Insolvency Guardian Media Centre
Mars One Ventures the company that claimed it was going to send hundreds of people to live (and ultimately die) on the Red Planet is now bankrupt, according to Swiss financial notices. Its an unsurprising development, as many experts suspected that Mars One has been a scam for years, preying on peoples desires to travel to space without having a real plan to get them there.
News of the liquidation first came to light over the weekend, thanks to a Redditor who spotted a notice for the companys bankruptcy on a website for the city of Basel, Switzerland where Mars Ones parent company is based. The source indicated that the the city declared the company bankrupt on January 15th, which then dissolved the organization. Mars Ones creator…
Read the full article at: https://www.theverge.com/2019/2/11/18220153/mars-one-bankruptcy-bas-lansdorp-human-settlement
Its no secret that to many California consumers, this winters Chapter 11 bankruptcy filing by Pacific Gas & Electric Co. looks as phony as a $3 bill.
Thats because bankruptcy filings are intended to protect companies and individuals whose financial survival is threatened. There is no evidence this states biggest utility is in such deep trouble right now.
Yes, PG&E has other kinds of trouble. It was convicted of criminal negligence in the 2010 San Bruno natural gas pipeline explosion that killed eight persons. A federal judge supervising the companys probation in that case accuses the company of killing people. It faces myriad lawsuits claiming it caused much of the damage done by the massive wildfires of the last two years.
But with a re…
Read the full article at: http://www.chicoer.com/pges-bankruptcy-filing-looks-phony-from-here
Collect $200 and pass go because this is a lesson we can all get behind.
There are so many different life lessons we need to teach our kids to help guide them in life. But at the end of each day, we just hope we have done enough toraise good humans.
Thats why it is crucial to teach the fundamental basics of life to them while theyre still young and more likely to listen to our nagging!
Experts have revealed their top suggestions in helping kids learn the value of money and saving, and surprisingly Monopoly is one of the best ways to help them learn.
Get them interested in money while theyre young
David Scognamiglio, CEO of Credit Simple, has shared his experience, saying kids learn by example.
Children look up to their parents and inevitably …
Read the full article at: https://www.kidspot.com.au/lifestyle/career-and-money/budgeting/experts-claim-monopoly-money-can-help-your-kids-stay-out-of-debt/news-story/4f05675fc915e787d0f3414e630e5fea
As expected from a new set of laws for a complex subject, the Insolvency and Bankruptcy Code is evolving. And as is frequently also the case, the changes in a complex law can get confusing. ET gives a snapshot of where things stand now, and how that affects stakeholders.
Legislation/SC Judgement:
First IBC Amendment (Nov 2017)
| What is the change | Why was it made | What does it mean |
| Introduction of Section 29 A. | Provision introduced to bar promoters from bidding for their companies. | Defaulters prevented from regaining control of their companies at a cheaper value. |
| Persons who have remained in management or control of an account that has been an NPA for more than 12 months barred from bidding. | To ensure that all defaulters a…
Read the full article at: https://economictimes.indiatimes.com/news/et-explains/bankruptcy-code-whats-changed-what-it-means/articleshow/67951799.cms Certain gamblers are clich, right? The business person playing table games during a work trip to Las Vegas, or the retired couples who pour their pensions into the slots in exchange for buffet passes. But who wouldnt you expect to see at the casino? 1. A Tale of Two NunsEveryone knew that Sisters Mary Margaret Kreuper and Lana Chang were gamblers. They were open about their many trips to Vegas, funded by a rich uncle. Except it turned out that the rich uncle was really the parents who were paying for school. The nunsadmitted to siphoning off cash from tuition fees and donations at Saint James School near Los Angeles for at least a decade. While reports estimated that they stole upwards of $500,000 it wasnt confirmed. What was confirmed was t… Read the full article at: https://www.casino.org/blog/top-8-most-surprising-gamblers/ A man ordered to pay Sh18 million compensation to the family of a businessman he killed in road rage has lost bid to be declared bankrupt. Albert Mbogori, who served 14 months in jail for manslaughter, had pleaded with the court to declare him bankrupt because he didnt have cash to pay the award. He killed Edward Benjamin Rahedi. In 2009 the court had awarded the family of Rahedi Sh12 million in pain and loss of dependency. The sum earned interest and now stands at Sh18 million. Mbogori had said as a result of serving the jail term, his business went down and subsequently closed. He relies on his wife, a teacher with a monthly salary of Sh355,000. He promised to conduct a fundraiser to pay Rahedis family if declared bankrupt. In his testimo… Read the full article at: https://www.the-star.co.ke/news/2019/02/12/man-in-road-rage-case-loses-bankruptcy-bid_c1892847 A personal insolvency arrangement (PIA) which involves writing down a 343,785 mortgage debt by more than half has been approved by the High Court for a woman who ran into mortgage arrears due to her husbands gambling problem. Permanent TSB objected to the arrangement, insisting the proposed write down of some 343,785 to 160,000, the current agreed market value of the womans home, was draconian. Mr Justice Denis McDonald said the woman, a public servant in her 40s with net monthly earnings of some 2,900, is separated fr… Read the full article at: https://www.irishtimes.com/news/crime-and-law/courts/high-court/court-approves-insolvency-deal-that-halves-woman-s-mortgage-1.3789632 NEW YORK, Feb. 11, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you. Yangtze River Port and Logistics Limited (NASDAQGS: YRIV) The lawsuit alleges: Yangtze River Port and Logistics Limited made materially false and/or mis… Read the full article at: https://globenewswire.com/news-release/2019/02/11/1716865/0/en/CLASS-ACTION-UPDATE-for-YRIV-VALE-TYME-and-GE-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders.html
Mars One, a Dutch company that planned to send humans on a one-way trip to Mars and start the first human colony on the Red Planet, hasbeen declared bankrupt. The declaration was made in a Swiss court on Jan. 15and posted on Reddit this past weekend officially dissolving Mars One Ventures AG. Bas Lansdorp, company co-founder and CEO, told CBC Newsin an email Monday afternoon that Mars One would issue a press release later in the day. Mars One began accepting applications in 2013 for a mission to establish a permanent settlement on Mars. It planned to launch a total of 24 people in groups of four every two years starting in 2024. The company claimed it could do so using existing technology. It estimated launching the first four people would… Read the full article at: https://www.cbc.ca/news/technology/mars-one-bankrupt-1.5014522 A High Court ruling clarifying a provision of the Personal Insolvency Acts is good news for a large number of debtors appealing decisions that their applications for court approval of personal insolvency arrangements were made out of time. Mr Justice Denis McDonald granted an appeal by a debtor against a Circuit Court finding last October that his application, with a view to getting approval of a personal insolvency arrangement, was not “made” within the 14 day period provided for in Section 115A (2) of the Personal Insolvency Acts 2012-2015 (the Acts). The judge disagreed with the Circuit Court the word “made” in that context also meant “served”.
The debtor owes a total sum of around 755,000 and 60.7 per cent of his creditors had voted in… Read the full article at: https://www.irishexaminer.com/breakingnews/business/court-ruling-is-good-news-for-debtors-pursuing-insolvency-deals-903706.html
Avadel Pharmaceuticals The once-nightly formulation of sodium oxybate is in the Phase III stage of its development. Divis says that this far it is the most promising asset to the company. If approved, we believe FT218, with once-nightly dosing, will provide a significant improvement for patients over the current standard-of-care, he states. … Read the full article at: https://fdaheadlines.com/avadel-pharmaceuticals-plc-nasdaqavdl-announces-a-corporate-restructuring-plan-to-maximize-on-the-value-of-ft218/ PG&E is restructuring its board following the deadly wildfires that caused severe and extensive damage in California last year. The company, which is Californias biggest utility, expects just five out of 10 of its current directors to stand for re-election at an annual shareholder meeting scheduled for May 21, the Associated Press reports. We fully understand that PG&E must re-earn trust and credibility with its customers, regulators, the communities it serves and all of its stakeholders, the utility said in a statement. We recognize the importance of adding fresh perspectives to the Board to help address the serious challenges the business faces. Last month, PG&… Read the full article at: http://fortune.com/2019/02/11/pge-reshapes-board-wildfires/ |
