James Willesee was a promising young tennis player whose l…
Read the full article at: https://www.dailymail.co.uk/news/article-6494793/Teen-tennis-prodigy-turns-importing-cocaine-pay-online-gambling-debts.html
In his report on the efforts of peoples courts on enforcement difficulties since 2016, before the National Peoples Congress (NPC) Standing Committee on 24 October 2018, Zhou Qiang, the Chief Justice and President of the Supreme Peoples Court (SPC), suggested four measures, including pushing forward establishment of a personal bankruptcy system and improving current bankruptcy law in force.
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Jingtian & Gongcheng
The existing bankruptcy system covers the bankruptcy of enterprises as legal persons, but not bankruptcy of natural persons. When the Enterprise Bankruptcy Law was enacted, the legislature believed it was too early to legislate on personal bankruptcy. The suggestion of the SPC of legislation on person…
Read the full article at: https://www.vantageasia.com/legislation-personal-bankruptcy-agenda/
NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. is investigating potential claims against Yangtze River Port and Logistics Limited ( YRIV). Our investigation concerns whether Yangtze has violated the federal securities laws and/or engaged in other unlawful business practices.
On December 6, 2018, Hindenburg Research published a report entitled Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated. The Hindenburg report 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 insolven…
Read the full article at: https://www.gurufocus.com/news/786221/bragar-eagel–squire-pc-is-investigating-yangtze-river-port-and-logistics-limited-yriv-on-behalf-of-stockholders-and-encourages-yriv-investors-to-contact-the-firm
Axa Investment Managers has shaken up its top management teams after completing a widespread restructuring of its businesses in Europe.
Axa first laid out its restructuring plans in June, saying at the time that the goal was sharpening its operating model and driving future growth and competitiveness. Savings of 100m would come from a new business structure and the possible loss of more than 200 jobs in France and the UK, it said.
On December 14 the company confirmed that the new structure was in place and named the leaders of its new-look divisions.
Andrea Rossi, Axa IMs chief executive, said: The roll-out of this new set-up is a major milestone in our transformation journey. We are building the future of Axa IM with a clear strategi…
Read the full article at: https://www.fnlondon.com/articles/axa-im-reveals-leaders-of-new-look-business-20181214
MOSCOW, Dec 14 (Reuters) – Palmali, one of the biggest players in Russias river-to-sea cargo market, plans to appeal against a court decision declaring its Russian business bankrupt and effectively handing its fleet over to Sberbank, the shipping firms owner said on Friday.
Last month, a court in Rostov-on-Don in southern Russia declared the Palmali unit bankrupt. The unit owes $180 million to Sberbank, with almost all of its roughly 50 ships held as collateral with Russias largest bank.
Palmali also owes 1.6 billion roubles ($24 million) to Russias tax authorities.
Palmalis owner, Mubariz Mansimov, told Reuters the company, which is headquartered in Istanbul and also operates in the Black and Mediterranean Seas, planned to challenge the…
Read the full article at: https://uk.reuters.com/article/palmali-russia-court/palmali-to-fight-court-ruling-on-bankruptcy-of-russian-arm-idUKL8N1YJ1RQ
With credit playing such a huge factor in our financial futures, its no wonder we look for ways to maximize our credit scores. And a common strategy for building our credit scores is to pay off debt, whichcan help improve a credit score, especially if the cardholder is carrying a large balance.
It seems logical, then, to assume that the same strategy applies to ot…
Read the full article at: https://www.marketwatch.com/story/will-paying-off-debt-hurt-my-credit-score-2018-12-14
Dear Sir / Madam,
In addition to our earlier disclosure made on 02nd May 2018, 11th May 2018, 20th June 2018, 12th July 2018, 27th July 2018, 20th August 2018, September 03, 2018, October 01, 2018, October 10, 2018, October 22, 2018, October 24, 2018 and November 20, 2018, we would like to inform you that the Honble National Company Law Tribunal, Ahmedabad Bench (NCLT) in the matter IA 139 of 2018 in CP 53 of 2017, an application made by the Liberty Group PTE Ltd. (applicant), pursuant to Section 60(5) of Insolvency and Bankruptcy Code, 2016 (IBC) has adjourned the hearing of 11th December 2018 to 29th January 2019. The copy of the said order which is enclosed herewith was made available on 14th December 2018.
Further as previously inti…
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/article25742064.ece
(Repeats Thursday story without changes)
* About 10 percent of Czech adults have seizure orders
* Orders cover debts worth $10.5 billion or 5 pct of GDP
* 4.6 mln seizure orders at end-2017 vs 2.5 mln in Germany
* Tens of thousands avoid legal work due to punitive payments
* Exodus to grey jobs hurts economy, jeopardises pensions
* Graphics: tmsnrt.rs/2RFxGCM tmsnrt.rs/2RNiXFG
By Robert Muller
USTI NAD LABEM, Czech Republic, Dec 13 (Reuters) – Olga Petikova first borrowed a few hundred dollars in the 1990s to furnish her young familys apartment. Later, she turned to payday loans to make ends meet as her husband struggled to make his new business a success. The debt soared.
Two decades on, she owes 2 million crowns ($86,938), 11 times her…
Read the full article at: https://www.reuters.com/article/czech-debt/rpt-debt-trapped-czechs-excluded-as-economy-grows-idUSL8N1YI555
A month-long FE Week investigation has uncovered a trail of insolvency and debt left by two businessmen, David Harper and Mark Hargreaves, whove created a complex web of companies involving Talent Training and AMS Nationwide which received millions in apprenticeship funding from the government.
Questions are now being raised over why a multinational employer, Santander, chose to move a lucrative apprenticeship contract from Talent Training to AMS, after the former went bust with 1.4 million debt.
Fast forward a year and AMS has now also gone into administration, on the same day that Mr Harper and a former HR director of Santander launched a training provider in Glasgow.
The demise of Talent Training
Mr Harper and Mr Hargre…
Read the full article at: https://feweek.co.uk/2018/12/14/exposed-trail-of-insolvency-and-debt-left-in-a-tangled-web-of-companies/
NEW YORK, Dec. 13, 2018 /PRNewswire/ –Pomerantz LLP is investigating claims on behalf of investors of Yangtze River Port & Logistics Limited (“Yangtze” or the “Company”) (NASDAQ: YRIV) Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Yangtze and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
[Click here to join a class action]
On December 6, 2018, Hindenburg Research (“Hindenburg”) published a report entitled “Yangtze River Port & Logistics: Total Zero. On-the-Ground Research Shows Assets Appear to be Largely Fabricated”. The Hindenburg report described Yangt…
Read the full article at: https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-yangtze-river-port–logistics-limited—yriv-300765439.html
Operations at Uchumi Supermarkets have ground to a halt as legal suits by creditors stall turnaround efforts.
The disputes have weakened the retailers ability to cash in on the busy festive season, winding up another dismal year for Kenyas pioneer chain store.
Following various litigation matters concerning the solvency of the company and the lease agreement on Uchumis headquarters offices, the company has been unable to successfully conduct the financial audit for the year ended June 30, 2018, said a statement from the board of directors.
Uchumi is currently fighting a legal battle instituted by creditors including Crown Industries, Euromat and United Bank for Africa that want the supermarket declared insolvent and its assets put u…
Read the full article at: https://www.standardmedia.co.ke/article/2001306138/court-cases-hinder-uchumi-turnaround