Auditor General Edward Ouko has said the East Africa Portland Cement Company (EAPCC) cannot pay its debts. The companys books have deteriorated rapidly over the past one year, pushing it Sh2 billion further into insolvency. ALSO READ: Billions gobbled up by Nairobi County, audit reveals The groups current liabilities exceeded its current assets by Sh6…
“PECO has remained untouchable.” Rich families have always lorded over the countrys regional economy, as those with vast landholdings and businesses in the provinces dominate the local economy, usually with their huge agri-industrial businesses migrating to public services. Such is the case for the Cacho family of Iloilo, the majority owner of the controversial…
CORPORATE RECOVERY (INSOLVENCY) LAWYERS NQ+ LEEDS CITY CENTRE Competitive Salary Package HJ303 One of the Norths top Corporate Recovery teams is looking to expand. Working with a range of sectors including sport, retail and professional services this team advises on both contentious and non-contentious personal and corporate insolvency matters. There is plenty of variety: from…
Wan Azizah holds up the Financial Behaviour for Quality Lifetime book after launching AKPKs inaugural Financial Literacy Symposium 2018 while AKPKs chairman Anuar Mohd Hassan (left) and chief executive officer Azaddin Ngah Tasir (right) look on. Bernama photo KUALA LUMPUR: The Malaysia Department of Insolvency says 64,632 Malaysians aged between 18 and 44 have been…
Personal injury claims boss jailed for 21 months after fraudulently removing company funds in the months before the courts would make a winding-up order resulting in the closure of the business. Bury-based Darren Christopher Bullough appeared at Bolton Crown Court on Wednesday 14 November after he pleaded guilty to one count of fraudulently removing funds…
Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail speaks at the Financial Literacy Symposium in Petaling Jaya November 15, 2018. Picture by Miera Zulyana KUALA LUMPUR, Nov 15 The Malaysia Department of Insolvency says64,632 Malaysians aged between 18 and 44have been declared bankrupt over the last five years. Additionally, 13,338 have also beendeclared…
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…