THE financial tables have turned in a dramatic way with more people going into insolvency in Noosa than Nambour, latest figures show. The Federal Government’s Australian Financial Security Authority has released the latest regional statistics for personal insolvency for the final months of 2017. Most regions saw a reduction in insolvencies in the December quarter…
Creditors of insolvent German airline Air Berlin are considering whether to sue its major shareholder Etihad for billions of euros in damages, a spokesperson for the airline’s insolvency administrator, Lucas Floether, says. The creditors’ committee is scheduled to meet on Monday to discuss putting the claim forward. German newspaper Sueddeutsche Zeitung reported that Floether expected…
Mris Sprds declined to tell BNS who had posted bail when he was released on Feb. 16. Attorney Jnis Rozenbergs, however, confirmed on Friday that Sprds’ bail was posted by the latter’s brother. According to the database at Firmas.lv, Kristaps Sprds owns, in full or in part, several companies, including the law firm MAX Grup,…
Armands Rasa, the insolvency administrator of Trasta Komercbanka, has been paid 2.9 million for his services, as creditors who have little chance of recovering their assets have voted to pay Rasa 30% of the recovered money, reported LTV’s De Facto March 4. “Please explain to me how you can earn so much money in such little…
Home » News » General » CMB wants P650 million from Bona Life CEO Vaka Publishing Date : 05 March, 2018 Author : UTLWANANG GASENNELWE Gaborone based attorney, Gabriel Kanjabanga of Kanjabanga and Associates, has, when representing Capital Management Africa (Pty) Ltd (CMB) and Rapula Okaile unearthed that the current value of Bona Life is roughly…
10:56 05/03/2018 MOSCOW, March 5 (RAPSI) Yury Burlyak, property manager for the co-owner of Yashma group Igor Mavlyanov, has asked the Voronezh Region Commercial Court to declare the entrepreneur bankrupt, the court documents read. In November 2017, the court granted a motion to initiate the procedure of debt restructuring against Mavlyanov. The applicant in this…
The legal battle that has broken loose in the insolvency resolution process of Bhushan Power & Steel underlines the importance a confidentiality clause in bidding or deals involving mergers and acquisitions. The two bidders, Tata Steel and Liberty House, seem to know each others offer price and have been throwing that as an argument…
ArcelorMittal is spoiling the bidding game of Essar Steel. Despite its lobbying with the Indian government, its illegal bid should not be cleared as it does not meet the eligibility criteria as per the current Insolvency and Bankruptcy Code (IBC), said VTB Capital, one of the two bidders for Essar Steel. ArcelorMittal is the…
Orissa Slurry Pipeline is a 253km pipeline that is responsible for transporting about half the raw materials for Essar Steels plant in Odisha. Mumbai: IDBI Bank Ltd is likely to initiate insolvency proceedings against Orissa Slurry Pipeline Infrastructure Ltd, the company that operates the pipeline supplying raw materials to Essar Steel Ltds Odisha plant, according…
NEW YORK/LONDON (Reuters) – The U.S. Department of Justice on Friday unveiled criminal charges against 10 defendants, including London-based brokerage Beaufort Securities Ltd, over their alleged roles in a more than $50 million stock fraud and a laundering scheme involving a late work by Pablo Picasso. FILE PHOTO: The exterior of the U.S. Department of…