Chinese private shipyard Taizhou Kouan Shipbuilding has emerged from bankruptcy after new investors took control of the yard. The yard entered into a court-led restructuring after it was declared bankrupt by a local court in August due to a financial crisis. Two local companies, Taizhou Changqin Ship Engineering and Taizhou Changyue Enterprise Management, have taken…
SPANISH bankruptcy law, in relation to insolvency and elimination of debts, stipulates that there are a number of actions which are unacceptable and which if proven can negate the insolvency process. Guilty Insolvency — Advertisement — If a bankruptcy is declared guilty, it means that it is understood that the bankrupt or insolvent is responsible…
The company expects improvement in the asset portfolio quality as well as cash flow of the company, due to various strategic initiatives including measures for recovery were initiated during FY20 TopicsIFCI|Buzzing stocks|Markets SI Reporter | Mumbai Last Updated at December 10, 2020 15:29 IST Shares of IFCI hit a 52-week high at Rs 10.75 on…
Jacob Klein After many attempts by the company to stave it off, Insight Terminal Solutions (ITS) has been declared bankrupt in a Kentrucky court. ITS had been at the helm of the effort to store and transport coal through the old Oakland Army Base for years now. John Siegel, CEO of the now bankrupt ITS,…
What are the main Jersey insolvency procedures for a Jersey company? What is the effect of commencement of Jersey insolvency procedures? What are the powers of the liquidators or the viscount? What transactions can be set aside? How are assets distributed on a creditors’ winding up or dsastre? Insolvency and Jersey trusts Insolvency and Jersey…
Covid-19 has caused financial injury and distress to many Filipinos. By early 2021, after the grace periods for loans and other forms of financial assistance granted under Bayanihan 2 will have been exhausted, many more Filipinos will experience the stress and burden of their creditors demanding repayment. Unless a Bayanihan 3 or other legislative relief…
BELGRADE (Serbia), December 9(SeeNews) -Serbia’s Bankruptcy Supervision Agencysaid it offering for saleinsolventengineering and construction company Projmetal at an auction on January 20, the agency has said. The startingpricein the auction is set at 411.3 million dinars($4.2 million/3.5 million euro), the Bankruptcy Supervision Agency said in a notice. A deposit of 164.5 million dinarswhich should be…
The DNB headquarters in central Amsterdam Life insurance company Conservatrix has been declared bankrupt at the request of the Dutch central bank. Conservatrix did not have sufficient capital to meet its obligations and its 80,000 policyholders now face a rights downgrade, the Financieele Dagblad said on Wednesday. It is the first time since 1993 that…
Grocon boss Daniel Grollo has apologised to unsecured creditors for the companys deepening financial issues due to its long-standing legal battle involving the NSW government and James Packers Crown Resorts. At first meeting of creditors, the companys backers caught up in its $1 billion collapse heard they will likely get very little back if the…
The partial collapse of one of Australia’s most well-known construction companies has left a vast number of creditors in the dark about where they stand and whether they will retrieve any money owed to them. Key points: Some creditors do not believe anyone will be paid Not all of Grocon is being put into administration…