NEW YORK, Feb. 24, 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.
Danske Bank A/S (OTCMKTS: DNKEY)
Class Period: Purchasers of American Depositary Receipts between January 9, 2014 and October 23, 2018
Lead Plaintiff Deadline: March 11, 2019
Join the action: https://www.zlk.com/pslra-1/danske-bank-a-s-loss-form?wire=3
Allegations: Danske Bank A/S made materially false and/or misleading statements through…
Read the full article at: https://globenewswire.com/news-release/2019/02/24/1741171/0/en/CLASS-ACTION-UPDATE-for-DNKEY-YRIV-UXIN-and-GE-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders.html
By PTI
MUMBAI: There is a need to strengthen the insolvency resolution process by having deterrents against failure or delays in implementing resolutions plans, a report said Monday.
In the last two years, Insolvency and Bankruptcy Code (IBC) was implemented, three concluded corporate insolvency resolution process (CIRPs) being brought back to the National Company Law Tribunals (NCLTs), it said.
“The need of the hour is to strengthen the (resolution) mechanism to ensure that the resolution plans approved by the National Company Law Tribunal (NCLT) are firmly implemented so that the sanctity of the process is maintained. The three cases which came back to NCLTs went into liquidation,” domestic rating agency ICRA …
Read the full article at: http://www.newindianexpress.com/business/2019/feb/18/need-to-strengthen-corporate-insolvency-resolution-process-icra-1940417.html
According to a Freedom of Information request made by real estate adviser Altus Group, a total of 298.07 million was paid out by The Insolvency Service to former employees of business which ran into trouble during 2018.
It was the highest level for five years, with the high street crisis contributing to the increase.
The number of retail insolvencies rose by 9.5% while insolvencies at food and beverage establishments were up 17.9%.
Insolvency Service payments comprised 196.36 million of redundancy pay and 59.85 million in wages which would have been earned working a notice period.
The rest went on holiday pay, unpaid wages, overtime and commission.
This included companies which entered administration, liquidation, company voluntary arran…
Read the full article at: https://www.independent.ie/world-news/taxpayer-foots-300-million-bill-for-insolvency-payouts-to-former-staff-in-2018-37849771.html
Tens of thousands of students are using their loans to gamble in a bid to top up their funds,with many ending up in debt to the tune of 5,000 or more, a new report suggests.
Students are increasingly turning to gambling as the student support provided by the government has failed to keep up with the rising costs of living, the National Union of Students (NUS) says.
…
Read the full article at: https://www.independent.co.uk/news/education/education-news/student-loans-gamble-debt-money-university-a8792571.html
PepsiCo is undoubtedly one of the largest companies in the world who has a huge dominance over cold drink industry. However, according to recent reports PepsiCo has decided to do mass layoff of its employees because of its restructuring plan. PepsiCo has recently started a restructuring plan which is going to cost company millions of dollars of money and layoff of its employees is a significant part of that plan. Recently the company has fired two of its employees from its significant plants, and both employees have signed a nondisclosure agreement which will prevent them to say anything regarding their layoff. A few days ago PepsiCo while submitting its reports to Security Exchange and Commission mentioned that its restructuring cos…
Read the full article at: https://amazingnews24.com/2019/02/24/pepsico-has-decided-to-layoffs-its-employees-for-restructuring-the-company/
Answer: Bankruptcy is not uncommon – particularly since the recession. There were 473 bankruptcy adjudications in 2017 in Ireland, according to the Insolvency Service of Ireland – so you are not alone here.
However, your experience with insurers is not an anomaly – many of the mainstream home insurers will not provide cover to someone who has been declared bankrupt, as unfair as this may seem.
The good news is you will be able to get cover – you just need to know where to look. I must stress at this juncture that it is vitally important that you realise there is a legal requirement to inform your insurers about your bankruptcy. A lot of people in similar situations do not realise this and only find out when it is too late – that is, when…
Read the full article at: https://www.independent.ie/business/personal-finance/home-insurance-struggle-after-bankruptcy-37847035.html
NEW YORK, Feb. 24, 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)
Class Period: February 2, 2016 – December 5, 2018
Lead Plaintiff Deadline: March 4, 2019
Join the action: https://www.zlk.com/pslra-1/yangtze-river-port-and-logistics-ltd-loss-form?wire=3
Allegations: Yangtze River Port and Logistics Limited made materially false and/or misleading …
Read the full article at: https://globenewswire.com/news-release/2019/02/24/1741151/0/en/CLASS-ACTION-UPDATE-for-YRIV-W-ATVI-and-VALE-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders.html
To recover its loans from Jet Airways, state-run lender SBI is mulling moving National Company Law Tribunal as it feels the airline is running out of funds for operations, even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said.
Shareholders of Jet Airways have approved conversion of loan into shares and other proposals during the Extraordinary General Meeting (EGM) on Thursday.
A consortium of banks, led by the SBI, has extended loans to Jet Airways, which is looking to rejig debt and raise funds.
Officials associated with the lenders and key shareholders said the SBI is considering moving the National Company Law Tribunal (NCLT) seeking in…
Read the full article at: https://www.business-standard.com/article/pti-stories/sbi-weighs-nclt-route-for-recovery-of-loans-from-jet-airways-119022400431_1.html
The Special Investigating Unit (SIU) is investigating the alleged theft of R139 billion from Eskom, related to the construction of the Medupi and Kusile power stations, the Sunday Times has reported.
This is reportedly part of a broader SIU investigation into the theft of about R170 billion from the power utility.
The paper reported that the SIU is looking at 11 contractors as part of its investigation into the building of the two units. It is reportedly one of the biggest undertaken by the SIU yet, with the unit bringing in additional investigative capacity, including expert engineers.
The investigation began in June 2018 and also comprises other state authorities like the National Prosecuting Authority, the Asset Forfeiture Unit…
Read the full article at: https://www.fin24.com/Economy/siu-probes-r139-billion-rot-at-medupi-and-kusile-report-20190224
Sky News has learnt that a syndicate of lenders including prominent hedge funds has appointed FTI Consulting to advise on their interest in one of Britains biggest retailers.
FTIs appointment is understood to have been signed off just days before Christmas, with Debenhams hoping to defy expectations of a dire festive trading period for the wider non-food retail sector.
The move will come as Debenhams prepares to hammer out the details of a wide-ranging restructuring plan that will involve closing dozens of stores, axing thousands of jobs and seeking an agreement with banks and other creditors.
The company has total borrowing facilities of just over 500m, which are due to expire next year but which can be extended until 2021.
Its mainst…
Read the full article at: https://feltonbusinessnews.com/debenhams-lenders-brace-for-crunch-restructuring/91724/
Social worker Jenny McCabe helps other people all the time, but it was her own financial stress that put her on the path to getting help herself.
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