Insolvency Guardian Media Centre
April 2011: “The club has been rescued, thank God, of the fantastic heritage of Liverpool Football Club, but it was a close call.”
William Gaillard, adviser to UEFA president Michel Platini.
May 2012: People have short memories, its only 15-16 months ago we were a day away from being in administration. We are now stable financially. Its year one of what they (Fenway) said when they bought the club would be a long journey. Christian Purslow, Liverpool .
February 8, 2019: “My personal view is that this is a really significant turnaround. We have come from near bankruptcy not that long ago to being really successful, competitive and improving across the board.” Andy Hughes, LFC Chief Financial Officer.
Just eight years after a pair of Ameri…
Read the full article at: https://www.liverpoolecho.co.uk/sport/football/football-news/how-fsg-pulled-economic-miracle-15796583
FULLBEAUTY Brands Holdings has completed a financial restructuring to emerge from chapter 11 bankruptcy with around $35m in new financing.
The company has cleared approximately $900m of debt during the bankruptcy process.
In January 2019, the fashion brand signed a comprehensive restructuring support agreement with its key stakeholders, including equity sponsors Apax Partners and Charlesbank Capital Partners, in an effort to reduce the debt.
Now that the company has emerged from bankruptcy, affiliates of Apax Partners and Charlesbank Capital Partners will now acquire minority stakes for thei…
Read the full article at: https://www.retail-insight-network.com/news/fullbeauty-financial-restructuring-bankruptcy/
Terence Coventry, from Gainsborough, Lincolnshire, was appointed the sole director of Alliance Traffic Services Ltd in April 2016 before he caused the company to enter into a factoring agreement a month later.
The factoring agreement, which Coventry personally guaranteed, set out the terms where an independent finance company would buy Alliance Traffic Services invoices in return for advanced finances.
However, between May 2016 and March 2017, Coventry abused his position of trust as a director and caused of Alliance Traffic Service to breach the terms and conditions of the factoring agreement, despite being personally liable.
He failed to ensure company sales invoices were correctly produced and some customers paid money directly to Allian…
Read the full article at: https://www.accountancydaily.co/extended-bankruptcy-after-boss-caused-ps177k-loss-finance-company
CEDARHURST, N.Y., Feb. 08, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff w…
Read the full article at: https://globenewswire.com/news-release/2019/02/08/1714266/0/en/FILING-DEADLINE-Kuznicki-Law-PLLC-Announces-Class-Actions-on-Behalf-of-Shareholders-of-YRIV-ALKS-MAXR-and-TYME.html
(Reuters) – Arconic said on Friday it would split into two companies and slashed its quarterly dividend by two-thirds, just weeks after the U.S. aluminum products maker spurned a buyout offer from Apollo Global Management.
The company, formed following a split of Aloca Corp in 2016, plans to spin off one of its core divisions later.
Arconic has been under pressure from its biggest shareholder Elliott Management Corp to sell itself and Apollos offer last month could have valued the company at about $17 billion.
However, potential legal liabilities from its smaller building and construction systems unit likely put a question mark on the valuation.
The unit had supplied the Reynobond PE panels used in the cladding of the Grenfell Tower apar…
Read the full article at: https://www.reuters.com/article/us-arconic-restructuring/arconic-plans-to-split-its-two-core-businesses-idUSKCN1PX1IQ
NEW YORK, Feb. 08, 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.
Nissan Motor Co., Ltd. (OTCMKTS: NSANY)
Class Period: December 10, 2013 – November 16, 2018
Lead Plaintiff Deadline: February 8, 2019
Join the action: https://www.zlk.com/pslra-1/nissan-motor-co-ltd-loss-form?wire=3
Allegations: Nissan Motor Co., Ltd. made materially false and/or misleading statements throughout the class period and/or fa…
Read the full article at: https://globenewswire.com/news-release/2019/02/08/1714190/0/en/CLASS-ACTION-UPDATE-for-NSANY-YRIV-W-and-MKL-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders.html
Compared to the latest wind selling price (69c), we must eliminate 36c of cost from the capital recovery to make Medupi competitive with wind. This requires a 68% write-off of the asset value making a R131bn deficit in the Eskom balance sheet.
As Jabu Mabuza said: Someone must pay.
5. The one basic truth
There is one basic truth: business is risky. And Eskom is a business. In business, risks are borne by shareholders. For Eskom that means us.
Eskom took on substantial risk when it approved construction of the two coal-fired power stations Medupi and Kusile. Other capital projects around the world have exceeded their budgeted costs. For example, the International Space Station, various infrastructu…
Read the full article at: https://www.businesslive.co.za/bd/opinion/2019-02-08-eskom-restructuring-is-just-the-illusion-of-action/
This press release was orginally distributed by SBWire
Edison, NJ — (SBWIRE) — 02/08/2019 — A new business intelligence report released by HTF MI with title “Global Credit Settlement Market Size, Status and Forecast 2018-2025” has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Credit Settlement Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of the key players profiled in the study are Guardian Debt …
Read the full article at: http://www.digitaljournal.com/pr/4149305
We refer to the intimation made on January 28, 2019 for 15th Meeting of Committee of Creditors (COC) and would further like to inform you that the said meeting was conducted on February 02, January, 2019 to provide business and Corporate Insolvency Resolution Process (CIRP) updates and discussion was held between CoC members and the Resolution Applicant on the resolution plan presented by the Resolution Applicant.
The e-voting for consideration of the Resolution Plan held at the 15th meeting of the CoC commenced on Monday, February 04, 2018, at 04:15 p.m. and concluded on Tuesday, February 05, 2018, at 04:15 p.m. The said Resolution Plan was rejected by the members. A petition has been submitted for liquidation to the NCLT, Mumbai Bench…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ushdev-international-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article26213835.ece
Mattel has revealed its fourth quarter financial results, in which Barbie and Hot Wheels were by far the companys strongest brands with highest full year gross sales. This also helped to offset the declines in its other brands such as Fisher-Price, Thomas and American Girl.
The company reported a full year net sales of US$4.51 billion and fourth quarter net sales of US$1.52 billion. Out of which, Barbies gross sales in the quarter increased by 12% and 15% in constant currency, compared to the previous year. This was primarily driven by positive point-of-sale (POS) brand momentum, as said in the financial report. Meanwhile, Hot Wheels gross sales for the quarter increased by 9% and 12% in constant currency, compared t…
Read the full article at: https://www.marketing-interactive.com/barbie-and-hot-wheels-pull-mattel-to-success-despite-toys-r-us-liquidation-impact/
Retirement planning
People try to save as much as they can for retirement. However, most find that their efforts often fly out the window without a proper goal and plan.
Creating an achievable long-term retirement plan is absolutely necessary. Likewise, its also important to learn the skills that will enable an individual to grow their retirement nest eggfrom creating a plan to investing and everything in between.
How to save money
Saving money requires a simple strategy that takes the individuals income, expenses, budget and savings goals into consideration. There are many strategies that individuals can employ to save money according to their specific purpose without sacrificing their quality of life. In fact, small changes in their lifest…
Read the full article at: https://www.nestegg.com.au/investing/financial-literacy
news, latest-news,
A popular Wendouree clothing outlet will shut its doors after its parent company announced Australia-wide stores would enter voluntary administration in mid-January. The Ed Harry store inside Stockland Wendouree will soon close after clearing its stock, leavingone full-timeand five casualmembers looking fora new job. Parent company KPMGs voluntary administratorBrendan Richards spoke about the nation-wide store closure. Unfortunately, and despite having run a comprehensive sale of business campaign, there have been no viable offers received for the ongoing operations of the Company, he said. Ed Harry Managing Director David Clark also thanked the Ed Harry team in a statement provided toThe Courier. Our hard working Ball…
Read the full article at: https://www.thecourier.com.au/story/5894238/no-viable-offers-means-closing-day-looms-for-wendouree-store/