Net SE, the company behind the photographic brands Meyer Optik Goerlitz, CP Goerz and Oprema Jena, has been declared insolvent and will be wound up. German blog Photoscala reports that insolvency proceedings have started for the assets of Net SE, thus throwing the fate of all of its many crowdfunded lens campaigns into doubt.…
Sears, an anchor of retail life for generations of Americans, filed for bankruptcy on Monday and said it was closing almost 150 stores, the latest marquee victim of the online era. Founded in 1886 as a mail order catalog company, it went on to pioneer the department store industry, selling all things to all people,…
Video PlayerClose BERLIN, Oct. 15 (Xinhua) — Chinese investment, together with a Swiss partner, has helped a 120-year-old insolvent German rail system company back to life, the chief executive officer (CEO) of Molinari Rail Systems GmbH told Xinhua on Monday. “At the end of 2016 before the acquisition, the situation of the railway systems company…
The management of BFL Microfinance Bank has sued the Central Bank of Nigeria (CBN) for illegally revoking its operating licence. The bank, in the originating summons filed at the Federal High Court by its counsel, Velma Solicitors, prayed the court to declare the purported revocation null and void as the bank was not solvent. ADVERTISEMENT…
15 Oct 2018 06:53am IST Insolvency and Bankruptcy Code 2016 (IBC) is one of the much needed biggest economic reforms speedily rolled-out and being implemented in India. This is a one-stop solution which addresses all insolvencies in a time-bound and economically viable manner. This law has significantly helped India in achieving the historic 30-spot…
Brian Carey Among the investors was former Ireland and Munster rugby captain Paul OConnellPIARAS MIDHEACH/SPORTSFILE Limerick property developer and former Ireland rugby team manager Pat Whelan received a 400,000 lump-sum payment from prominent rugby supporter Frank Hogan to help secure his exit from insolvency. Whelan agreed a personal insolvency arrangement (PIA) with his creditors earlier…
Losses due to foreign currency obligations General assembly meeting Remedial measures The Communique on the Procedures and Principles regarding the Application of Article 376 of the Commercial Code (6102) was published in the Official Gazette on 15 September 2018 and entered into force on the same date. It determines the procedures and principles that will…
Press contacts Romain Sadet Press officer +32 2 281 89 14 +32 473 86 54 37 The Council today agreed its position on the business insolvency directive. The directive aims at providing access by viable enterprises in financial difficulties to preventive…
The move follows an investigation by the Insolvency Service. The company operated a website www.bluethornetrading.com. The role of the provisional liquidator is to protect assets in the possession or under the control of the company pending the determination of the petitions. The provisional liquidator also has the power to investigate the affairs of the companies…
During 2014-2016 refinancing policy pursued by the NBU was aimed at maintenance of banking system from financial collapse. Along with the change in environmental conditions shifted the emphasis and priorities in the aims and objectives of monetary policy. Features of the external environment in which the banking system, require from the National Bank of Ukraine…