Insolvency Guardian Media Centre
Hundreds of UK travel agents and tour operators could go out of business within three years, accordingto research commissioned by Radio 4s consumer programme, You and Yours.
The BBC programme asked the insolvency firm Opus Restructuring to analyse Company Watch data on the finances of almost 4,000 travel firms.
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Read the full article at: https://www.independent.co.uk/travel/news-and-advice/travel-agents-uk-fold-out-business-close-tour-operators-finances-bbc-you-yours-monarch-a8735156.html
With the reference to our earlier intimation notice dated 18th January, 2019 for 14th meeting of the
Committee of Creditors (COC) which was scheduled to be held on 22nd January, 2019 at 03:00 pm, we
hereby inform you that the same meeting has been rescheduled on Tuesday, 22nd January, 2019 at
10:45 am at the State Bank of India, Stressed Assets Management Branch-II, Raheja Chambers, 1st
Floor, B Wing, Free Press Journal Marg, Nariman Point, Mumbai- 400021.
This letter may be treated as communication under Regulation 30 and any other applicable provisions,
if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Pdf Link:
Ushdev International Ltd. – Corporate Insolvency Resolution Process (CIRP)-Intimatio…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ushdev-international-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article26049162.ece
MNP Consumer Debt Index
Canadians more worried about debt, interest rates and personal finances compared to September.
MNP Ltd.
- Number of Canadians who say they dont make enough to cover their bills and debt obligations increased by 7 points to 31%
- Number of Canadians within $200 of insolvency increased by 6 points to 46%
- Number of Canadians who say they are feeling the effects of interest rate increases jumped 6 points to 51%
- Number of Canadians concerned about their ability to repay de…
Read the full article at: https://globenewswire.com/news-release/2019/01/21/1702759/0/en/MNP-Consumer-Debt-Index-Update-Canadians-more-worried-about-debt-interest-rates-and-personal-finances-compared-to-September.html
Smithfield Foods has made a raft of changes to its leadership structure in a move to unify all its operations, brands, and more than 54,000 employees globally under one corporate umbrella.
Virginia-headquartered Smithfield said the new structure aims to in infuse innovative ideas in all aspects of the company and heighten its strategic focus.
The restructuring includes the addition of a chief operating officer, a position held by Dennis Organ.
This new role oversees and unifies all Smithfields domestic business operations management, including the companys hog production, fresh pork, and packaged meats businesses. Organ is responsible for strategic development, day-to-day operations and improvement of the Smithfields US businesses.
Greg…
Read the full article at: https://www.foodbev.com/news/smithfield-foods-appoints-coo-as-part-of-restructuring-efforts/
Yet another iconic Australian fashion brand has fallen victim to the ailing retail sector, with sportswear manufacturer Skins on the brink of collapse.
The company has applied for bankruptcy in a Swiss Court, with chairman Jaimie Fuller confirming the news and revealing his devastation in a lengthy public statement.
The threat ahead for axed Karl
Wedding drama sparks $1.2 million idea
A Trustee will be appointed to assume responsibility for the company with almost immediate effect, Mr Fuller wrote on the companys website last week.
My management team and I have left no stone unturned in an effort to avoid this. I apologise unreservedly to all those affected by it.
I am enormously regretful and sad that it has got to…
Read the full article at: https://www.news.com.au/finance/business/retail/australian-sportswear-manufacturer-applies-for-bankruptcy/news-story/41fe674f0633794bccf561b5653453b4
teamwork business woman accounting concept financial in office On 21 January 2019, Change Financial Limited (ASX: CCA), an information technology company who develops a digital banking platform for peer-to-peer transfer and other day-to-day banking tool announced that restructuring of its mobile banking business. As a result of this restructuring, there a downfall seen in the share prices of the company by 5.085%.
Through the restructuring in the mobile banking business along with other measures, the company would be able to save its cost. The company has also entered into an agreement with Central Bank of Kansas City (CBKC) effective from 19 January 2019, which is its UK banking partner to eliminate its losses from ChimpChange in the pas…
Read the full article at: https://kalkinemedia.com/blog/2019/01/21/ccas-restructuring-of-chimpchange-could-not-impress-the-investors-share-price-tumbled-by-5-085/
(Unsplash/RawPixel) A Christian charity is calling for more financial education on Blue Monday as people across the UK struggle with rising levels of personal debt.
After the Christmas splurge, millions will be coming face to face with the cost of the celebrations as the credit card bills come through the letter box on Blue Monday, traditionally dubbed the most depressing day of the year.
With debt a problem for people across the UK, Community Money Advice (CMA) said financial education for children as well as adults was becoming increasingly necessary to help more people stay on top of their finances.
According to the Money Charity, almost 10 million UK households have absolutely no savings whatsoever, while another 3.26 million have less …
Read the full article at: https://www.christiantoday.com/article/more-financial-education-needed-to-help-brits-stay-debt-free/131521.htm
My management team and I have left no stone unturned in an effort to avoid this, Mr Fuller said in his statement.
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I am enormously regretful and sad that it has got to this point. Even as late as yesterday [ January 16] it looked like there was an option for avoiding this action but events conspired against us and left us with no option at all.
Mr Fuller pointed to 2008, when the global financial crisis hit, that lead to the companys eventual downfall this year.
He said he sold a portion of SKINS in the midst of the midst of the GFC to a private equity firm and added he made a lousy deal.
And in a bid to get out of that arrangement once the crisis ended, the company borrowed heavily to buy out the private equity shareholder.
To my enorm…
Read the full article at: https://www.smh.com.au/business/companies/sportswear-manufacturer-skins-applies-for-bankruptcy-in-swiss-court-20190121-p50smt.html
SINGAPORE – Water cleaning firm Hyflux faced its grey-haired creditors on Friday (Jan 18) for the second time since it filed for bankruptcy protection, in a bid to rally support to carry through what has proven to be a tough rescue deal.
No definitive answers were given when investors asked repeatedly how much of their money they could expect to recover. Only one new figure was shared by EY, the financial adviser.
In a liquidation scenario, only senior unsecured creditors, namely banks and note holders, will get paid. They can expect a recovery rate of 3.8 to 8.7 per cent.
Subordinated creditors like perpetual and preference share holders will get nothing in a liquidation scenario.
Hyflux chief Olivia Lum opened two townhall sessions …
Read the full article at: https://www.straitstimes.com/business/companies-markets/hyflux-says-perpetual-and-preference-shareholders-will-lose-everything-in
(Unsplash/RawPixel) A Christian charity is calling for more financial education on Blue Monday as people across the UK struggle with rising levels of personal debt.
After the Christmas splurge, millions will be coming face to face with the cost of the celebrations as the credit card bills come through the letter box on Blue Monday, traditionally dubbed the most depressing day of the year.
With debt a problem for people across the UK, Community Money Advice (CMA) said financial education for children as well as adults was becoming increasingly necessary to help more people stay on top of their finances.
According to the Money Charity, almost 10 million UK households have absolutely no savings whatsoever, while another 3.26 million have less …
Read the full article at: https://www.christiantoday.com/society/more-financial-education-needed-to-help-brits-stay-debt-free/131521.htm
The National Company Law Appellate Tribunal (NCLAT) has said that the National Company Law Tribunal (NCLT) should not hear any third party, other than the applicant who has taken a company to the NCLT and the company which is the corporate debtor itself, at the time of the admission of a case.
We may observe that except the applicant (financial creditor) and the corporate debtor, there is no requirement of hearing a third party including the intervenor at the stage of admission, the NCLAT said. IDBI Bank had moved the NCLAT against the repeated adjournments in NCLT Kolkata during the corporate insolvency resolution case filed by it against Odisha Slurry Pipeline Infrastructure.
In its order…Read the full article at: https://www.business-standard.com/article/companies/no-need-to-hear-out-3rd-party-during-insolvency-admission-nclat-tells-nclt-119012000724_1.html
With the last streaks of daylight fading on a mild October evening, the cars pulled up in waves at Pieros Italian Cuisine, an old-school Las Vegas hotspot known for its osso buco.
Cadillacs with tinted windows. Taxis and rideshares. A black Bentley limousine and a white minivan. Men and women emerged, most casually dressed, there for the first of a series of posh, private events hosted by the video gambling industry during the 2018 Global Gaming Expo, North Americas largest gambling trade show. They included gambling executives, lobbyists and about a dozen Illinois lawmakers.
The politicians had flown to Las Vegas to learn about the latest developments in the gambling industry and to discuss its expansion in Illinois, including propo…
Read the full article at: https://chicago.suntimes.com/news/legalized-video-gambling-illinois-bad-bet-poker-slot-gaming-machines-propublica-wbez/
