Central bank governor Valeria Gontareva said they were confident the decision to transfer PrivatBank to state ownership was “the only possible way to protect deposits placed with this bank and rescue the financial system”. The 20 million Ukrainians who use the bank include 3.2 million pensioners, more than 500,000 students and 1.6 million socially vulnerable…
The High Court in Christchurch has banned property developer David Henderson from running a company for six years on top of his six-year-long bankruptcy, which is set to be lifted next month. Associate Judge Rob Osborne has ordered a number of restrictions on Henderson’s dealings in a 134-page judgment, which will release the developer from…
Image copyright Reuters Ukraine’s biggest commercial bank, PrivatBank, has been nationalised in a move aimed at protecting 20 million customers and “preserving financial stability in the country”. The country’s central bank said the problems faced by PrivatBank were mainly caused by its “imprudent lending policy” which led to capital losses. Ukraine’s president Petro Poroshenko has…
MS Sahoo, Chairman of Insolvency and Bankruptcy Board of India Will also result in lower default and better recovery: Bankruptcy board chief Mumbai, December 19: The Insolvency and Bankruptcy Code enacted by the government recently is likely to improve ease of doing business rankings and provide a safe exit for businesses that have failed. MS…
Mick Wallace has been declared bankrupt in the High Court. The Wexford TD was found to be unable to pay back multi-million euro loans following an application by the US fund Cerberus. Todays decision comes on the back of an application by Promontoria Limited, a subsidiary of US fund Cerberus, in relation to a 2m…
Ukraine has declared PrivatBank insolvent and said bringing it under state ownership was the only way to protect money of 20M clients and stave off threats to the financial system. The country will support its biggest lender with liquidity if needed, adding that it did not see the nationalization process as significantly impacting the currency…
A partnership between Canadore College and Swiss Space Systems (S3) appears to be dead on the launch pad as reports out of Europe say S3 is bankrupt. Two years ago, then MP Jay Aspin announced funding for a partnership between Canadore Aviation and Swiss Space Systems (S3) as part of a $10-million project that would…
INDEPENDENT TD Mick Wallace was today declared bankrupt by the High Court. Ms Justice Caroline Costello granted a bankruptcy petition from Promontoria (Aran) Ltd fund arising from a 2million judgment obtained after the fund took over the TDs debt to Ulster Bank. Mick Wallace appeared in the High Court this morning The Wexford politicians total…
Deputy Mick Wallace. TD Mick Wallace has said his bankruptcy, forced by a petition from vulture fund Cerberus, will not stop him speaking out about its controversial purchase of a major Nama portfolio. Mr Wallace was adjudicated bankrupt in the High Court this morning with debts of over 30m following an application from Cerberus subsidiary…