The Sports Direct boss Mike Ashley has threatened legal action to remove Debenhams administrators after his stake in the department store group was wiped out and the company put into the hands of its lenders. Debenhams listed holding company entered pre-pack administration on Tuesday, rendering shareholders investments, including Sports Directs near-30% stake, worthless. The retailers…
Shares in Senvion were in free fall Wednesday after the embattled German wind turbine maker announced it was entering a process called self-administration in a last-ditch turnaround attempt. The Hamburg-based manufacturer said the move was to safeguard an ongoing transformation program after refinancing discussions with lenders have so far not come to a positive conclusion.…
April 9 (Renewables Now) – German wind turbine maker Senvion SA (ETR:SEN) is officially entering preliminary self-administered insolvency proceedings as refinancing talks have so far provenunsuccessful. The company announced on Tuesday that Senvion GmbH has filed for self-administration proceedings to safeguard the transformation programme it launched in January. The proceedings also relate to subsidiary Senvion…
April 9 (Renewables Now) – German wind turbine maker Senvion SA (ETR:SEN) is officially entering preliminary self-administered insolvency proceedings as refinancing talks have so far provenunsuccessful. The company announced on Tuesday that Senvion GmbH has filed for self-administration proceedings to safeguard the transformation programme it launched in January. The proceedings also relate to subsidiary Senvion…
FRANKFURT (Reuters) – A German court on Tuesday approved an application for insolvency from wind turbine manufacturer Senvion, although the company said it was also continuing to look at new funding options and various potential investors had shown interest. The Hamburg-based company, which has more than a billion euros of debt, said it had applied…
(Adds details) FRANKFURT, April 9 (Reuters) – Indebted German wind turbine manufacturer Senvion said on Tuesday it was filing for insolvency but was also continuing to look at new funding options and various potential investors had shown interest. The Hamburg-based company, which has more than a billion euros of debt, said it had applied for…
In a new twist to the Reliance Communication (RCom) bankruptcy case, an appellate tribunal has said if insolvency proceedings are revived against the beleaguered telco firm, then Ericsson will have to pay back a large settlement amount it has received earlier. This observation was made by a two-judge bench, headed by Justice SJ Mukhopadhaya, of…
In a press briefing on Tuesday, the Independent Electoral Commission of SA (IEC) announced they had dismissed nearly all the objections they had received against the candidates nominated by political parties contesting this years elections. Only one objection was upheld, which came from the PAC against its own candidate,Alton Mphethi, due to a criminal conviction,…
Im an American college student in my twenties, which means three things for certain. One: I am helplessly addicted to my phone. Two: I am embarrassingly bad at writing in cursive. Three: I have watched entirely too much of The Office. The Office is a great show, and like many other sitcoms, it has a…
In a notice released late on Monday, the Independent Electoral Commission of SA (IEC) announced its decision to dismiss all objections raised against the right of Black First Land First leader Andile Mngxitama and party spokesperson Lindsay Maasdorp to become MPs. Both have courted controversy on numerous occasions for racially divisive rhetoric in service of…