Insolvency Guardian Media Centre
Dayton Power and Lights next chief executive will take over a power company that has greatly changed in past years with workforce and business restructuring.
For the second time in less than a year, the company that supplies power to 515,000 customers in 24 counties throughout west central Ohio announced this week a change at the companys helm.
Craig Jackson, DP&L president and CEO, will retire at years end to spend more time with his family and search for new professional opportunities, the utility said this week.
MORE POPULAR STORIES: Dayton Power & Light CEO to resign
DP&L owner AES Corp.s Strategic Business Unit (SBU) said Jackson who also serves as president and CEO of Indianapolis Power & Light Co. (IPL) will leave effectiv…
Read the full article at: https://www.mydaytondailynews.com/business/next-dpl-leader-faces-changing-company-utility-needs/1F3jzP1UEV4fYfeW02W7yK/
The Irish courts have jurisdiction to decide a dispute over an arrested motor pleasure boat bought for more than 1.2m by a company of an Irish-born tax lawyer, a High Court judge has ruled.
The M.V. Connoisseur was arrested last August on foot of a High Court order and remains moored in Dun Laoghaire port.
The 17.29-metre vessel was built in 2017 and was bought for commercial purposes for some 1.26m by Conway Club Limited (CCL), incorporated in early 2017, with registered offices in London.
CCL is legally and beneficially owned by Kevin Conway, a tax lawyer who is Irish born but an English resident for more than 20 years, Mr Justice Denis McDonald said.
Mr Conway was a director of CCL up to November 6, 2017, not long after he was adjudicated…
Read the full article at: https://www.breakingnews.ie/business/irish-courts-can-decide-dispute-over-arrested-12m-motor-pleasure-boat-high-court-rules-890660.html
The Irish courts have jurisdiction to decide a dispute over an arrested motor pleasure boat bought for more than 1.2m by a company of an Irish-born tax lawyer, a High Court judge has ruled.
The M.V. Connoisseur was arrested last August on foot of a High Court order and remains moored in Dun Laoghaire port.
The 17.29-metre vessel was built in 2017 and was bought for commercial purposes for some 1.26m by Conway Club Limited (CCL), incorporated in early 2017, with registered offices in London.
CCL is legally and beneficially owned by Kevin Conway, a tax lawyer who is Irish born but an English resident for more than 20 years, Mr Justice Denis McDonald said.
Mr Conway was a director of CCL up to November 6, 2017, not long after he was adjudicated…
Read the full article at: https://www.irishexaminer.com/breakingnews/business/irish-courts-can-decide-dispute-over-arrested-12m-motor-pleasure-boat-high-court-rules-890660.html
Ford of EuropePicture from the company
Ford Europe said it reshuffled its leadership Friday on the eve of expected news of a big shakeup in the loss-making organization.
Ford is implementing key leadership and organizational changes to improve the fitness and agility of its European operations as it undergoes a fundamental reset and redesign of its business, the company said in a statement.
Ford needs to undertake vigorous measures to sort out problems in Europe. Ford Europe lost $245 million in the 3rdquarter, compared with a loss of $192 million in the same quarter last year. Ford has said it expects a 2018 loss, after a profit of $234 million in 2017.
In a report this week investment bank Morgan Stanley sa…
Read the full article at: https://www.forbes.com/sites/neilwinton/2018/12/07/ford-europe-shakes-up-leadership-ahead-of-expected-restructuring/
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Read the full article at: https://www.wwlp.com/ap-top-news/executive-arrested-in-28m-student-loan-debt-relief-scheme/1644405516
Dear Sir / Madam,
We would like to inform you that the brief particulars of the invitation for expression of interest in Form G as required under the applicable provisions of the Insolvency and Bankruptcy Code, 2016 read with rules and regulation made thereunder has been published on the website of the corporate debtor. The Form G is also sent to Insolvency and Bankruptcy Board of India to publish the same on their website. The copy of Form G is enclosed herewith as Annexure A.
You are requested to take the same on record.
Pdf Link:
Sterling Biotech Ltd. – Corporate Insolvency Resolution Process (CIRP)-Invitation of Resolution Plan
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-invitation-of-resolution-plan/article25687558.ece
Dear Sir / Madam,
We would like to inform you that 18th meeting of Committee of Creditors of ABG Shipyard Limited was held on Thursday, 06th December 2018 at 02:30 P.M. IST at BDO India LLP, Level 9, The Ruby, North West Wing, Senapati Bapat Road, Dadar (W), Mumbai 400028, 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/abg-shipyard-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article25687280.ece
“In terms of the shareholders, it is immediate. It is in cash and it is at a very significant premium.
“For the growers, LTAP takes risk out of the business by putting in place a higher-quality investment grade capital structure for the long term.
“This investment-grade structure will mean it is better than triple B, so better than the company is today and better than the vast majority of Australian companies.
“GrainCorp, under LTAP ownership, will take into account the volatile nature of harvests and is far less likely to get into financial strife than the company is today in its current structure.”
Mr Shepherd spoke out in response to comments casting doubt on the debt-heavy, equity-light nature of the LTAP proposal, which is based on an i…
Read the full article at: https://www.afr.com/business/agriculture/crops/shepherd-promises-farmers-will-be-better-off-with-33b-graincorp-takeover-offer-20181207-h18v4c
Multimillion-dollar app development company Appster has collapsed into liquidation today, with business owners allegedly left empty-handed with unpaid refunds and poorly built apps.
A former golden child of the Australian startup and tech scene, Appster was once hailed as the next Apple by commentators due to the companys intense growth, boasting over $19 million in revenue and more than 400 staff across four international offices prior to its collapse.
However, today the Australian arm and headquarters of the company has been placed into liquidation, appointing administratorPaul Vartelas of BK Taylor & Co liquidators yesterday to manage the process.
Speaking to SmartCompany, Vartelas confirmed the business liquidation said the main r…
Read the full article at: https://www.smartcompany.com.au/startupsmart/news-analysis/appster-collapses-liquidation/
Shares in the struggling Freedom Insurance Groups fell out of bed yesterday after the company warned it could be facing a probe from regulators, liquidity strain in 2019 and a multi-million dollar customer remediation bill.
The life insurance distributor saw its shares plunge more than 47% yesterday to take the loss so far in 2018 to more than 90%. They ended a day of violent trading at 2.9 cents.
That values the company at just over $8 million, meaning that with the prospect of an expected $8 million loss and the customer remediation bill of $3 to $4 million it could see its value wiped if there is not a rebound in the value of the shares soon, or a major new shareholder or source of finance found.
The future of Freedoms cold callin…
Read the full article at: https://www.sharecafe.com.au/2018/12/07/free-falling-freedom-insurance-in-battle-to-survive/
If a slim, yellow envelope with a Rye, New York, return address lands in your mailbox this Christmas season, do not throw it out. Its not junk mail.
Some 1,300 such envelopes have been sent to New Yorkerscontaining the good news RIP Medical Debt, a New York-based nonprofit organisation, has purchased their medical debt and forgiven it.
…
Read the full article at: https://www.independent.co.uk/news/world/americas/medical-debt-new-york-envelopes-healthcare-expenses-million-insurance-a8670961.html
Following months of rumors about its financial difficulties, Swiss business aviation group and ACMI provider PrivatAir announced on Wednesday it filed for insolvency 41 years after it was established. Both PrivatAir SA in Switzerland and its subsidiary PrivatAir GmbH in Germany commenced insolvency proceedings.
Over the past few weeks, a number of events have had a significant impact on the companies future business forecast and viability, which forced the companies to file for insolvency, PrivatAir said in a short statement on its website. It did not give details about what the events entail, but Germanys civil aviation authority Luftfahrt-Bundesamt revoked PrivatAir Germanys license at the end of October. The German carriers two Boein…
Read the full article at: https://www.ainonline.com/aviation-news/business-aviation/2018-12-06/privatair-files-insolvency