NEW YORK Sears Holdings Corp. is preparing a wind down 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.
Sears representatives summoned liquidation firms and other advisers to emergency meetings on Friday after r…
Read the full article at: https://www.bostonglobe.com/business/2019/01/06/sears-prepares-for-liquidation-after-takeover-bid-fails-sources-say/33YLwvnj8EHCfrVprbfncP/story.html
A FORMER All Blacks rugby star has been accused of tricking women out of thousands of pounds to fund a gambling addiction.
Regan King, 38, is said to have pleaded with the two women for help with cash flow problems but failed to pay them back.
Getty Images – Getty
The ex-All Blacksand Scarlets centre admitted owing the women thousands ofAustralian dollars in emails, BBC Wales reports, but he has declined to comment.
Diana Stalteri from Perth, in Western Australia, told the website she met King online in 2017 and was asked if he could borrow cash after a few months of them dating.
The 40-year-old had just signed withPerth Rugby Club and Diana said she agreed to lend himsome of …
Read the full article at: https://www.thesun.co.uk/news/8134037/regan-king-new-zealand-rugby-women-conned-gambling/
ABOUT400 employees, including those in Dubbo, are facing an uncertain Christmas after the national freight company Redstar Transport Pty Ltdwas placed in liquidation. Redstar Transport has offices in Dubbo, Melbourne, Sydney, Brisbane, Adelaide and Perth. A callto the Redstar office in Dubbo for a comment wasntanswered, but it is believed that the Dubbo office employs about 20 people. The company was in the news last year after Roads and Maritime Services officers were called to the Dubbo office following atragic fatal accident that took the lives oftwo brothers, aged nine and 12, and seriously injured their four-year-old sibling. Since the company is in liquidation, employees can get their entitlements paid through the Federal Governmen…
Read the full article at: https://www.dailyliberal.com.au/story/5824877/redstar-employees-in-dubbo-face-uncertain-christmas-as-company-liquidated/
Currently, only financial creditors are part of the CoC that decides on a resolution plan and selects the winning bidder.Operational creditors (OCs), mostly MSMEs, may soon cease to get short shrift by the financial creditors, their mightier counterparts. The government is set to equip the OCs with more power under the Insolvency and Bankruptcy Code (IBC). Sources told FE that the plans include according voting rights to OCs like raw material suppliers in proportion to their claims from the defaulter (as admitted by the NCLT) and making them part of the committee of creditors (CoC). Also on the anvil are certain safeguards for them to receive proceeds as stressed firms go for liquidation.
Currently, only financial creditors are…
Read the full article at: https://www.financialexpress.com/industry/insolvency-law-operational-creditors-to-get-more-teeth-heres-how/1435474/
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
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/
