Insolvency Guardian Media Centre
NEW YORK, Feb. 11, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.
Yangtze River Port and Logistics Limited (NASDAQGS: YRIV)
Class Period: February 2, 2016 – December 5, 2018
Lead Plaintiff Deadline: March 4, 2019
Join the action: https://www.zlk.com/pslra-1/yangtze-river-port-and-logistics-ltd-loss-form?wire=3
The lawsuit alleges: Yangtze River Port and Logistics Limited made materially false and/or mis…
Read the full article at: https://globenewswire.com/news-release/2019/02/11/1716865/0/en/CLASS-ACTION-UPDATE-for-YRIV-VALE-TYME-and-GE-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders.html
Mars One, a Dutch company that planned to send humans on a one-way trip to Mars and start the first human colony on the Red Planet, hasbeen declared bankrupt.
The declaration was made in a Swiss court on Jan. 15and posted on Reddit this past weekend officially dissolving Mars One Ventures AG. Bas Lansdorp, company co-founder and CEO, told CBC Newsin an email Monday afternoon that Mars One would issue a press release later in the day.
Mars One began accepting applications in 2013 for a mission to establish a permanent settlement on Mars. It planned to launch a total of 24 people in groups of four every two years starting in 2024. The company claimed it could do so using existing technology.
It estimated launching the first four people would…
Read the full article at: https://www.cbc.ca/news/technology/mars-one-bankrupt-1.5014522
A High Court ruling clarifying a provision of the Personal Insolvency Acts is good news for a large number of debtors appealing decisions that their applications for court approval of personal insolvency arrangements were made out of time.
Mr Justice Denis McDonald granted an appeal by a debtor against a Circuit Court finding last October that his application, with a view to getting approval of a personal insolvency arrangement, was not “made” within the 14 day period provided for in Section 115A (2) of the Personal Insolvency Acts 2012-2015 (the Acts).
The judge disagreed with the Circuit Court the word “made” in that context also meant “served”.
The debtor owes a total sum of around 755,000 and 60.7 per cent of his creditors had voted in…
Read the full article at: https://www.irishexaminer.com/breakingnews/business/court-ruling-is-good-news-for-debtors-pursuing-insolvency-deals-903706.html
Avadel Pharmaceuticals
PLC. (NASDAQ:AVDL)
lost 10.67% in the previous trading session here is the reason why the stock is
hitting new lows. The pharmaceutical company has also set records right
regarding its corporate restructuring activities, which have been under massive
speculation. According to the companys interim Chief Executive Officer, Greg
Divis, the restructuring will add more value to the FT218.
The once-nightly formulation of sodium oxybate is in the Phase III stage of its development. Divis says that this far it is the most promising asset to the company. If approved, we believe FT218, with once-nightly dosing, will provide a significant improvement for patients over the current standard-of-care, he states.
…
Read the full article at: https://fdaheadlines.com/avadel-pharmaceuticals-plc-nasdaqavdl-announces-a-corporate-restructuring-plan-to-maximize-on-the-value-of-ft218/
PG&E is restructuring its board following the deadly wildfires that caused severe and extensive damage in California last year.
The company, which is Californias biggest utility, expects just five out of 10 of its current directors to stand for re-election at an annual shareholder meeting scheduled for May 21, the Associated Press reports.
We fully understand that PG&E must re-earn trust and credibility with its customers, regulators, the communities it serves and all of its stakeholders, the utility said in a statement. We recognize the importance of adding fresh perspectives to the Board to help address the serious challenges the business faces.
Last month, PG&…
Read the full article at: http://fortune.com/2019/02/11/pge-reshapes-board-wildfires/
MANY families are bearing the burden of problem debt as households see their outgoings surpass their income for the first time in nearly 30 years.
The average person has outgoings of 26,800 a year but only has a disposable income of 20,200, says the Office for National Statistics (ONS).
This means they need 6600 a year more than they take home after tax. Debt has been ballooning since 2013, and unsecured borrowing has now hit an all-time high.
Glenn Everett from the ONS said people were more gloomy about their well-being.
He said This may be due to worries about rising debt repayments, which could be driving concerns about their future financial situation.
Benefit changes with rising living costs have hit many people with more than …
Read the full article at: https://www.dailyrecord.co.uk/lifestyle/money/grips-your-debts-experts-give-13967432
Nexus Law Group has added three senior lawyers as group principals.
Maria Monastiriotis, Tara Lucke, and Claudio Venegas have joined the firm. Monastiriotis and Venegas join the firms Sydney office, while Tara Lucke will be based on the Gold Coast, the firm said.
All three bring their own unique insights and perspectives in their areas of expertise and their contributions will have a significant impact to the Nexus Group as move forward, including as we deploy the OpenLaw smart contracts platform, said Marcus McCarthy, Nexus founder.
Monastiriotis, who is the former family practice leader at Slater and Gordon in Sydney, brings to the firm more than 25 years experience. An accredited family law special…
Read the full article at: https://m.australasianlawyer.com.au/news/nexus-gains-three-group-principals-260233.aspx
Nexus Law Group has added three senior lawyers as group principals.
Maria Monastiriotis, Tara Lucke, and Claudio Venegas have joined the firm. Monastiriotis and Venegas join the firms Sydney office, while Tara Lucke will be based on the Gold Coast, the firm said.
All three bring their own unique insights and perspectives in their areas of expertise and their contributions will have a significant impact to the Nexus Group as move forward, including as we deploy the OpenLaw smart contracts platform, said Marcus McCarthy, Nexus founder.
Monastiriotis, who is the former family practice leader at Slater and Gordon in Sydney, brings to the firm more than 25 years experience. An accredited family law special…
Read the full article at: https://www.australasianlawyer.com.au/news/nexus-gains-three-group-principals-260233.aspx
The Supreme Court (SC) on Monday dismissed a plea by 28 operational creditors of Essar Steel seeking to be heard by the National Company Law Tribunal (NCLT) before any decision was taken on ArcelorMittals bid for the company. The court also rejected their plea seeking a stay on the National Company Law Appellate Tribunals (NCLATs) order asking the NCLT Ahmedabad Bench to take a decision on ArcelorMittals bid by February 11.
Now, the NCLT will be able to decide the fate of ArcelorMittals bid quickly.
The court was of the opinion that the promoters of Essar Steel were acting through the operational creditors to delay the insolvency process. It said 571 days had passed since the inso…
Read the full article at: https://www.business-standard.com/article/companies/sc-clears-hurdle-for-essar-case-rejects-pleas-by-operational-creditors-119021101169_1.html
Arconic Inc., headquartered in New York City, has reported its financial results for the fourth quarter and full year of 2018 and announced a restructuring of the company into two separate firms.
After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders, Arconic Chairman and Chief Executive Officer John Plant says. The board sees more shareholder value creation through a restructuring of the company. As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products. In addition, we will also explore the potential sale of businesses that…
Read the full article at: http://www.recyclingtoday.com/article/arconic-2018-q4-final-financial-results/
Arconic Inc., headquartered in New York City, has reported its financial results for the fourth quarter and full year of 2018 and announced a restructuring of the company into two separate firms.
After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders, Arconic Chairman and Chief Executive Officer John Plant says. The board sees more shareholder value creation through a restructuring of the company. As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products. In addition, we will also explore the potential sale of businesses that…
Read the full article at: https://www.recyclingtoday.com/arconic-2018-q4-final-financial-results.aspx
A 24-year-old windows and conservatories company in North Somerset has gone into liquidation after falling into financial difficulties.
Brorn Windows, which is based in Congresbury, designs and fits windows and conservatories across the Bristol area.
The company has employed an insolvency practitioner to oversee the winding up of the business and pay off its creditors.
But customers, who may have work unfinished on their homes or have paid for services from Brorn, will be unable to claim a refund as the insolvency practice says there is no money in the pot.
This is despite the companys director Stephen Brett restructuring the business and setting up again as a sole trader with his staff.
A spokesperson for the insolvency prac…
Read the full article at: https://www.bristolpost.co.uk/news/business/brorn-windows-collapse-liquidation-refunds-2531653