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.
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…
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.
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…
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…
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.
A new analysis of surveys among clients on track record / engagement satisfaction and management consultants on reputation has identified Brazils top consulting firms for restructuring and turnaround services.
Companies in Brazil facing financial and operational difficulties, including rapidly deteriorating commercial performance, liquidity concerns, loss of key management / clients or refinancing risk, can according to data sourced by Consultancy.lat best place their faith in tenconsulting firms specialized in restructuring, turnaround and crisis management. These ten consultancies are: Alvarez & Marsal, FTI Consulting, G5 Evercore, Moelis & Co, Rothschild, KPMG, Laplace Financas, Pantalica Partners and RK Partners.
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…
The outcome of the 17th CoC meeting is summarized as herein below:
1. An updated list of creditors- version 5 as on 19th November 2018 was prepared and submitted to NCLT and uploaded on the website of the Company on 28 November 2018. The same was also circulated to the CoC members via email dated 11 December 2018.
2. The RP apprised the CoC about the Core Committee meetings that were held with the Resolution Applicants and the outcomes of the same wherein the Resolution Applicants were informed about various issues and were asked for clarifications in their Resolutions Applicants were informed about various issues and were asked for clarifications in their Resolution Plans submitted earlier. A deadline of 10 December 2018 was given to the…
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…
The number of people facing financial hardship has increased in Scotland, according to official statistics published on Wednesday.
A report by the Scottish insolvency service Accountant in Bankruptcy (AiB) indicates the total number of personal insolvenciesrecorded in the third quarter for 2018-2019 was 3,198.
It represents an increase of 18% on the same period for 2017-2018, when the figure was 2,707.
The total number of personal insolvencies is calculated by combining bankruptcies, a legal declaration that someone cannot pay their debts and protected trust deeds (PTDs), which is a form of insolvency tha…
At one point, Calvin Zhao, who was a 23-year-old graduate student at San Francisco State University, was deep in gambling debt. He managed to find a way out of debt and out of the casinos. Now, he and another man are passing knowledge forward by talking to Asian-American students about gambling debts, and how to gamble responsibly. Their work is part of a larger study on Asian-American young people and gambling. According to their research, Asian-American students are more likely to have unhealthy behavior with regard to gambling. The men have made it their mission to make sure that other Asian students do not spend more money on gambling than they can afford.
Zhaos Experience
Calvin Zhao had just graduated from college and was working whi…
The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the Ahmedabad bench of National Company Law Tribunal (NCLT) to pass appropriate orders in the Essar Steel insolvency case by January 31, failing which the appellate tribunal would take up the matter and pass orders in the case on February 4, when it will hear the matter. The NCLT bench of Ahmedabad has reserved its order on a maintainability plea moved by erstwhile promoters of Essar Steel who have offered to settle the debt by paying back all the creditors.
Appearing for ArcelorMittal, Senior Advocate Neeraj Kishan Kaul on Wednesday said that the Supreme Courts order of October in the Essar Steel insolvency case h…
