A court has declared former presidential contender Cyrus Jirongo bankrupt after finding him unable to pay debts amounting to Sh700 million. Justice Olga Sewe of the commercial division said on Monday that Jirongo’s inability to repay was demonstrated. The money is to be repaid to businessman Sammy Kogo. The judge ordered an official receiver be…
Stephen Dank has been declared bankrupt, according to a report in The Australian. The sports scientist at the centre of the Essendon and Cronulla doping sagas was today reportedly issued a bankruptcy order by the Federal Court after failing to turn up to a hearing. The report says the bankruptcy proceedings were started earlier this year…
Former Lugari MP Cyrus Jirongo has been declared bankrupt by a Kenyan court after he has been unable to pay hundred of millions shillings in debt. Commercial Court judge Olga Sewe on Monday made the ruling, following a case in which businessman Sammy Kogo had sued to have Jirongos estate put under receivership after the…
If you have a ticket to fly to Germany on Air Berlin, you may want to call your travel agent before you pack your lederhosen. The budget airline is ceasing operations by the end of the month, according to Reuters. The move is not exactly a surprise, as the company declared insolvency back in August…
Cyrus Jirongo (Photo: Courtesy) SUMMARY Businessman sues former presidential candidate for breaking promise Judge makes the decision after finding that the politician was unable to pay a Sh700 million debt Former Lugari MP Cyrus Jirongo was has been declared bankrupt after a judge found he was unable to pay a debt running into hundreds of…
NEW DELHI: The Insolvency & Bankruptcy Board of India has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with the interest of all stakeholders. This move is aimed at protecting the interests of home buyers of real estate players such as Jaypee Infratech and…
BERLIN (AP) Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible…
Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible after October…
Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible after October…
The National Company Law Tribunal (NCLT) will consider admitting an insolvency case against Reliance Communications (Rcom) filed by Tech Mahindra on 2nd of November. The IT company had filed an insolvency petition for a recovery of Rs 8.2 crore from the Anil Ambani owned telco and its two units, few days after Rcoms deal with…