BUCHAREST, Romania (AP) – Three-time Romanian champion Rapid Bucharest has been declared bankrupt by a Romanian court. The club, which has debts of 4 million euros ($4.48 million), filed for insolvency in 2012. Half of the debts are unpaid taxes. Rapid won three league titles, and 13 Romanian Cups, the last one in 2007. It…
BHS has just 10 more days to secure a white knight that could save the chain from disappearing from the high street, a restructuring expert has warned. Opus Business Services Groups Nick Hood, who worked as an administrator for 23 years advising retailers, made the claim in the same week that BHS administrator Duff &…
Nick Rowles-Davies of litigation funder Burford considers the new financing options being explored in insolvency litigation. The UK insolvency space is changing, due to both market and legislative changes. To manage costs more effectively and still fulfill their duties to estate beneficiaries, office holders are increasingly exploring new financing optionsincluding innovative financing structures that…
Three-time Romanian champion Rapid Bucharest has been declared bankrupt by a Romanian court. The club, which has debts of 4 million euros ($4.48 million), filed for insolvency in 2012. Half of the debts are unpaid taxes. Rapid won three league titles, and 13 Romanian Cups, the last one in 2007. It reached the UEFA Cup…
Some 60,000 people are expected to declare their personal insolvency in Bucharest alone each year, according to estimates by the Bucharest Court, cited by local Profit.ro. The court has asked for more employees arguing that the judges will have to solve some 1.8 million cases of personal insolvency, representing appeals and other procedures related to…
With Opa-lockas finances nearly drained and its government facing a state takeover, local officials acted swiftly to hire the man they said could help the city survive: former finance chief Ezekial Orji. They gave him an office at City Hall, a computer and a cadre of workers to help root out serious breakdowns in the…
2016-06-14T11:48+02:00 11:48 14.06.2016 KYIV. June 14 (Interfax-Ukraine) Representatives of some nongovernmental organizations in the healthcare sphere have said that consequent and systemic steps in reforming the healthcare system are required. “A single healthcare concept has not been drawn up in the past year. All proposed reforms do not meet the articles of the Constitution and…
15:35 03/06/2016 MOSCOW, June 3 (RAPSI) The Moscow Commercial Court has declared Yaposhka City company, the operator of Yaposha restaurants, bankrupt, RAPSI reported from the courtroom on Friday. On January 29, the court introduced a monitoring procedure at the company upon the request of Trust Bank. Yaposhka City owes over 1.6 billion rubles ($24 million)…
The company wouldve been forced to turn over its assets to the wrestler to stay his $140 million judgment, so it petitioned the courts for emergency protection. In what is either an interim victory for Gawker hater and Silicon Valley billionaire Peter Thiel or a prudent maneuver by Gawker Media founder Nick Denton, the online…
The Latvian state-owned power utility Latvenergo is not going to file for insolvency of financially troubled KVV Liepajas Metalurgs steel maker, Latvian Economics Minister Arvils Aseradens said, answering questions from lawmakers about the situation with KVV Liepajas Metalurgs. Although the government representatives said earlier that they hoped one of the unsecured creditors would file an insolvency claim…