Insolvency Guardian Media Centre

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.
Sears Holdings Corp. is preparing to potentially wind down the iconic retailer after Chairman Eddie Lamperts bid to buy several
A critic of Royal Bank of Scotlands disgraced restructuring unit has spent 20,000 on a billboard berating the high street
Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid
After having its SSL and EVSSL certificates deemed untrustworthy by the most popular browsers, VASCO announced that DigiNotar, filed a
"As liquidation will get only a meagre value, the creditors will be most affected and the workmen will be losing
Ahead of the season two premiere of "grown-ish" on Wednesday night, Freeform teamed up with the scholarship app Scholly to
FROM rags to riches and back again. Former Sunderland striker Asamoah Gyan, who was earning 227,000-a-week at Shanghai SIPG, became
NEW YORK, Jan. 04, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port
NEW YORK, Jan. 05, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Yangtze River
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics
Many people juggle between a load of bills and loans. If you are one of them, you have to do

Sears Holdings Corp. is preparing to potentially wind down the iconic retailer after Chairman Eddie Lamperts bid to buy several hundred stores out of bankruptcy fell short of bankers qualifications, people with knowledge of the matter said.

The retailer started laying the groundwork for a liquidation after meetings Friday in which its advisers weighed the merits of a $4.4 billion bid by Lamperts hedge fund to buy Sears as a going concern, said the people, who asked not to be identified because the discussions are private. If the 125-year-old retailer does die in bankruptcy like Toys R Us in 2018, and Borders Group Inc. in 2011 it would mark the largest fatality yet in the retail apocalypse pr…

Read the full article at: http://fortune.com/2019/01/06/sears-prep-liquidation/

A critic of Royal Bank of Scotlands disgraced restructuring unit has spent 20,000 on a billboard berating the high street bank as part of efforts to reinstate an investigation into wrongdoing at the lender.

Neil Mitchell, a Scottish businessman, has paid four months up front on a 5,000 a month billboard on the A23 in Croydon, south London, in an effort to bolster support for his legal challenge.

The billboard, designed as a newspaper front page, shows the RBS logo dripping with what looks like blood and alleges the bank caused austerity, suicides, banks crimes, economic destruction. The word suicide is punctuated with an asterisk sourcing an internal memo in which staff were told to let businesses hang themselves.

NEIL MITCHELL
(@RNW_…

Read the full article at: https://www.theguardian.com/business/2019/jan/06/rbs-critic-pays-20000-for-billboard-criticising-bank

Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid payment of taxes only to re-establish themselves under different trading names.


This was revealed by Finance minister Mthuli Ncube in the National Assembly last month during the debate on the Finance Bill.


Ncube is proposing the insertion of a harsh clause to the statutes to hold devious directors of companies that are wound up or declared insolvent liable in their personal capacities.


Lawmakers have taken great exception to the proposal which says a director in a company that goes bust and is declared insolvent is immediately liable for the tax liabilities of the firm.

Ncube argued in the National Assembly that su…

Read the full article at: http://www.newsdzezimbabwe.co.uk/2019/01/we-were-duped-of-35-billion-minister.html

After having its SSL and EVSSL certificates deemed untrustworthy by the most popular browsers, VASCO announced that DigiNotar, filed a voluntary bankruptcy petition and was declared bankrupt today. This is unsurprising, since a report issued by security audit firm Fox-IT, who has been hired to investigate the now notorious DigiNotar breach, revealed that things were far worse than we were led to believe.

Read the full article at: https://www.osnews.com/story/25178/diginotar-files-for-bankruptcy/

“As liquidation will get only a meagre value, the creditors will be most affected and the workmen will be losing their livelihood,” the tribunal said in an order passed on January 1 on an RP proposal from the union submitted on Dec. 19, 2018.

The bench cited a recent Supreme Court order in the Arcelor Mittal case wherein the apex court had said observed that the corporate debtor consists of several employees and workmen whose daily bread depends on the outcome of RP. And so if there is a resolution applicant who could continue to run the company as a going concern, every effort must be made to try and see that this is made possible.

Accordingly, “the main objective of the IBC is resolution rather than liquidation. If the liquidation is ord…

Read the full article at: https://www.bloombergquint.com/business/reid-taylor-nclt-stalls-liquidation-accepts-union-bid-for-company

Ahead of the season two premiere of “grown-ish” on Wednesday night, Freeform teamed up with the scholarship app Scholly to help pay off student loan debt.

In the promo, Freeform announced it has partnered with Scholly on a program that will pay off up to $125,000 in student loan debt.

Current students and graduates with an outstanding loan balance may apply for the program, which states that the goal is to “pay off your debt – so you can start living your best life.”

“College is great but student loans suck,” the promo says.

PHOTO: A scene from Grown-ish.Tony Rivetti/Freeform
A scene from “Grown-ish.”

The program is now taking first round submissions on myscholly.com or the Scholly app. Winners will be announced at the 2019 Freeform Summi…

Read the full article at: https://abcnews.go.com/GMA/Culture/freeform-promotes-grown-ish-launches-program-pay-off/story?id=60138038

FROM rags to riches and back again.

Former Sunderland striker Asamoah Gyan, who was earning 227,000-a-week at Shanghai SIPG, became the latest start to reportedly go broke yesterday.

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Instagram

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Former Sunderland striker Asamoah Gyan is understood to be broke

The Ghanaian striker used to drive around in a Rolls-Royce but is now understood to have just 600 in his bank account while being unable to provide for his f…

Read the full article at: https://ghanasoccernet.com/ten-footballers-who-went-bankrupt-after-reports-asamoah-gyan-is-broke

NEW YORK, Jan. 04, 2019 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Yangtze River Port & Logistics Limited (Yangtze or the Company) (Nasdaq: YRIV) in the United States District Court for the Eastern District of New York, on behalf of a class consisting of investors who purchased or otherwise acquired securities of Yangtze between February 2, 2016 through December 5, 2018 (the Class Period), seeking to recover damages caused by Defendants violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 promulgated thereunder.

The Complaint alleges that Yangtze and certain…

Read the full article at: https://globenewswire.com/news-release/2019/01/05/1680856/0/en/Gainey-McKenna-Egleston-Announces-A-Class-Action-Lawsuit-Has-Been-Filed-Against-Yangtze-River-Port-Logistics-Limited-YRIV.html

NEW YORK–()–Rosen Law Firm, a global investor rights law firm, reminds purchasers of
the securities of Yangtze River Port and Logistics Limited (NASDAQ:
YRIV) from February 2, 2016 through December 5, 2018, inclusive (the
Class Period) of the important March 4, 2019 lead plaintiff deadline
in the first filed case commenced by the Rosen Firm. The lawsuit seeks
to recover damages for Yangtze River investors under the federal
securities laws.

To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html
or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at
866-767-3653 or email [email protected]
or zha…

Read the full article at: https://www.businesswire.com/news/home/20190105005001/en/YRIV-NOTICE-ALERT-Rosen-Law-Firm-Reminds

NEW YORK, Jan. 05, 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/795003/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yangtze-river-port–logistics-limited–yriv

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen Firm. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.

To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [emailprotected] or [emailprotected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS…

Read the full article at: https://www.globalbankingandfinance.com/yriv-notice-alert-rosen-law-firm-reminds-yangtze-river-port-and-logistics-limited-investors-of-important-deadline-in-first-filed-class-action-yriv/

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