A top unsecured creditor of bankrupt Dynamic International Airways LLC is attempting to force the High Point charter airline into liquidating its assets. The bare-bones filing in U.S. Bankruptcy Court for the Middle District of N.C. came about seven weeks after Dynamic lost a legal fight in U.S. District Court for the Middle District. Since…
The National Company Law Tribunal has created history under the new Insolvency and Bankruptcy Code it last week ordered winding up of two companies – VNR Infrastructures and Bhupen Electronic – after the borrowers and lenders failed to come up with a plan to revive operations. These companies, though small, set a precedent that the…
Business insolvency is a very real risk for many small businesses but countless business owners are not spotting warning signs early enough. The reality is that around 60% of businesses dont make it past the first three years, which is why business owners should seek help early on to ensure their financial health. But first,…
Home buyers of Jaypee infratech are facing an unprecedented situation: it is the first housing company that has entered insolvency proceedings. Complications are little when it comes to insolvency of, say, a steel company. But the case of real estate company which is in the middle of constructing homes becomes challenging, especially for buyers. That’s…
A COLLAPSED shared-living community at Mt Burrell serves as a warning to potential investors of alternative housing schemes. With its court-ordered dismantling this week, the Bhula Bhula Intentional Community has left in its wake at least 20 financially ruined investors and a litany of complex legal clashes. The NSW Land and Environmental Court ordered the…
To guide, or not to guide that is the question. One week into the 2017 profit reporting season and this old chestnut about whether companies should provide earnings guidance is, with apologies to William Shakespeare, firmly back on the agenda. Lukewarm guidance issued this week by top performing retailer Nick Scali prompted a near 10…
during Left rule (Eds: Recasting story) Kolkata, Aug 11 The Trinamool Congress-led West Bengal government has sought six months’ time from nine banks to repay the principal amount of a loan taken during the Left front rule over a decade ago for supplying iron ore to a China-based company. “We will only be able to…
News Danny McCance 11 Aug 2017 04:50pm A round-up of this week’s appointments, promotions, board moves and resignations … Read the full article at: http://economia.icaew.com/en/news/august-2017/movers-and-shakers-11-august
Dive Brief: J. C. Penney managed to increase net sales by 1.5%, to $3 billion, in the second quarter compared to the year-ago period, even as a mass of store closures and liquidations weighed on the companys margins, according to a company press release. The sales figure narrowly beat the FactSet consensus of $2.92 billion,…
Closing weak stores doesn’t solve all of a retailer’s problems. J.C. Penney Co. posted a wider quarterly loss, as liquidation sales at stores it closed during the period weighed on the company’s results. Penney shares tumbled more than 15% in Friday morning trading as investors responded to weaker-than-expected profit margins. Penney closed 127 stores in…