TheRoyal Albert Hall will go bust by March next year if it doesnt receive urgent financial support, the iconic venues chief executive has warned. The West London venue, which was the busiest live music venue in the world last year, has lost 12m after closing its doors for more than 100 days due to coronavirus.…
Decades before Rick Blangiardi began his run for Honolulu mayor, he took part in financial schemes in Hawaii and Kansas that led him to file for bankruptcy and landed the scams ringleaders behind bars. The former television executives involvement got the attention of the Federal Deposit Insurance Corp., or FDIC, which sued him and others…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 30 bankruptcies in week 26. This is 43 down on the previous week. In addition, 1 sole proprietorship was declared…
The Corporate Insolvency and Governance Act (the Act) received Royal Assent on 25 June 2020 and is now in force. As anticipated in our client alert of 26 May 2020, the Act represents the most extensive changes in the insolvency landscape since the Enterprise Act came into force in 2003. The provisions of the Act…
The world has been experiencing a massive downturn over the recent months because of the COVID-19 pandemi… The world has been experiencing a massive downturn over the recent months because of the COVID-19 pandemic. Locally, the Philippine government has reactively imposed community quarantine measures of varying degrees. The actions taken have resulted in disruptions in…
MEXICO CITY (Reuters) – Mexican airline Aeromexico will offer fewer flights and have fewer planes in the short term as it begins a Chapter 11 restructuring process, Chief Executive Andres Conesa said on Wednesday, after shares plummeted to record lows. Passengers, wearing protective masks following an outbreak of the coronavirus disease (COVID-19), wait for flights…
By: Express Web Desk | New Delhi | Published: June 30, 2020 2:57:37 pm Pramod Mittal and his two colleagues were arrested and released in Bosnia after paying a hefty 12.5 million in July last year, Reuters had reported. (Reuters/File) Pramod Mittal, brother of UK-based steel magnate Lakshmi Mittal, has reportedly been declared bankrupt by…
On 26 June, the long-awaited Corporate Insolvency and Governance Act 2020 became law providing the UK and Northern Ireland with temporary and permanent changes to insolvency law aimed at helping businesses manage the economic implications of COVID-19 including: Permanent measures Company moratorium a breathing space against creditor action, initially for 20 business days but extendable,…
German financial services company Wirecard AG’s share price skyrocketed some 196% within the first 30 minutes of trading on Monday 29 June 2020, giving the stock a much-needed respite after last weeks massive sell-off. The troubled payments solutions provider saw its shares open the session at 1.70 a share nearly 31% higher than last Fridays…
Pramod Mittal, who spent 50 million on his daughters wedding, owes 130 million to UK firm. IN LONDON Pramod Mittal, younger brother of steel magnate Lakshmi Mittal and himself a former steel tycoon, has been declared bankrupt by the Insolvency and Companies Court in London. Pramod Mittal, who spent 50 million on his daughters wedding,…