Ukraines central bank declared insolvent Kremlin-run lender VTBs local subsidiary on Tuesday, ending a long-running struggle over the Russian states role in the country after the annexation of Crimea. The National Bank of Ukraine said it would wind down VTB Ukraines operations after its Moscow parent failed to comply with banking law and the [NBUs]…
Piaggio Aerospace recently declared insolvency, asking for extraordinary administration that would facilitate restructuring, the company confirmed. Under extraordinary administration, the Italian government will appoint a commissar who will work to guarantee business continuity, a spokesman said. The move comes a year after the financially troubled Italianmanufacturer outlined a five-year turnaround plan that included a 255…
Tuesday marks the end of an era for World Superbike fans as the Ten Kate Racing organisation has declared itself bankrupt. The future of the Dutch outfit was thrown into disarray when it was announced that Honda Racing Corporation (HRC) would be returning to the championship alongside Moriwaki and Althea Racing as of 2019. The…
THE number of insolvencies during this financial year so far is half that of the last financial year, according to statistics provided by the master of the High Court at the national consultative workshop on the insolvency bill being held at Swakopmund. Last year, 32 insolvencies were registered, which included 12 companies and 15 close…
A Sheffield city centre which closed after being declared insolvent with debts of more than 1 million is set to re-open under new owners. The Sentinel Brewhouse shut its doors with immediate effect back in September after running into financial difficulties. The Sentinel Brewhouse is set to re-open under new owners. But now the…
THE company that runs an awards event promoted as the working womens Oscars is being liquidated with debts of more than 100,000. But the couple who already run the Venus Awards are planning to buy it back out of liquidation and keep going. This years Dorset Venus Awards went ahead at Bournemouths Hilton Hotel on…
THE company that runs an awards event promoted as the working womens Oscars is being liquidated with debts of more than 100,000. But the couple who already run the Venus Awards are planning to buy it back out of liquidation and keep going. This years Dorset Venus Awards went ahead at Bournemouths Hilton Hotel on…
File photo: Ayanda Ndamane/ African News Agency (ANA) Cape Town The Amy Foundation fears that more funders may withdraw their support to the organisation facing a number of challenges, including a strike by employees. The foundations managing director, Kevin Chaplin, has confirmed that 13 funders have already withdrawn. This as its employees vowed to intensify…
Latest News The Australian Subcontractors Association (ASA) has called on the federal government to provide greater protection for subcontractors in the wake ofrecent administration woesof engineering firm RCR Tomlinson. Last week, the storied contractor delivereda surprising news that it was appointing voluntary administrators due to financial troubles. In August, RCR raised $84 million on an…
Piaggio Aerospace declared insolvency late last week, asking for extraordinary administration that would facilitate restructuring, the company confirmed. Under extraordinary administration, the Italian government will appoint a commissar who will work to guarantee business continuity, a spokesman said. The move comes a year after the financially troubled Italianmanufacturer had outlined a five-year turnaround plan that…