Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Share this:BestJet, a Queensland-based airline booking company, went into voluntary administration in December 2018, leaving many Australian customers badly out
BestJet, a Queensland-based airline booking company, went into voluntary administration in December 2018, leaving many Australian customers badly out of pocket.
Thousands of Australians who had outstanding bookings with the company have been told they have no tickets and are now left arguing with multiple parties trying to secure a refund.
In this case, theres a lot of finger-pointing about who is liable, consumer advocate Christopher Zinn toldYour Money Live.
Is it BestJet? Is it the airline ticket consolidator who they work with? Is it the airline? Who has refunded what to whom? The consumer is really left confused by all of this.
While disgruntled consumers are still entitled to compensati…
Credit cards, specifically those used for online gambling deposits, are coming under fire in the United Kingdom. Culture Secretary Jeremy Wright wants to question bookmakers and bankers about his concerns that punters are gambling with money they cant afford.
This push comes due to concerns that as much as 20% of deposits are made on credit, made using money the player doesnt have at the moment. Its also part of a broader push to address gaming addiction.
The Guardian reports that Wright wants gambling operators to do more, or risk losing their licenses. He said, We should also ask if it is right that people should be able to gamble on credit and this is an area that the Gambling Commission are going to look into.
As advised by Mr, Subodh Kumar Agrawal, Resolution Professional, this is to inform that 14th meeting of the Committee of Creditors (COC) will be held on Friday, January 18, 2019 at 11:30 am at the State Bank of India, Stressed Assets Management Branch-II, Raheja Chambers, lst 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.
The UKs largest personal insolvency provider is set to create jobs following the acquisition of a Birmingham-based debt management business.
Creditfix has expanded its range of debt relief solutions by acquiringB2C Finance, trading as Back2Credit, a debt advisor based in Birmingham, in a move which is to create 20 jobs for the city.
Creditfix has helped more than 140,000 people across the UK get back on track with their finances, and it says the acquisition will help it expand its service radius to better support those who need it the most.
Paul Mason, CEO at Creditfix, said: We know that it can be difficult to discuss your debt problems with anyone, even loved ones, but recently we have seen a significant increase in the number of peopl…
The UKs largest personal insolvency provider is set to create jobs following the acquisition of a Birmingham-based debt management business.
Creditfix has expanded its range of debt relief solutions by acquiringB2C Finance, trading as Back2Credit, a debt advisor based in Birmingham, in a move which is to create 20 jobs for the city.
Creditfix has helped more than 140,000 people across the UK get back on track with their finances, and it says the acquisition will help it expand its service radius to better support those w… For the full story register now for free or login below…
Even as austerity is progressively relaxed, Croatias fiscal position will not deteriorate substantially, thanks to solid growth in revenues. This will be underpinned by a strong private consumption outlook and a robust tourism sector.
Solid real GDP growth and primary budget surpluses will improve the outlook for Croatias high debt burden over the coming years.
At Fitch Solutions, we have lowered our budget balance forecasts. We now forecast fiscal surpluses of 0.2%, 0.1% and a deficit of 0.1% of GDP for 2019, 2020 and 2021.
Solid Revenues Helping To Balance Budgets
Croatia – Government Revenue and Expenditure Growth & Budget Balance
f = Fitch Solutions forecast. Source: Eurostat, Fitch Solutions
Absa, one of the countrys top four banks, has been accused by an exotic car dealership of trying to bully it into liquidation with claims that it owes it more than R400m.
The owners of Ballito-based SMD Group, which sells Ferraris, Porsches and Lamborghinis, dispute the amount and said Absa had ignored an offer from a private equity firm to buy the company for almost R200m.
SMD said the latest bank statement showed that it owed Absa only R157m.
The bank has denied acting in bad faith in the matter and brought an urgent winding-up application in the high court in Durban a few days before Christmas. Judge Gregory Kruger refused to consider the matter, saying that it was not urgent. He ordered Absa to…
French BIPV glass manufacturer Sunpartner is seeking buyers for its two businesses after starting insolvency proceedings due to the lack of short-term funding.
French PV glass technology company Sunpartner Technologies has filed for insolvency.
The company said in a statement on its Linkedin account it is seeking buyers for its two businesses, in the building-integrated PV sector and for Internet of Things applications.
Our project had a strong support of the majority of our shareholders, but we did not succeed to raise enough at [the] end of last year, the company said after filing for insolvency on January 8. Our strong IP portfolio, the industrial processes, our knowhow and the expertise of our technical …
ICPW Liquidation (OTCMKTS:ICPWQ) and Industrial Services of America (NASDAQ:IDSA) are both consumer discretionary companies, but which is the superior business? We will compare the two companies based on the strength of their analyst recommendations, profitability, risk, valuation, earnings, institutional ownership and dividends.
Insider & Institutional Ownership
5.1% of Industrial Services of America shares are owned by institutional investors. 11.5% of ICPW Liquidation shares are owned by company insiders. Comparatively, 27.7% of Industrial Services of America shares are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for…
Class-action lawsuits on behalf of participants in the insolvent St. Joseph Health Services of Rhode Island Retirement Plan were filed in state and federal courts in Rhode Island.
The 2,700 participants in the plan learned in August 2017 when it was placed into receivership that the plan had been inadequately funded for years, according to the lawsuit filed on behalf of Stephen Del Sesto, the receiver for the pension fund.
At the time, plan administrators asked the Rhode Island Supreme Court to approve immediate 40% acro…
Credit cards, specifically those used for online gambling deposits, are coming under fire in the United Kingdom. Culture Secretary Jeremy Wright wants to question bookmakers and bankers about his concerns that punters are gambling with money they cant afford.
