs entered CVL following changes to claimable expense rules with a total of 16,502 companies entering insolvency in 2016. The total number of company insolvencies has decreased by 26.1% with 3,967 companies entering insolvency in Q1 2017 compared to 5,564 in Q4 2016. These 3,967 companies were made up of 2,693…
11:48 28/04/2017 MOSCOW, April 28 (RAPSI) The Moscow Commercial Court has granted a claim filed by VTB24 bank seeking bankruptcy of Lazar Markus, the husband of former Vneshprombank president Larisa Markus who stands charged with embezzlement, RAPSI learnt in the court on Friday. Lazar Markus has earlier become a guarantee under a facility agreement between…
Family First’s Lucy Gichuhi has been confirmed by the High Court as the Senate replacement for Bob Day. Bob Day was a former Family First senator. BUSINESSMAN and former Family First Senator Bob Day is officially bankrupt. The former director of failed national building company Home Australia, which collapsed with debts of almost $40 million,…
A year after announcing a massive company restructuring program, Intel CEO Brian Krzanich said the company is “reaching milestones in transforming from a PC company to one that powers the cloud and billions of connected devices.” “We’re off to a good start in executing against our priorities,” said Krzanich during an earnings call Thursday for…
Diploma Groups main construction arm may have been insolvent for at least 11 months before the builder-developers $60 million collapse, according to administrators. Accounting firm Grant Thornton is recommending Diplomas creditors vote to liquidate the group and two subsidiaries instead of backing a rescue plan of controlling shareholders the Di Latte family. Diploma was put…
Former property tycoons Michael and John Taggart’s fight against being declared bankrupt centres on the firm that controls £1bn of Nama loans in Northern Ireland, it has emerged. It was revealed in the High Court that the Co Londonderry brothers are challenging Promontoria Eagle’s standing at a meeting where creditors rejected an alternative proposal. Dublin…
Interest-Rates / UK Debt Apr 27, 2017 – 04:41 AM GMT By: Nicholas_Kitonyi The UK lending market has benefited from the reduced lending rates after the interest rate was reduced to an historical low. The UK base interest rate was cut in half in August last year to 0.25% in a bid to stimulate economic…
Bankrupt former rich-lister “Diamond” Joe Gutnick has faced a court grilling over loans to a New York fraudster and Brooklyn-based community organisation. In a fiery examination at the Federal Court on Thursday, Mr Gutnick was challenged over the validity of two major debts declared in his bankrupt estate, including a $33 million debt to Nochum…
Wednesday, April 26, 2017 08.34PM / Anthony I Idigbe, Punuka Attorneys & Solicitors, November 15 2013 World Bank reports on the observance of standards and codes principles and guidelines for effective insolvency and creditor rights systems, published in October 2007, identified the following weaknesses in Nigerian insolvency law: · a lack of efficient means by…
Unum Group (NYSE: UNM) today reported net income of $229.9 million ($1.00 per diluted common share) for the first quarter of 2017, compared to net income of $210.6 million ($0.88 per diluted common share) for the first quarter of 2016. Net income includes net after-tax realized investment gains and losses on the companys investment portfolio…