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The union representing Laurentian University faculty is going after insurance money held by the insolvent university, saying the universitys leadership
The union representing Laurentian University faculty is going after insurance money held by the insolvent university, saying the universitys leadership
The union representing Laurentian University faculty is going after insurance money held by the insolvent university, saying the universitys leadership mismanaged its finances.
Laurentian University Faculty Association (LUFA) president Fabrice Colin explained that lawsuits cannot be filed against Laurentian at this time, as the university is still under court protection through the Companies Creditors Arrangement Act (CCAA).
However, under the auspices of the CCAA, LUFA was able to file something called a D&O (directors and officers) claim against Laurentian on behalf of its members.
The union did just that at the end of July, filing a D&O claim against past and present directors and officers of the university, including the board of go…
Local residents have urged Wicklow County Council to refuse planning permission to plans by former Anglo Irish Bank chairman, Sean Fitzpatrick to build a new house near Greystones.
This follows the Burnaby Residents Association lodging an objection against the plan by Mr Fitzpatrick and his wife, Caitriona for a two-storey four-bedroomed home at Meadow Garden, Farm Lane in the Old Burnaby area of Greystones.
At ground level, each of the four bedrooms is to have access to a veranda off the main garden while at first floor level, a family room, a living room and kitchen/dining room will all have direct access to an external terrace.
The proposed home is next door to a site where the Fitzpatricks secured planning permission…
There are many people interested in former transportation companies, whether they were trucking companies, railroads, airlines or ocean lines. They are called fallen flags, and the term describes those companies whose corporate names have been dissolved through merger, bankruptcy or liquidation.
Chessie System/Baltimore & Ohio awaits departure from the terminal at Lima, Ohio with a southbound general merchandise train on August 13, 1978. The facility has long since been abandoned but the main line remains in service. (Photo: Arnold Morscher/American-Rails.com)
As an independent corporation, the Chessie System, Inc. only lasted eight years. But its legacy lives on for those interested in fallen flags because several of its subsid…
WHILE it may seem like a lucrative job to star on the sets of EastEnders, Coronation Street and Emmerdale, some actors still come upon hard times.
Heres the lowdown on the soap stars who went bankrupt after rising to fame
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Former Corrie actor Eva Pope was declared bankrupt in 2007Credit: Shed Productions
Eva Pope
Actress Eva Pope, who rose to fame in Coronation Street, was declared bankrupt in September 2007 after a65,000 tax bill and 25,000 credit card debts despite acting roles.
The actress later bagged a role in Waterloo Road the same year.
Eva took on the role of barmaid Tanya Pooley in Coronation Street between 1993 and 1994.
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Former Corrie star Ryan Thomas filed for bankruptcy in 2013Credit: Splash News
The union representing Laurentian University faculty is going after insurance money held by the insolvent university, saying the universitys leadership mismanaged its finances.
Laurentian University Faculty Association (LUFA) president Fabrice Colin explained that lawsuits cannot be filed against Laurentian at this time, as the university is still under court protection through the Companies Creditors Arrangement Act (CCAA).
However, under the auspices of the CCAA, LUFA was able to file something called a D&O (directors and officers) claim against Laurentian on behalf of its members.
The union did just that at the end of July, filing a D&O claim against past and present directors and officers of the university, including the board of go…
Australian senators have heard impassioned pleas by financial counsellors and gambling reform groups to ban the use of credit cards for online betting.
The use of credit cards for online wagering platforms like Sportsbet could be banned if the proposed Interactive Gambling Amendment (Prohibition on Credit Car Use) Bill 2020 passes.
A Senate committee heard submissions on Friday as it prepare to hand down its recommendations.
Under the Bill, its suggested Australia follow the United Kingdom, which banned credit cards for all forms of remote wagering last year.
Proponents of the Bill say the ban would ensure problem gamblers didnt use money they didnt have and push themselves into debt.
Overwhelmingly, stakeholders who fronted the commit…
CWT, a company that arranges business travel and meetings that was hit hard by the pandemic, reached a restructuring agreement with creditors that would allow it to shed around $900 million of debt and receive an equity infusion from existing investors.
The plan, which is being supported by holders of 90% of the companys debt, would replace $1.5 billion of CWTs existing obligations with $625 million of new first-lien securities and an undrawn credit line, according to a statement.
Existing investors including Barings LLC will also add $350 million of new equity to the business in return for a majority …
Telstra took the opportunity on Thursday to lay out its T25 future strategy as its approaches the end of its T22 strategy, which kicked off in 2018.
“If T22 was a strategy of necessity, T25 is a strategy for growth,” Telstra CEO Andy Penn said.
But one of the most significant changes to the company has continued to be pushed back — the restructuring of Telstra that was first announced last year.
Under the plan, Telstra would break itself into fixed, tower, international, and service entities that sit under a holding company. The service entity would gain the bulk of Telstra, owning its retail business, active electronics and radio access network, spectrum, as well as offering services and products to customers. However, the existing T…
The Supreme Court on Wednesday said that principal object of the Insolvency and Bankruptcy Code (IBC) is revival of corporate debtor and to make it a going concern and every attempt should be made to revive it with liquidation being the last resort.
The top court dismissed an appeal filed by an ex-employee of a hotel in Chennai who was aggrieved by the resolution passed by the Committee of Creditors (CoC) for withdrawal of corporate insolvency resolution proceedings (CIRP) and challenged the order of NCLT permitting withdrawal of such CIRP in respect of the corporate debtor (hotel).
On September 13, a two-judge bench of the top court had held that the CoC approved resolution plan submitted to the National Company Law Tribunal (NCLT) can…
A FEDERAL JUDGE sentenced former Rep. David Nangle to 15 months in prison on Wednesday after the Lowell Democrat pleaded guilty earlier this year to illegally using campaign funds to fund a lifestyle that included golf club memberships and casino trips to Connecticut, and lying to banks about his debt to obtain mortgages and other loans.
Nangle, who spent 22 years in the Legislature, once enjoyed a prominent position in House leadership under former Speaker Robert DeLeo, but he saw it all come crashing down after he was arrested in early 2020 and charged with a raft of crimes, many of which stemmed from his gambling debts.
Prosecutors said that during the period covered by their investigation Nangle was heavily…
Former Top Dem in Mass. House Sentenced to 15 Months in Prison
Prosecutors said that, during the period covered by their investigation, Nangle was heavily in debt and gambling at various New England casinos
By Matt Murphy
NBCUniversal, Inc.
A federal judge sentenced former Massachusetts state Rep. David Nangle to 15 months in prison on Wednesday after th Lowell Democrat pleaded guilty earlier this year to illegally using campaign funds.
He used the money to fund a lifestyle that included golf club memberships and casino trips to Connecticut and lying to banks about his debt to obtain mortgages and other loans.
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