Its highly unlikely that, in the two weeks before Christmas, the executive team at Toys R Us can do much to goose the bankrupt companys sales. The merchandise has been bought, the advertising circulars have been printed, the commercials filmed. The hard work of selling is now up to the front-line employees who, according to…
This content was published on December 11, 2017 5:37 PMDec 11, 2017 – 17:37 Monetas CEO Johann Gevers, left, with finance minister Ueli Maurer, earlier this year. (Keystone) The Swiss-based digital payment start-up Monetas has been declared bankrupt on Monday by a court in Zug. Its the latest blow for boss Johann Gevers, also under…
WILLEMSTAD – Another one bites the dust. This time its the operator of the former Howard Johnson Hotel in downtown Otrabanda, EMC City Hotel. It has been declared bankrupt. The bankruptcy has been requested by the owner of the building where the hotel and a casino are located, namely Emmazicht nv. The casino has been…
OrotonGroup feared it was in danger of collapse five months before falling into voluntary administration owing $40 million, raising questions about the company’s disclosure to shareholders. According to documents filed by Deloitte, which was appointed administrator on November 30, OrotonGroup engaged the accounting firm on June 29 to assess the company’s financial position, with a…
LAST year, there were 19,588 personal insolvency cases. Simply put, 0.06% of Malaysias population of 32 million were bankrupt. That, Malaysia Department of Insolvency (MdI) director-general Datuk Abdul Rahman Putra Taha says, is not an alarming figure, although any number of bankruptcy cases is undesirable for any country. The fact is that as the population…
Bankers are looking to speed up the resolution of 28 accounts including Videocon Industries, Jaiprakash Associates and Uttam Galva Steel as a December 13 deadline looms. These companies are part of the Reserve Bank of India’s second list of defaulters to be referred to bankruptcy proceedings for recovery of more than Rs 2 lakh crore.…
Image copyright PA Image caption Max Clifford had been serving an eight-year jail sentence for sex offences Disgraced celebrity publicist Max Clifford has died in hospital, aged 74, after collapsing in prison. Clifford collapsed in his cell at Littlehey Prison in Cambridgeshire on Thursday and again on Friday, his daughter said. He was taken to…
I’M NOT a commentator but… The Federal Government has had a rough ride of it almost since Malcolm Turnbull replaced the Member for Warringah. Granted, much of it was self-inflicted, either because some of the Conservatives were too blinkered to see the bigger picture, or Mr Turnbull hasn’t been as ruthless as perhaps he should…
FRANKFURT, Dec 8 (Reuters) – Phoenix Solar, once one of Germanys largest solar groups during the sectors heyday, on Friday said it would file for insolvency next week after an unnamed U.S. customer demanded payments that exceed the groups funds. Following the drawdown of project-related letters of credit in the amount of approximately $8 million…
AHMEDABAD | MUMBAI: The National Company Law Tribunal’s Ahmedabad chapter has adjourned the bankruptcy petition against Reliance Naval and Engineering filed by financial creditor IFCI. The dedicated bankruptcy court will next hear the case on December 19. The company has pointed out to the court that there is no provision in the Insolvency and Bankruptcy…