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NEW YORK–(BUSINESS WIRE)–Aegean Marine Petroleum Network Inc. (NYSE:ANW) (Aegean or the
Company) announced today that the Company and certain of its
subsidiaries (the debtors) filed voluntary petitions for relief under
Chapter 11 of the US Bankruptcy Code in the Bankruptcy Court for the
Southern District of New York. The debtors enter this process with the
support of Mercuria Energy Group Limited (Mercuria), a key strategic
partner and one of the worlds largest independent energy and commodity
companies. Mercuria has agreed to provide more than $532 million in
postpetition financing to fund the chapter 11 process and the Companys
working capital needs. It has also …
This is to inform you that pursuant to the provisions of Regulations 17, 19 and 20 of the IBBI(Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the second meeting of Committee of Creditors (“CoC”) of the corporate debtor is scheduled to be held on Saturday, 3rd November, 2018 at 11 A.M. at Hold K.C. Residency, SCO: 377 – 380, Sector -35B, Chandigarh – 160022,
Riga, Latvia, 2018-11-06 09:07 CET (GLOBE NEWSWIRE) —
On 5 November 2018, a scheduled general meeting of shareholders of ABLV Bank, AS in liquidation took place, where the consolidated and separate financial report of the company for 2017 was approved.
In 2017, the banks operating income totalled EUR 101.4 million, while the profit amounted to EUR 44.7 million. As at 31 December 2017, the deposits with the bank constituted EUR 2.68 billion and the assets amounted to EUR 3.68 billion. In 2017, the group paid EUR 20.9 million in taxes to the state budget.
As reported earlier, after the decision of the European Central Bank and the Single Resolution Board, on 26 February 2018 shareholders of ABLV Bank were forced to make a decision…
The National Company Law Tribunal (NCLT) is set to hear all the caveats filed by the operational creditors and aggrieved parties together in the Essar Steel insolvency case starting November 28.
Apart from the three separate cases already filed against the ArcelorMittal resolution approved by Committee of Creditors, some operational creditors are planning to move NCLT when it reopens on Monday after the festival holidays, a source said.
Sizeable haircut
Some of the banks and operational creditors have to take substantial haircut if the CoC-approved ArcelorMittals plan is okayed by the NCLT, he added.
For instance, Indian Oil Corporation and Bharat Petroleum Corporation is set to lose about 4,000 crore, if the ArcelorMittal offer is accepted…
Muscat: Residents and citizens of Oman who are short on assets and finding it difficult to fund themselves and their families can claim bankruptcy legally under the law.
In a series of articles about Omans rules and regulations, entitled Know Oman, experts guide readers on their rights and responsibilities while working and living in Oman.
Speaking exclusively to the Times of Oman, representatives of Al Faqih & Co., one of the leading law firms in Oman, explained the process involved in filing for bankruptcy.
Unlike other countries where several alternatives are available, the bankruptcy of a merchant must be declared by the Court under the laws of Oman.
Article 579 of the Law of Commerce (Royal Decree 55/1990) states that any merchant wh…
A mother of triplets in eastern China offered her sons for adoption on a live-streaming social media platform after her gambling debt-laden husband abandoned her when the children were barely four weeks old.
Her husband, surnamed Zhao, returned after the incident was covered by local media, Zhejiang-based news site Thehour.cn reported on Monday. The mothers account on the social media site TikTok was deleted, but screenshots of her posts offering the babies are still in circulation.
The 27-year-old woman, identified by her surname, Li, who is from Feidong county in Anhui province, married Zhao, 36, in 2013. After she became pregnant in 2017, she discovered her husband had stopped work and had run up 100,000 yuan (US$14,000) in gambling …
Lloyds Banking Group is planning a major restructuring of its workforce, adding 2,000 jobs as it refocuses its operations on digital technology.
Britains biggest high street lender will cut 6,000 jobs but create another 8,000 as part of a 3bn reorganisation over the course of the next two years.
The job losses will be spread across the group transformation division, corporate banking, retail and community banking, Sky News reported. New roles will be oriented towards digital technology.
It is understood that existing Lloyds employees whose jobs disappear will be offered the chance to apply for the new roles, fitting in with an existing re-training drive.
Lloyds recognised unions, Unite and Accord, have been consulted on the plans, which…
Verizon Communications Inc.s new chief executive is restructuring the carriers business lines, including its massive wireless business, in one of the first major organizational changes under his leadership.
Hans Vestberg is reorganizing the companys divisions by the types of consumers served, rather than by the type of service provided, the company said Monday.
The customers will actually have access to all the assets we have, including 4G and faster 5G wireless, broadband and wireline service, Mr. Vestberg said of the changes in an interview.
Ronan Dunne, 55 years old, currently group president of Verizon Wirelessthe firms biggest unitwill now lead the new Verizon Consumer Group. That new division includes consumer-focused …
We would like to inform you that meeting of the 07th Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Tuesday, 06th November 2018 at 11.00 A.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India.
US-based department store chain Sears Holdings has sought court approval to sell its Sears Home Improvement business (SHIP) through a stalking horse asset purchase agreement with Service.com for approximately$60m in cash.
The sale process will be conducted under Section 363 of the US Bankruptcy Code and has received approval from the companys restructuring committee featuring its independent directors.
Based inLongwood, Florida SHIP is a business unit of the Sears Home Services division.
Sears Holdings chief financial officer Robert A Riecker said: The sale of SHI…
Several Cabinet ministers and influential backbenchers have rallied behind Tracey Crouch since she quit the Government last week on a point of principle over delays to betting reforms.
Ms Crouch wants to cut the maximum stake from 100 every 20 seconds to 2, and was furious when, in his Budget, Chancellor Philip Hammond announced reforms to the law would be postponed for six months until October 2019.
The delay in slashing the stake on fixed-odds bett…
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President Xi and African leaders at the FOCAC summit in Beijing, September 2018
Africa is facing a looming debt crisis, say leading development economists.
“Almost 40% of sub-Saharan African countries are in danger of slipping into a major debt crisis” according to the Overseas Development Institute, ahead of a major conference on debt being held in London this week.
And the relationship between African nations and China is often seen as a significant part of the problem.
Its critics say that major infrastructure project…
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