AT least six companies from various sectors of the economy applied for either liquidation or judicial management in January this year, businessdigest has learnt. By Kudzai Kuwaza Many companies in Zimbabwe closed shop last year due to harsh economic challenges. According to statistics availed by the Employers Confederation of Zimbabwe(Emcoz), companies from the retail, agriculture…
Home care provider Cleeve Link has gone into liquidation, it has been confirmed. The Cheltenham based company, which provides care services, rapid response, telecare and meals on wheels to people in Gloucestershire, Worcestershire and Oxfordshire, told its staff the news today, one employee has said. Gloucestershire County Council has said it was informed today that…
A judge has ordered the liquidation of Penn Treaty American Corp., the Salisbury Township provider of long-term care policies. The ruling from Commonwealth Court Judge Mary Hannah Leavitt was not unexpected. After nearly a decade of legal wrangling, Penn Treaty and its affiliate American Network Insurance Co. raised the white flag at a November hearing,…
The Commonwealth Court in Pennsylvania has approved petitions to liquidate Penn Treaty Network America Insurance Company and American Network Insurance Company, with policyholder claims set to be paid through the state guaranty association system subject to statutory limits and conditions. After a long and difficult eight-year legal process, the Courts decision to approve the liquidation…
Watersun Homes administrator Mathew Gollant recommended the homebuilder’s clients check if they have a domestic building insurance policy. Picture: DARREN HOWE RELATED: Watersun Homes enters administration Property owners affected by the collapse of Watersun Homes have been advised to check their domestic building insurance policies, as the administrators work to ensure their homes are completed. The Melbourne-based homebuilder…
March 2nd, 2017 Grant Rowles Asia, Europe, Offshore 0 comments Emas Chiyoda Subsea (ECS), which filed for chapter 11 in the US earlier this week, has placed Norwegian subsidiary EMAS-AMC AS under members voluntary liquidation in Norway. The company said that the liquidation was independently decided by the board of directors to be in the…
Property owners across Victoria have been left thousands of dollars short and demanding answers, after building company Watersun Homes was placed into voluntary administration. On Tuesday, insolvency firm Rodgers Reidy was appointed administrator for Watersun Homes, and said the company did not the funds to continue trading. 90 full-time staff have been told their services…
Cam Fortems Special to the Times An apprentice electrician who held up nine banks in three provinces, including in Aldergrove, during a two-month crime spree was sentenced Tuesday to seven years in prison. Shaun Cornish, 29, pleaded guilty to charges stemming from robberies in B.C., Alberta and Saskatchewan in late 2014 and early 2015. Prosecutors…
Commissioner Miller said the two companies have approximately 76,000 policyholders nationwide, with 9,000 residing in Pennsylvania. More than 98 percent of Penn Treaty and American Network’s policies are long term care insurance. Over the past several years, long term care insurance has posed significant challenges to insurers on a national level. The pricing of these…
Mark Bennett, head of agribusiness at ANZ, says the Australian farm debt equation is constantly evolving. AUSTRALIAN family farm debt is skewed heavily towards expanding farm businesses, with the majority of new debt growth going to businesses with loans in excess of $2 million said ANZs manager of agribusiness Mark Bennett. At the other end…