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 The foundations managing director, Kevin Chaplin, has confirmed that 13 funders have already withdrawn.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…
Piaggio Aerospace, the traditional Italian aircraft manufacturer, has filed for insolvency. The company, which was controlled by Abu Dhabi-based investment association Mubadala, declared bankruptcy on 22 November. According to Italian media, the decision wasnt made easy but was necessary for a complete restart. PiaggioAerospace needs to escape ongoing uncertainties stemming from its current financial situation.…
Almost 60,000 people in financial difficulty have deferred property tax payments worth more than 7 million, according to the latest figures. Householders have delayed payment for numerous reasons including low income levels, current financial hardship, personal insolvency or as the personal representative of a deceased person. Social Democrats TD Catherine Murphy called on Minister for…
Businesses are sidestepping tax bills amounting to tens of millions of pounds using an insolvency procedure that the government is considering banning. That is the conclusion of an independent panel set up by the government to monitor the use of insolvency arrangements known as pre-packs. The Pre Pack Pool says some businesses have used the…
Waagner-Biros perforated dome is the size of five football fields and can create the effect of a starry sky Philip Lange/Shutterstock Waagner-Biro, the Austrian steel engineering company that built the dome of the Louvre museum in Abu Dhabi, has announced its insolvency and is fighting to save parts of its business by selling off subsidiaries.…
Waagner-Biros perforated dome is the size of five football fields and can create the effect of a starry sky Philip Lange/Shutterstock Waagner-Biro, the Austrian steel engineering company that built the dome of the Louvre museum in Abu Dhabi, has announced its insolvency and is fighting to save parts of its business by selling off subsidiaries.…
Despite the trauma and job losses caused by the failure of several small Ghanaian banks, the sector now looks stronger with credit growth likely to accelerate Ghana is slowly emerging from its worst banking crisis ever. Several times this year depositors massed in the branches of insolvent banks wanting to take their cash, despite assurances…
Open source A few weeks ago, the investigation officially filed charges against Oleksiy Kargapolov, former deputy chairman of the board of the Ukrainian Professional Bank (UPB), who was heading it at the time of the introduction of the provisional administration in May 2015. The banker is accused of more than 220 million USD fraud. Thus,…