By BENSON WAMBUGUMore by this Author Paul Ngei: Post-independence Cabinet minister and one of the celebrated Kapenguria Six was the first Kenyan politician to be adjudged bankrupt on June 14, 1990. Numerous business ventures failed and trappings of power disappeared and Mr Ngei was forced to resign in 1991. Thereafter, his health began to fail…
By KIPCHUMBA SOMEMore by this Author The Sh500 note was named after him when it was first released in the early 1990s by the Central Bank of Kenya but this week he had run out of money. Mr Cyrus Jirongo, former Lugari MP and a presidential candidate in the August 8 General Election, was declared…
Kenya’s electoral commission has gazetted additional names of candidates for the repeat presidential elections slated for October 26. The Independent Electoral and Boundaries Commission (IEBC) chairman Wafula Chebukati listed Dr Ekuru Aukot, Mr Abduba Dida, Mr Joseph Nyagah, Mr Michael Wainaina and Mr Japheth Kavinga as candidates joining President Uhuru Kenyatta of Jubilee and Nasa’s…
A husband-and-wife financial adviser team have been barred from the profession after blowing millions of pounds on luxuries, including cosmetic dental treatment and flying lessons, despite their firm being declared insolvent after it mis-sold endowment policies. John and Colette Chiesa, founders of Westwood independent financial planners in Lanarkshire, were banned from working in financial services…
Mumbai: LIC Housing Finance (LICHF) has filed an application at the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against DB Realty. The developer, in a notice to the stock exchange, said that the matter is pending in the NCLT and settlement talks are on between LICHF and DB Realty. The application pertains to…
Lufthansa Group has agreed to buy major parts of insolvent Air Berlin, including Austrian subsidiary Niki, regional unit Luftverkehrsgesellschaft Walter (LGW), along with an additional 20 aircraft, Air Berlin announced Thursday. According to Air Berlin, the 210 million purchase guarantees the preservation of all jobs at Niki and LGW and opens the prospect of employment…
The six-time grand slam tennis champion was declared bankrupt in June Boris could be forced to sell his Wimbledon trophies, which are among memorabilia he has been ordered not to remove from his £7million London He is also reportedly weighing up an appearance on British reality show I’m A Celebrity… Get Me Out Of Here!…
Moneycontrol News Providing relief to homebuyers, the Supreme Court today barred promoters of real estate company Amrapali Group from leaving the country without its permission and appointed an amicus curiae to oversee buyers interests. The bench headed by chief justice Dipak Misra issued notices to the company and sought its response within a fortnight on…
Image caption Carly Mackie had ignored hundreds of private parking notices A Dundee woman ordered to pay a private parking company £24,500 in unpaid charges has been declared bankrupt. Carly Mackie had ignored hundreds of parking tickets for leaving her car at Dundee’s Waterfront without a permit. Ms Mackie, 29, who now lives in Paisley,…
The Insolvency and Bankruptcy Board of India (IBBI) has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with the interests of all stakeholders. Insolvency experts have said that in case of real estate disputes, this will protect the rights of homebuyers who have invested…