Inadequate cash flow and poor strategic management of business were the biggest causes of failed businesses in the last financial year, with over 5,000 reports alleging insolvent trading. Small to medium-sized corporate insolvencies dominate external administrators reports, with 84 per cent of failed companies having estimated assets of $100,000 or less, according to ASICs report…
Angela Gonzalez-Rodriguez | Wednesday, 14 November 2018 German online fashion and lifestyle products startup Lesara has filed for insolvency at its headquarters in Berlin. The companys co-founder for insolvency proceedings in self-administration for Lesara AG and logistics subsidiary Lesara Logistics at the district court of Berlin-Charlottenburg. All major expenditures and decisions must now be approved…
Stock image Vulture funds are engaging with borrowers in arrears, Government report finds Independent.ie A report for the Government has found that vulture funds are engaging with borrowers in arrears. https://www.independent.ie/business/personal-finance/property-mortgages/vulture-funds-are-engaging-with-borrowers-in-arrears-government-report-finds-37524790.html https://www.independent.ie/breaking-news/irish-news/article35550895.ece/30632/AUTOCROP/h342/PANews_P-1001d3de-e6d9-4213-96c9-67a76f4bbc62_I1.jpg Email A report for the Government has found that vulture funds are engaging with borrowers in arrears. Its publication prompted Finance Minister Paschal…
By Tendai Kamhungira State-owned enterprises and parastatals continue to incur shocking financial losses, with high chances of ceasing operations, Auditor-General Mildred Chiri has warned. ZESA Megawatt HQ in Harare State-owned enterprises and parastatals are losing millions of dollars, according to Chiris latest 2017 report, with fears that some might be declared insolvent due to the…
Romanian state-own fertilizers producer Oltchim posted a net profit of RON 84 million (EUR 18 million) for the first nine months of this year, a record level since the opening of insolvency procedure, on higher turnover, according to financial data released on Tuesday. In January-September 2017, the company registered a net profit of RON 39.9…
With real threats of such enterprises going under, there is renewed desire that they be shielded against possible liquidation or being declared insolvent. Gideon Badagawa, the Executive Director at the Private Sector Foundation maintains that economic recovery remains hinged on job security and market access. Read the full article at: http://www.ntv.co.ug/news/national/Low-demand–high-cost-of-production-blamed-for-insolvency/4522324-4849690-lblaqo/index.html
today 15:00 CBS / Nikki van Toorn The number of corporate bankruptcies has increased, according to Statistics Netherlands (CBS). There were 40 more bankruptcies in October 2018 than in the previous month. In September, the number of bankruptcies reached the lowest level since 2001. However, the trend has been fairly flat for…
PUBLISHED: 09:30 12 November 2018 | UPDATED: 12:54 12 November 2018 Jessica Hill Sam Shutlar (Samuel David Construction) Archant Samuel Shutlar, the director of the building firm Samuel David Construction, which went under … Read the full article at: https://www.ipswichstar.co.uk/news/business/sam-shutlar-director-of-sdc-in-suffolk-is-bankrupt-1-5774741
Bankrupt father of three who ran brothel in city avoids prison term BelfastTelegraph.co.uk A brothel keeper who housed prostitutes from eastern Europe has been ordered to carry out 60 hours of community service. https://www.belfasttelegraph.co.uk/news/northern-ireland/bankrupt-father-of-three-who-ran-brothel-in-city-avoids-prison-term-37512116.html https://www.belfasttelegraph.co.uk/incoming/article37513100.ece/0a6a6/AUTOCROP/h342/erryMcBride12.jpg Email A brothel keeper who housed prostitutes from eastern Europe has been ordered to carry out 60 hours of community…
LONDON: The UK subsidiary of Punjab National Bank (PNB) is suing five Indians, one American and three companies in the UK high court claiming they fraudulently misled the bank to lend them tens of millions of dollars and now owe the bank approximately $37 million (Rs 271 crore) in unpaid loans. PNB (International) Ltd, which…