ZURICH (Reuters) – Swiss airline Belair, formerly part of collapsed low-cost carrier Air Berlin (AB1.DE), has been taken over by German investment company SBC. SBC, based in Duesseldorf, said on Monday it wanted flights to resume as soon as possible and former Belair staff would be offered their jobs back after it made a deal…
Recent interest hikes have Albertans increasingly worried they won’t be able to cover their monthly expenses, according to a survey by the national personal insolvency firm MNP Ltd. The consumer debt index conducted by Ipsos for MNP found that 31 per cent of Albertans are unable to afford their monthly bills and debt obligations an…
None 17:26 15.01.2018 The forensic audit of Bank Khreschatyk, which was declared insolvent in April 2016, testifies to the complicity of the bank managers and owners to losses amounting to more than UAH 2.5 billion, according to the Individuals’ Deposit Guarantee Fund’s website. According to the report, the forensic audit of the bank was conducted…
Video PlayerClose RIGA, Jan. 15 (Xinhua) — The Latvian government’s talks with the potential investors of ailing steel firm KVV Liepajas Metalurgs has failed because it has now been decided to split the company’s assets and auction them off. KVV Liepajas Metalurgs is a firm based in the southwestern Latvian port city of Liepaja. Guntars…
One case that Agrokor could be compared to would be the infamous Parmalat case that shook Italy – and the similarities are uncanny. As Poslovni Dnevnik writes on the 15th of January, 2018, unlike what took place in the handling of the infamous Parmalat case, there are no individual restructuring plans for particular companies in…
Bankrupt business tycoon Scot Young, 52, made a phone call to his ex-wife In the call revealed in a BBC Two documentary he offered Michelle Young £30m The couple had been involved in one of the most costly divorces in Britain Mr Young pleaded with her to drop her investigation into his finances – five…
MNP Consumer Debt Index – January 2018 Canadians are increasingly pessimistic about their ability to absorb higher interest rates and cover their monthly bills. MNP LTD One in three Canadians say they are unable to cover their monthly bills, up eight points since September. Half are more concerned about their ability to repay debts, up…
Key questions answered on the liquidation of the construction firm and its implications for staff Carillion employs 43,000 people, including almost 20,000 in the UK. Photograph: Christopher Thomond for the Guardian The construction firm Carillion, which is involved in a host of major government projects including HS2, has gone into compulsory liquidation. What went wrong…
One in three Canadians say they are unable to cover their monthly bills, up eight points since September. Half are more concerned about their ability to repay debts, up three points since September. Average Canadian left with $112 less at the end of the month compared to last quarter. CALGARY, Alberta, Jan. 15, 2018 (GLOBE…
The Insolvency and Bankruptcy Code (Amendment) Act, 2017, is based on an ordinance promulgated by the president on 23 November. It is intended to improve the credibility of the corporate insolvency resolution process (CIRP) and makes some ground-breaking changes with respect to the eligibility of resolution applicants, including promoters and persons connected to them. Amit…