WILLEMSTAD Recently the court declared former Minister of Economic Development, Nasser el Hakim bankrupt. The former Minister has nearly 4 million guilders in debt. Last week Fridays the court handled the bankruptcy request. The bankruptcy was requested by Giro Bank on November 13 last year, after the former minister stopped paying. The bank demanded about…
A Greater Manchester law firm has been closed by the Solicitors Regulation Authority (SRA) after being declared insolvent. Mendell Solicitors Ltd, based in Didsbury, appointed liquidators from insolvency specialist Leonard Curtis in late January. A statement from the SRA said it was satisfied it needed to intervene to protect former clients’ interests. The regulator’s panel…
It will be on a much-reduced basis over where they were operating when it closed last year, said acting board chairman Peter Hough. This year, were just trying to keep the operation running on a reduced basis but at the same time do some planning to try and look at creating a long-term vision…
A Russian arbitration court in Kurgan in the south Urals has ruled that there are no legal grounds for having Kurganmashzavod, Russia’s sole producer of infantry fighting vehicles, declared bankrupt. Kurganmashzavod is a subsidiary of Russia’s Tractor Plants Group. “The court has taken into account the law on bankruptcy that establishes a special procedure for…
FSA Group is investing heavily in anticipation of growth and the risks are manageable. Want to access this article for free? Sign up for a FREE 15 day trial, no credit card required SIGN UP FOR FREE The problem with FSA Group isnt that net profit fell 17% to $5.8m in the six months to…
The godfather of independent film, and mentor to legions of greats from Francis Ford Coppola to James Cameron, alleges he’s owed $170 million in litigation against a financial planner who claims he’s “not the black [Bernie] Madoff.” This story first appeared in the March 4 issue of The Hollywood Reporter magazine. To receive the magazine,…
The Dick Smith Holdings collapse is about to get ugly with National Australia Bank and HSBC having good reason to explore action against the six former directors of the company and its auditor, Deloitte. Receiver, James Stewart from Ferrier Hodgson, says there will be a “significant” shortfall on the $140 million secured debt owed to…
The court held that if the applicant company did not manage to satisfy the requisites which it itself quoted as being Article 214(2)(a)(ii) it could not turn to another ground for liquidation I… Read the full article at: http://www.maltatoday.com.mt/business/law_report/62477/court_must_limit_itself_to_the_ground_for_liquidation_proposed_by_the_plaintiff
Miners in Western Romania fear they will lose their jobs | Photo: GlasulHd.ro Around 50 coal miners on Wednesday, for the third consecutive day, continued their underground protest against government plans to restructure the state-owned energy company, Complexul Energetic Hunedoara, CEH, which was declared insolvent in January. Hundreds of coal miners at the Vulcan…
A farmer channels water to irrigate his wheat field on the outskirts of Ahmedabad, India, December 15, 2015. Reuters/Amit Dave/Files MUMBAI (Thomson Reuters Foundation) – Indian government action to increase spending on irrigation and crop insurance is not enough to end a cycle of indebtedness that has led to thousands of farmer suicides, and a…