Dubai developer is restructuring to narrow losses incurred since 2014
Insolvency Guardian Media Centre
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Turkey is facing a mounting number of applications for bankruptcy protection as a slump in economic growth takes its toll on business.
Requests forkonkordato, a court-sanctioned agreement that allows struggling companies to try and avoid full bankruptcy by restructuring their debt payments in a bid to avoid full bankruptcy, have soared in recent months.
The surge follows a currency crisis over the summer that has triggered a sharp slowdown in the economy and piled pressure on Turkeys indebted corporate sector.
Turkeys trade minster, Ruhsar Pekcan, said this month that the number of companies that had sought bankruptcy protection had reached 846, although many analysts believe that the true figure may be several times higher.
Companies…
Read the full article at: https://www.ft.com/content/0e27734a-0392-11e9-99df-6183d3002ee1
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…Read the full article at: https://www.timesunion.com/news/article/Sears-Kmart-could-be-liquidated-with-no-bid-to-13494172.php
Union Properties approved a 10% share buy-back as part of an ongoing financial restructuring. Pawan Singh / The National Call Now ButtonGo to TopDecember 30, 2018
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Read the full article at: https://www.thenational.ae/business/property/union-properties-approves-share-buy-back-amid-restructuring-1.807648
By Marianne Storey, CEO, Dorset Mind
THERE is a well-known correlation between mental health and debt issues. For many, January is without doubt the hardest time of year. Overspending during Christmas makes managing money even harder and worrying about the fall-out from the festive season can make people who experience poor mental health, even worse.
Half of those with problem debts also have a mental health problem. Debt has been proven to worsen mental health and mental health issues can cause serious debt. Its an unfortunate cycle. For those people that suffer with clinical depression, or mania or hypermania for people diagnosed with bipolar disorder, uncontrollable spending sprees are a common problem (Money Saving Expert,…
Read the full article at: https://www.bournemouthecho.co.uk/news/17326128.dorset-mind-boss-urges-people-in-debt-to-reach-out/
The law firm of Kirby McInerney LLP is investigating potential claims against Yangtze River Port & Logistics Limited (Yangtze or the Company) (NASDAQ:YRIV). This investigation concerns whether Yangtze has violated federal securities laws and/or engaged in other unlawful business practices.
On December 6, 2018, Hindenburg Research (Hindenburg) published a report that described Yangtze as a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets. Among other allegations, the Hindenburg report asserted that Yangtzes only operating entity has been declared insolvent in China and is involved in multiple undisclosed legal proceedings. Based on government-sourced documents and interviews with local of…
Read the full article at: https://www.globalbankingandfinance.com/investor-alert-kirby-mcinerney-llp-announces-an-investigation-of-shareholder-claims-against-yangtze-river-port-logistics-limited/
NEW YORK–(BUSINESS WIRE)–The law firm of Kirby
McInerney LLP is investigating potential claims against Yangtze
River Port & Logistics Limited (Yangtze or the Company) (NASDAQ:YRIV).
This investigation concerns whether Yangtze has violated federal
securities laws and/or engaged in other unlawful business practices.On December 6, 2018, Hindenburg Research (Hindenburg) published a
report that described Yangtze as a scheme run by its Chairman &
controlling shareholder to siphon money away from U.S. public markets.
Among other allegations, the Hindenburg report asserted that Yangtzes
only operating entity has been declared insolvent in China and is
in…Read the full article at: https://www.businesswire.com/news/home/20181229005007/en/INVESTOR-ALERT-Kirby-McInerney-LLP-Announces-Investigation
NEW YORK–(BUSINESS WIRE)–Dec 29, 2018–The law firm of Kirby McInerney LLP is investigating potential claims against Yangtze River Port & Logistics Limited (Yangtze or the Company) (NASDAQ: YRIV ). This investigation concerns whether Yangtze has violated federal securities laws and/or engaged in other unlawful business practices.
On December 6, 2018, Hindenburg Research (Hindenburg) published a report that described Yangtze as a scheme run by its Chairman & controlling shareholder to siphon money away from U.S. public markets. Among other allegations, the Hindenburg report asserted that Yangtzes only operating entity has been declared insolvent in China and is involved in multiple undisclosed legal proceedi…
Read the full article at: https://apnews.com/56e2a30f19c74d9ab4fda044266b8fb7
The Deposit Guarantee Fund is working to liquidate the assets of insolvent Ukrainian banks. Its glassy headquarters in central Kyiv was originally built for Nadra Bank, which was declared insolvent in 2015.Photo by Kostyantyn Chernichkin
The Deposit Guarantee Fund of Ukraine has extended the terms of liqui…
Read the full article at: https://www.kyivpost.com/business/ukrinform-deposit-guarantee-fund-extends-liquidation-of-two-banks.html
From rags to riches and back again.
Former Sunderland striker Asamoah Gyan, who was earning $409,000-a-week at Shanghai SIPG, became the latest start to reportedly go broke yesterday.
The Ghanaian striker used to drive around in a Rolls-Royce but is now understood to have just $1,000 in his bank account while being unable to provide for his family.
Yet hes not the only footballer to go broke.
Here, we take a look back at the high-profile stars who blew their millions on booze, bets and football academies.
RONALDINHO
Brazils legendary skillster was reported to have just $8 in his bank account last month while still owing debts of up to $3.15 million.
Ronaldinho was heavily fined for illegal construction in a protected area in Brazil.
Despite remo…
Read the full article at: https://www.news.com.au/sport/football/rags-riches-rags-again-ten-stars-who-blew-their-footballing-fortune/news-story/ae7963132c11e7a8199b8ca026827706
DEBT is an essential part of any business. All companies should have some amount of debt to help finance its growth and investments for the longer term. It is an efficient way of managing the balance sheet.
But taking on too much debt can restrict a companys operational flexibility, and increase its risk of financial problems in a challenging economic environment.
So, there is only a fine balance between what is regarded as healthy and dangerous debt level and it varies across businesses and industries.
A research on 309 companies (excluding financial institutions) listed on Bursa Malaysia shows 188 firms in a net debt position as at end-September 2018.
In total, net debt increased 10.2% to RM286.3bil from a year ago.
Related stories:
Read the full article at: https://www.thestar.com.my/business/business-news/2018/12/29/higher-debt-palatable-gearing/
The year 2018 also witnessed major changes in the field of Insolvency and Bankruptcy Code(IBC).
While the year 2017 witnessed SC explaining the basic concepts of the nascent legislation, the year 2018 saw SC addressing more complex issues in relation to it.
The significant decisions of 2017 wereInnoventive Industries v ICICI LtdandMobilox Innovations Pvt Ltd v Kirusa Software Ltd.
Innoventive Industriesexplained IBCs objective and the procedure for initiating Corporate Insolvency Resolution Process(CIRP).The judgment also threw light on the concepts of financial debtor , operational debtor, dispute etc under IBC.Mobiloxdecision rendered clarity to the concept of dispute in relation to operational creditor. It was held that in case of an ope…
Read the full article at: https://www.livelaw.in/insolvency-bankruptcy-code-2018-annual-round-up/
Did you rack up credit card debt over the festive season? The sooner you tackle it, the quicker youll be back in the black. Which? shares our top tips of taking control of your finances in 2019.
Three in five Brits with debt wait two-and-a-half years before confronting their problem, while almost half would wait more than three years before reaching out for professional advice, according to a survey carried out by Creditfix, a personal insolvency practice.
But ignoring a debt will only make the problem grow. With a new year set to begin, Which? explains how to clear your credit card debt in 2019.
Find out where you stand
It can be tough to face up to the reality of your situation, but you should start by working out exactl…
Read the full article at: https://www.which.co.uk/news/2018/12/how-to-pay-off-christmas-credit-card-debt/
