Insolvency Guardian Media Centre
NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Yangtze River Port and Logistics Limited (“Yangtze River”
or the “Company”)(NASDAQ:YRIV) of the March 4, 2019 deadline to seek the
role of lead plaintiff in a federal securities class action that has
been filed against the Company.
If you invested in Yangtze River stock or options between February 2,
2016 and December 5, 2018 and would like to discuss your legal
rights, click here: www.faruqilaw.com/YRIV.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292
or at 212-98…
Read the full article at: https://www.businesswire.com/news/home/20190124005684/en/LEAD-PLAINTIFF-DEADLINE-ALERT-Faruqi-Faruqi-LLP
Ready to acquire Adhunik Metaliks, Maharashtra Seamless tells lendersLenders to bankrupt Adhunik Metaliks (AML) on Thursday filed appeals before the Kolkata bench of the National Company Law Tribunal (NCLT) for providing additional time for completion of the insolvency resolution process, as they have received application from Maharashtra Seamless stating that it is ready to acquire the debt-ridden company.
The NCLT reserved its order on the CoCs application for granting an extension of time in the corporate insolvency resolution process (CIRP) in this case.
While UK-based Liberty House, the successful resolution applicant, failed to make the upfront cash payment within the stipulated time, Maharashtra Seamless, the second-highest bidder (…
Read the full article at: https://www.financialexpress.com/industry/ready-to-acquire-adhunik-metaliks-maharashtra-seamless-tells-lenders/1454261/
Administrators of Eastern Goldfields say their preliminary investigations into the Michael Fotios-led company show it may have been trading while insolvent for as long as 15 months before its collapse in November.
A report from Ferrier Hodgsons Martin Jones and Andrew Smith shows the company could have fallen into insolvency as early as August 2017, when operations began at the Davyhurst mine near Kalgoorlie, with cash flows failing to cover operating costs and trade payments.
From that point the same month the company spent one day in the hands of court-appointed administrators after falling foul of a wind-up application its financial troubles deepened.
Reputational damage from the wind-up order led some suppliers to demand the company p…
Read the full article at: https://thewest.com.au/business/mining/query-from-administrators-of-eastern-goldfields-over-fotios-gold-play-ng-b881084078z
KOLKATA: State Bank of India has deferred the sale of Essar Steels Rs 15,431 crore loans to February 11 on poor investor response even as the delay in companys insolvency resolution process was criticised by ArcelorMittal, which has been declared the highest bidder by its lenders.
SBI, which has the largest exposure in Essar Steel, has said it took the decision on request of potential buyers. The e-auction for the loan was earlier scheduled for January 30.
The countrys largest lender has now extended the deadline for putting up a bid to January 30. Incidentally, the bank extended the deadline for inviting bids twice in last few days, first to January 23 from January 18, and now to January 30.
Essar Steels Committee of Creditors (CoC) …
Read the full article at: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/sbi-defers-sale-of-essar-steel-loans-to-february-11/articleshow/67676663.cms
NEW YORK, Jan. 24, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Yangtze River Port & Logistics Limited (Yangtze or the Company) ( YRIV) Investors are advised to contact Robert S. Willoughby at [emailprotected] or 888-476-6529, ext. 9980.
The investigation concerns whether Yangtze and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
[Click here to join a class action]
On December 6, 2018, Hindenburg Research (Hindenburg) published a report entitled Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report described Yangtze as a scheme run by its Cha…
Read the full article at: https://www.gurufocus.com/news/805161/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yangtze-river-port–logistics-limited–yriv
NEW YORK–(Business Wire)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Yangtze River Port and Logistics Limited (“Yangtze River”
or the “Company”)(NASDAQ:YRIV) of the March 4, 2019 deadline to seek the
role of lead plaintiff in a federal securities class action that has
been filed against the Company.
If you invested in Yangtze River stock or options between February 2,
2016 and December 5, 2018 and would like to discuss your legal
rights, click here: www.faruqilaw.com/YRIV.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292
or at 212-983-933…
Read the full article at: http://www.digitaljournal.com/pr/4125008
CASPER, Wyo. (AP) – A Colorado-based coal company going through bankruptcy proceedings has asked for permission to sell its mine in southwestern Wyoming.
The Casper Star-Tribune reports a recent court filing shows Westmoreland Coal Co. requested to sell its Kemmerer mine by the end of February.
The company declared bankruptcy in October with more than $1.4 billion in debt amid declining demand for the fuel.
It has attempted to cut retiree benefits and end its contract with union miners.
The company argued that parties interested in buying the mine would not buy with the union contract in place.
…
Read the full article at: https://www.kgwn.tv/content/news/Bankrupt-coal-company-wants-to-sell-Wyoming-mine-504790352.html
Jilan Moore (68) was the director of Beijing Dragon Catering Limited, the company that acted as the trading vehicle for three licensed restaurants across Lincolnshire known as The Beijing Dragon.
Beijing Dragon Catering was incorporated in September 2007 and at the companys height, Jilan Moore ran three restaurants in Spilsby, Grimsby and Skegness with her husband.
From 2013, Jilan Moore ran the restaurants as the sole director before closing down one of the eateries in Skegness and by September 2016, the trading company went into liquidation.
The insolvency of Beijing Dragon Catering triggered an investigation by the Insolvency Service, when investigators discovered that the tax authorities had previously dealt with the company afte…
Read the full article at: https://www.gov.uk/government/news/jailed-restaurant-owner-served-with-directorship-ban
Spliethoff Group has confirmed its purchase of five multipurpose (MPP) heavylift vessels from the fleet of bankrupt operator Hansa Heavy Lift (HHL).
The Dutch MPP operator has acquired four 12,750-dwt F-type ships and one 20,100-dwt P-type for an undisclosed price.
It is buying the vessels a month after the German company was declared insolvent with a fleet of 11 heavylift MPP ships.
Spliethoff confirmed it is taking over the 12,750-dwt HHL Elbe (built 2008) and HHL Tyne (built 2009), which have a combined crane capacity of 300 metric tonnes.
It has also acquired the 12,750-dwt HHL Amur and HHL Mississippi (both built 2009), which have a slightly larger combined crane capacity of 360 tonnes.
The vessels have been renamed Hudsongracht, H…
Read the full article at: https://www.tradewindsnews.com/liner/1681740/spliethoff-snares-ships-from-troubled-hansa-heavy-lift
There were 209 corporate insolvencies recorded for the period 1 October to 31 December, eight more than the same quarter in 2017-18.
This number included 129 compulsory liquidations, 80 creditors voluntary liquidations and 122 members voluntary liquidations. No receiverships were recorded in the last quarter.
Overall, corporate insolvency numbers in Scotland for the whole of 2018 were 21% higher than in 2017, and were at their highest level since 2012.
Jim Cooper, chair of R3 in Scotland, the insolvency and restructuring trade body, said: Its not especially surprising to see corporate insolvencies in Scotland at a higher level in 2018 than in the previous year, as 2017 recorded the lowest number of annual corporate insolvencies for quite so…
Read the full article at: https://www.accountancydaily.co/corporate-insolvency-rates-edge-scotland
With collective U.S. student loan debt nearing $1.5 trillion, some colleges are testing innovative solutions to help reduce student borrowing.
Using no-strings-attached student loan payoff-assistance programs, college loan alternatives and annual student debt letters, these three universities are doing their part to curb college debt.
1. University of Pittsburgh
The University of Pittsburgh is offering graduating seniors up to $5,000 in federal student loan relief with one request: They pay it forward.
The schools new program, Panthers Forward, will help recent graduates chip away at student debt and introduce them to alumni mentors to encourage professional development. Students have no ob…
Read the full article at: https://www.cbs19.tv/mobile/article/money/nerdwallet/3-colleges-that-help-you-handle-student-debt/606-a2f96d4d-4122-424c-be24-158d6f246d76
A seized $47 million stake in gold miner Tribune Resources is finally on the market, with investment bank Morgan Stanley mandated to offload the shares inside six months.
Interest in the stock, however, is uncertain given governance issues around Tribune and the companys liquidation of its large gold inventory last year to support a special dividend.
The Takeovers Panel ordered the forced divestment of most of the 26 per cent Tribune stake held by its sister company Rand Mining in late October.
The decision comes after investigations which found that investment entities associated with Tribune and Rands managing director, Anton Billis, had materially misinformed Tribune shareholders about his true ownership of the company.
Read the full article at: https://thewest.com.au/business/gold/morgan-stanley-selling-47m-in-shares-for-tribune-resources-ng-b881082995z