Just when you thought Sears Holdings Corp. was on its way out, the bankrupt department store retailer could be saved once again by a $120 million infusion from its Chairman Eddie Lampert.
Sears shares jumped 33% in afternoon trading Tuesday, after the potential Lampert rescue was revealed, reversing a loss of as much as 50% earlier in the session. The companys sto…
Read the full article at: https://www.marketwatch.com/story/these-are-the-pieces-of-the-sears-that-still-have-value-in-a-liquidation-2019-01-08?mod=newsviewer_click
The TUC has today announced that household debt in the UK has increased by nearly 1,000 per household to 15,385, in the past year.
The figure which includes, bank overdrafts, personal loans, store cards, payday loans, outstanding credit card debt and student loans but excludes mortgages, totals 428bn nationwide.
With that, wellbeing expert and CEO of Health Assured, David Price offers some advice to employers, on what they can do when a member of staff might be in debt.
It is not uncommon for bank accounts to feel the squeeze after the Christmas period. Experiencing money problems can seriously impact an individuals mental health and overall productivity at work so employers who take measures to help employees when they are struggling m…
Read the full article at: https://londonlovesbusiness.com/how-to-help-employees-with-debt/
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Yangtze River Port and Logistics Limited. (Yangtze River or the Company) (NASDAQ: YRIV) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Companys shares between February 2, 2016 and December 5, 2018, inclusive (the Class Period), are encouraged to contact the firm before March 04, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 40…
News that the Italian government signed a decree on Monday January 7 to permit both state-backed guarantees for any new bond issues by struggling Genoan lender Banca Carige and, if needed, a precautionary recapitalization by the state will be of little surprise to seasoned observers of European banking.
Italy has provided a masterclass in the gaming of the European bank resolution regulations (BRRD) and, following the highly controversial insolvency of the Veneto banks, Popolare di Vicenza and Veneto Banca, in 2017, it was only a matter of time before the state would again be called upon to prop up another debt-laden Italian bank.
The ECB instituted an extraordinary administration at Carige, replacing the board with its own te…
Read the full article at: https://www.euromoney.com/article/b1clwst4w47v5t/how-many-times-can-banca-carige-delay-the-inevitable
The Greater Williamsburg Chamber and Tourism Alliance is switching things up a bit.
When Senate Bill 942 created the Tourism Council under the authority of the alliance in July, there was a chance to do some housekeeping to make the alliance run a little more smoothly, said Jeanne Zeidler, the chairwoman of the alliances board of directors.
Were still in the transition. Senate Bill 942 offers an opportunity to do some restructuring of the alliance and to also work on rebranding the organization, she said.
Under the overall direction of the alliances board, which existed prior to the restructuring, the alliance now consists primarily of a new Business Council and the Tourism Council. The former takes the lead in ch…
Read the full article at: https://www.vagazette.com/news/va-vg-alliance-restructuring-0105-story.html
SAN BERNARDINO, Calif. (AP) Greed, debt and a gambling problem drove a Southern California man to kill his business partners family with a sledgehammer and bury their bodies in the desert, prosecutors said …
Read the full article at: https://www.wkrn.com/news/defense-other-partner-killed-family-buried-them-in-desert/1691711075
Aside from mortgages, unsecured debt in the latter half of 2018 saw a rise of 886 per household on the previous year, with total debt adding up to an astonishing 428billion, compared to 286billion in 2008.
These figures put together several factors including personal loans, overdrafts, store and credit card debts and student loans.
Yes, the TUC is hoping to leverage these figures to discomfit the Tories on the platforms of austerity and wage stagnation.
Equally, and despite being applauded for its high employment figures, the Government should answer for relying on the insecurity caused by the gig economy, shift work and zero-hours contracts. As we move into Brexit year, we must reconsider the minimum wage and help to make work pay for the …
Read the full article at: https://www.express.co.uk/comment/expresscomment/1068892/debt-finances-mortgage-brexit-olivia-colman-tuc-nhs-express-comment
Dear Sir,
Sub: Outcome of 3rd CoC Meeting of M/ 5. Southern Online Bio Technologies Limited scheduled
on 8th January, 2019.
With reference to the subject cited above, I would like to inform you that the following matters
are the outcome of the 3rd Committee of Creditors Meeting of M/ 5. Southern Online Bio
Technologies Limited held on 8th January, 2019.
1. Discussed on the 2nd CoC meeting minutes and approved by the members of the CoC
2. Discussed on status of claims received
3. Discussed on the Expression of Interests received by the RP, discussed on the evaluation
matrix parameters and confirmed the changes, RP need to incorporate the changes in the
evaluation matrix and draft should be sent to the members of the CoC for their confirmation
and a…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/southern-online-bio-technologies-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article25939641.ece
The fortunes of a company and its staff are inextricably linked. But there is one area where even if the company is liquidated, an employee is not affected the management of the individual employees retirement fund.
While a company is responsible for collecting each staff members contributions made to the company provident or pension fund, once the contributions have been forwarded to the administrator managing the retirement fund, they become assets of the employee.
In the unfortunate event of the company being liquidated, creditors of the company have no claim on the retirement funds collected on behalf of employees. Retirement funds belong to the employees and will be safely looked after by the fund administrator.
We k…
Read the full article at: https://www.iol.co.za/personal-finance/retirement/your-company-gets-liquidated-what-happens-to-your-retirement-fund-18737650
NEW YORK, Jan. 07, 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.
YRC Worldwide Inc. (NASDAQGS: YRCW)
Class Period: March 10, 2014 – December 14, 2018
Lead Plaintiff Deadline: March 4, 2019
Join the action: https://www.zlk.com/pslra-1/yrc-worldwide-inc-loss-form?wire=3
Allegations: YRC Worldwide Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose tha…
Read the full article at: https://www.gurufocus.com/news/796243/class-action-update-for-yrcw-and-yriv-levi–korsinsky-llp-reminds-investors-of-class-actions-on-behalf-of-shareholders
Bankrupt All American Oil & Gas Inc. of San Antonio is working on a deal to sell its assets to its largest creditor.
The proposed transaction calls for creditor Kern Cal Oil 7 to bid the amount its owed by AAOG for the San Antonio companys assets. Such an offer is known as a credit bid. In October, KCO acquired $142 million in loans made to AAOG.
The bankruptcy had been shaping up to be a hotly contested affair until AAOG and KCO recently agreed to mediate their claims.
…
Read the full article at: https://www.expressnews.com/business/eagle-ford-energy/article/Bankrupt-San-Antonio-oil-company-could-be-sold-to-13515493.php
Dear Sir / Madam,
We would like to inform you that meeting of the 09th Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Monday, 14th January 2019 at 11.00 A.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article25938774.ece
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