Insolvency Guardian Media Centre
Former minister of social development Bathabile Dlamini might not have enough money to pay legal fees a court has ordered her to pay.
Rapport reported on Sunday that Dlaminis share portfolio of R21081 and home in Pietermaritzburg might be insufficient to cover legal costs the Constitutional Court ordered her to pay this week.
The court ruled on Thursday Dlamini has to pay 20% of the legal costs of the Black Sash Trust and Freedom Under Law including costs of two counsels incurred in the social grants debacle.
Dlamini was the social development minister at the time of the debacle and is now the minister in the presidency responsible for women.
According to Parliaments register of interests Dlamini …
Read the full article at: https://www.timeslive.co.za/politics/2018-09-30-bathabile-dlamini-may-not-be-able-to-foot-her-legal-bill-report/
When Under Armour (NYSE: UA)(NYSE: UAA) told investors in late July that the cost of its ongoing business restructuring would be higher than initially expected, shares plunged more than 13% over the next few days in response.
Early Thursday, however, the performance apparel and footwear specialist increased the price of that restructuring yet again — only this time, the market rewarded shareholders with a 5% pop. So what gives?
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The third time’s the charm?
More specifically, Under Armour says “following further evaluation” after its latest quarterly report, it has decided to reduce its global workforce by roughly 3%. The move will result in roughly $10 million of cash severance charges, bringing the pre-tax cost of …
Read the full article at: https://www.foxbusiness.com/markets/the-price-tag-for-under-armours-restructuring-just-went-up-again
Katie Price was reportedly spotted spending £600 on perfume despite being told she has 12 weeks to come up with a viable payment plan in order to avoid being declared bankrupt by the High Court.
The skint 40-year-old star, who has blown most of her £45 million fortune, was seen at The Perfume Shop in Horsham, West Sussex, splurging on fancy scents.
“Everyone was staring as she walked in,” an onlooker said. “Me and my friends were shocked as we read about her money problems and how she’s skint
“Yet she didn’t care and spent all that money on perfume!”
(Image: Splash)
They added to The Sun: “It was loads of high-end stuff, and she just handed her card over. She…
Read the full article at: https://www.mirror.co.uk/3am/celebrity-news/katie-price-spotted-splurging-600-13283216
HYDERABAD: The Supreme Court has stayed insolvency proceedings at Mack Soft Tech, an Indian subsidiary of Irish business group Quinn that owns Q-City, an IT park in Hyderabad housing offices of Amazon, Mytrah Energy and TCS, among others.
The top court bench comprising Justice Rohinton Fali Nariman and Justice Indu Malhotra on Monday stayed the insolvency proceedings, while directing the respondents to file counters in a weeks time.
This comes even as investigating agency Enforcement Directorate is intensifying its probe into the alleged money laundering of millions of dollars at Mack Soft Tech and advising the resolution professional to alert the prospective resolution applicants regarding the ongoing probe.
The key resolution applic…
Read the full article at: https://economictimes.indiatimes.com/industry/banking/finance/banking/supreme-court-stays-mack-soft-insolvency-ed-probes-money-laundering/articleshow/65894200.cms
Almost everyone dies owing at least some debt. Sometimes its only last months ordinary bills plus final medical expenses. But there can be shocking surprises for survivors debts unknown to the children and even to the spouse of the deceased. Heirs might discover large credit card balances, undisclosed home equity loans or gambling debts.
Creditors are entitled to payment, from the money and property (the estate) that your loved one left behind. But what if he or she didnt leave enough to get everyone repaid? Can the creditors come after you?
Sometimes yes, sometimes no. With loans secured by property, such as mortgages, an heir has to keep up the monthly payments or else sell the property to cover the debt. Uns…
Read the full article at: http://www.sandiegouniontribune.com/caregiver/sd-he-caregiver-debt-death-20180920-story.html
When Under Armour (NYSE:UA)(NYSE:UAA) told investors in late July that the cost of its ongoing business restructuring would be higher than initially expected, shares plunged more than 13% over the next few days in response.
Early Thursday, however, the performance apparel and footwear specialist increased the price of that restructuring yet again — only this time, the market rewarded shareholders with a 5% pop. So what gives?
IMAGE SOURCE: UNDER ARMOUR.
The third time’s the charm?
More specifically, Under Armour says “following further evaluation” after its latest quarterly report, it has d…
Read the full article at: https://www.fool.com/investing/2018/09/20/the-price-tag-for-under-armours-restructuring-just.aspx
This week print-lovers everywhere mourned the loss of one of fashions brightest brands as the news broke that Orla Kiely had collapsed into administration.
The 1970s-inspired label was renowned for its quirky floral and graphic prints and boasted the Duchess of Cambridge and Alexa Chung as loyal fans.
…
Read the full article at: https://www.independent.co.uk/life-style/fashion/orla-kiely-where-to-buy-liquidation-ebay-homewares-outlet-a8546461.html
The Campaign Against Impunity (CAI), a non-governmental organisation, has called on regulators in the countrys oil and gas, and maritime sectors to intervene in the alleged liquidation of Sea Trucks Group (STG), an indigenous company, by some expatriates.
CAI has written to major actors and regulators in the sectors such as Nigerian National Petroleum Corporation (NNPC), the National Petroleum Investment Management Services (NAPIMS), Nigerian Content and Development Monitoring Board (NCDMB), and the Nigerian Maritime Administration and Safety Agency (NIMASA).
In the letters, we have urged these stakeholders to engage with the facts of the crisis involving STG and its liquidator, while acting in manners that uphold t…
Read the full article at: https://www.premiumtimesng.com/business/business-news/284595-group-asks-govt-to-intervene-in-fraudulent-liquidation-of-nigerian-company-by-expatriates.html
Under Armour said Thursday that it will spend $US10 million on severance payments not previously reported as it works to reduce its global workforce by 3%
Its the second round of layoffs in the past year for the struggling athletic brand, which cut about 140 jobs at its Baltimore headquarters last August, when it first announced the $US200 million restructuring plan. The layoffs should be completed by April 2019, it said, without adding how many jobs were being cut.
In our relentless pursuit of running a more operationally excellent company, we continue to make difficult decisions to ensure we are best positioned to succeed, David Bergman, Under Armours chief financial officer, said in a press release. This…
Read the full article at: https://www.businessinsider.com.au/under-armour-layoffs-to-spend-10-million-on-severance-for-3-percent-of-workforce-2018-9
NEW YORK (Reuters) – New Yorks attorney general on Thursday sued 10 companies and two executives over their alleged roles in a scam to induce thousands of struggling borrowers into buying student loan debt relief services that they could have received for free.
Barbara Underwood, the attorney general, said defendants typically charged more than $1,000 for their services, often imposing usurious interest rates, after luring borrowers with false claims such as being affiliated with the government, or that their help was needed if borrowers wanted relief.
Underwood said about $1.34 trillion of federal student loan debt is outstanding, and that the defendants targeted many of the nearly 10 million borrowers who are late on their payments.
T…
Read the full article at: https://www.reuters.com/article/us-new-york-student-loans-lawsuit/new-york-lawsuit-targets-student-loan-debt-relief-fraud-idUSKCN1M02U2
A German-based investment fund will take over high-profile yacht builders Bavaria.
A private equity fund advised by the Berlin-based investment company CMP Capital Management-Partners will acquire the entire business of Bavaria Yachtbau, the German-based builder of motorboats, sailboats and catamarans, and continue operations of the company. It will also acquire all shares in its French subsidiary Bavaria Catamarans SAS.
Bavaria fell into administration in April this year, however, was able to strike a temporary deal to maintain operations to fulfil a sizable order book obtained on the back of new model launches in 2017-18. The insolvency of Bavaria came as numerous management changes in recent years made an inherent strategy difficult. A…
Read the full article at: http://www.theherald.com.au/story/5655920/yacht-builder-bavaria-back-in-business/
There are a lot of differences between refinancing and consolidating debt. This is what you need to knowShutterstock
When it comes time to make a change to the structure of your business debt, you have a few options available to you as a small business owner. Each aims to make your debt less of a burden over time and reduce the overall cost to you. If evening out your cash flow or knocking a bit off that lifetime cost of your loan (or loans) sounds appealing, you may want to consider either consolidating or refinancing.
Consolidating and refinancing are two different approaches to restructuring your business loans, though you may (confusingly) hear the two terms used interchangeably. Lets explore the …
Read the full article at: https://www.forbes.com/sites/jaredhecht/2018/09/20/refinancing-vs-consolidating-business-debt-whats-the-difference/