©Bloomberg The rate at which UK property companies entered insolvency reached its highest point in six years in 2015 as rising property values prompted lenders to put zombie companies out of their misery and reclaim their assets. Some 346 property companies went out of business in the second quarter of 2015, the most recent period…
YOURSAY | Part of our prized assets is sold to China, wouldn’t your pride be dented? Najib: As promised, 1MDB’s winter is over Saya Pun Nak Cari Makan: On the contrary, PM Najib Abdul Razak. Your nightmare has just begun. In the first place, where has the billions in cold cash disappear to? Selling an…
The Alberta Securities Commission. Grant Black / Calgary Herald Share Adjust Comment Print An Edmonton-area man who raised $10.8 million from about 125 investors with a promise of 18 per cent annual returns has been fined $1 million and permanently banned from trading securities or acting as an officer of an issuing company. Wade Robert…
Dutch V&D department store business goes bust 31 December 2015 From the section Business Image copyright AFP Vroom & Dreesman, the largest Dutch department store chain, has declared itself insolvent. The company employs about 10,000 staff at 67 stores and hopes to remain open after a reorganisation of the business. “Together with the curators and…
Department store group V&D was declared bankrupt Thursday afternoon although the stores and La Place restaurants will remain open pending a potential relaunch. The bankruptcy was granted to make it easier to sell off or relaunch parts of the company, a spokesman for the receivers said. A number of potential buyers have come forward and…
Dec 31 Vroom & Dreesman, the largest Dutch department store chain, has been declared bankrupt, it said in a statement published on its website on Thursday. V&D, with 10,000 workers at 67 stores, has suffered in recent years as the Dutch economy stagnated and on-line stores won away customers. After weak sales in the Dutch…
Victims of poor financial advice like Naomi Halpern have concerns about bankruptcy reforms. Wayne Taylor Reforms put forward by the Turnbull government to make it easier for people to get out of bankruptcy may not help many people expected to benefit from the scheme, experts say. Yet for some investors caught up in the collapse…
Business Netherlands Major shoe retailer officially declared bankrupt Shoe retailer Macintosh was officially declared bankrupt on Wednesday, after announcing that it filed for bankruptcy earlier in the day, NU reports. The bankruptcy applies only to the parent company. All of the companys shoe stores, including Scapino, Dolcis, Manfield and Pro Sport, will remain open for the…
Victims of poor financial advice like Naomi Halpern have concerns about bankruptcy reforms. Photo: Wayne Taylor/Fairfax Media Reforms put forward by the Turnbull government to make it easier for people to get out of bankruptcy may not help many people expected to benefit from the scheme, experts say. Yet for some investors caught up in…
TALLINN, Estonia (AP) An Estonian court has formally declared the Baltic nation’s state-owned airline bankrupt after it ceased operations last month following a European Union order to repay millions in state aid. The Harju County Court said Tuesday that the bankruptcy proceedings for Estonian Air are to be carried out immediately, with the first meeting…