Insolvency Guardian Media Centre
Sometimes I feel as though I want to say a little prayer for the Archbishop of Canterbury, Justin Welby. His understandable anger and frustrations at the burning injustices of our times seem to have turned the mind of this priest a little too turbulent. Having helped put it out of business, just as he threatened, he now wants to take Wonga over. That is a very silly idea.
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Read the full article at: https://www.independent.co.uk/voices/church-of-england-wonga-payday-lender-millions-debt-responsibility-a8539996.html
BHUBANESWAR: The regulatory authority is making all arrangements for implementation of individual insolvency norms in the country as soon as possible, said Insolvency and Bankruptcy Board of India (IBBI) chairman, MS Sahoo.
Speaking at a national conference organised by Indian Chamber of Commerce (ICC) on Insolvency and Bankruptcy Reforms: Code Demystified here on Saturday, Sahoo said work has already begun on group insolvency norms. “Around 300 companies are under voluntary liquidation process and more than 1,000 corporate debtors are under corporate insolvency process.
The debtors who were earlier making late payment of their loan dues are willing to pay after the Insolvency and…
Read the full article at: http://www.newindianexpress.com/states/odisha/2018/sep/16/individual-insolvency-norms-soon-1872613.html
A decade after Lehman Brothers collapsed, the courts are still working on remnants of the largest bankruptcy in U.S. history as the municipal bond industry continues to feel the effects.
For the muni market, Lehman was a domino, said Nicholas Venditti, managing director at Thornburg Investment Management. In and of itself, Lehman wasnt a huge deal. But everything it knocked down with it, thats another story.
A woman inside Lehman Brothers headquarters in New York on Sept. 15, 2008, the date the firm filed the largest bankruptcy in U.S. history.
Bloomberg News
On Sept. 15, 2008, after 157 years of continuous operation beginning as a cotton trading firm in Montgomery, Alabama, Lehman Brot…
Read the full article at: https://www.bondbuyer.com/news/municipal-bond-world-still-feels-impact-of-lehman-collapse
The port is being developed as a multipurpose, multi-cargo and all-weather port under a 50-year concession agreement.
Mumbai: Adani Ports, Indias largest private sector port operator, and Jawaharlal Nehru Port Trust (JNPT) in Navi Mumbai are likely to bid for Dighi Port, which was declared bankrupt by the National Company Law Tribunal (NCLT) in April, according to two people aware of the matter.
A subsidiary of South Korean steel giant Posco is also rumoured to be interested in the port, although Mint could not independently verify this.
Queries sent to Posco Maharashtra Steel and Adani Ports were unanswered at the time of going to print while a spokesperson for JNPT declined to comment.
Dighi Port is a minor greenfield port located in the…
Read the full article at: https://www.livemint.com/Companies/AnkMxSeI6Cpr3qv4mFKAZO/Adani-JNPT-likely-to-bid-for-acquiring-bankrupt-Dighi-Port.html
This week, the cash-strapped Balmain Leagues Club has received a cash injection to help keep it afloat and stop them from going into voluntary administration.
The developer, Heworth, has been providing the club with financial support and say theyre committed to bringing the Balmain Tigers back to Rozelle.
Heworth plans to revamp the decaying Balmain Leagues site into a 12-storey apartment complex, with a new Tigers club area as the centrepiece.
Inner West Mayor, Darcy Byrne, tells Chris Smith this is a very long saga, with the process being dragged out due to a whole series of unfortunate coincidences.
The previous owner of the site who I, to put it politely, had many and very strong disputes with, had the club over a b…
Read the full article at: https://www.2gb.com/what-exactly-will-happen-to-the-long-abandoned-leagues-club/
A tourist company based in Mullingar, Co Westmeath has ceased trading, leaving several holidaymakers and businesses out of pocket.
Exploring Vacations acts as an intermediary allowing tourists to book accommodation or car hire. It operated by taking payment upfront from people and then paying the provider.
However, it has announced that it is going into liquidation.
Several tourists had contacted RTÉ’s Liveline programme saying they had turned up at their accommodation to find the booking had been cancelled.
Some B&Bs have also said they have been left owed money.
A bus company based in Ennis, C & C Executive Travel, said it is owed around 25,000 and that it also has bookings from the company, running up until November.
The Twelv…
Read the full article at: https://www.rte.ie/news/2018/0914/993839-exploring-vacations-liquidation/
How To Choose A Good Debt Consolidation Company
Debt consolidation can be the best option for a business owner or individual to pay off debt. All you have to do is choose a suitable method that can help you pay off the loan.
Choosing a method is quite easy, but the difficulty comes in choosing a consolidation company. Consolidation companies are different, depending on the type of financial lenders that you are dealing with.
There are instances where consolidation companies take advantage of a business or an individual. Most of them see individuals and businesses in a tight situation and they use that to the companys advantage. In the long run, they end up defrauding a person and you will only add to your debt.
A…
Read the full article at: http://www.theyucatantimes.com/2018/09/how-to-choose-a-good-debt-consolidation-company/
Guernsey airline Waves has announced today that its parent company, Waves Technologies Ltd is going into voluntary liquidation.
WO1 Ltd which includes the Waves aviation company, remains trading and hopes to confirm a trade sale over the next few weeks.
Waves has not taken any bookings since earlier this year.
It is with a heavy heart that we put Waves Technologies into voluntary
liquidation.We hope that if nothing else, the traveling public have seen that
there is an alternative.Competition is healthy and that choice and customer
service is something that should not be taken for granted but should be an
everyday standard for the local travelling community.
…
Read the full article at: http://www.itv.com/news/channel/2018-09-14/waves-airline-announces-parent-company-going-into-voluntary-liquidation/
Dive Brief:
- Sanofi will give its business in China a more prominent billing in how it presents financial results, highlighting the growing importance of the country’s pharmaceutical market to the French drugmaker.
- In an organizational restructuring announced Thursday, two of Sanofi’s five “global business units” will be recast to more clearly split operations in mature economies like the U.S., Europe and Canada from emerging markets like China.
- The changes will rebrand Sanofi’s current general medicine and emerging markets unit as “China and Emerging Markets,” placing older, established products such as the company’s anticoagulant Lovenox alongside diabetes and cardiovascular medicines in a newly …
Read the full article at: https://www.biopharmadive.com/news/sanofi-looks-to-china-in-business-restructure/532335/
Dear Sir / Madam,
We would like to inform you that meeting of the 04th Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Tuesday, 18th September 2018 at 02:00 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, 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/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article24946656.ece
Too many people still fall through the cracks when it comes to municipal debt counseling, according to National Ombudsman Reinier van Zutphen in a new report. The municipalities are improving, but the ombudsman still has concerns, ANP reports.
“It must be faster and better”, Van Zutphen said in his report. “Several studies show that debts are harmful, especially for families with children. Municipalities should work on that.”
An estimated 1.4 million Dutch households have problematic debts or are at risk of falling into debt. For this follow-up investigation, the ombudsman received data from 251, or 84 percent, of Dutch municipalities.
According to the Ombudsman, many people do not follow through with the…
Read the full article at: https://nltimes.nl/2018/09/14/municipal-debt-assistance-still-par-ombudsman-says
Xiaomi founder and chief executive Lei Jun on Thursday told staff that the firm would be undergoing an internal restructuring to strengthen the different functions and help develop younger talent.
The Xiaomi restructuring includes the creation of two new departments an organisation department that oversees hiring, promotion and training, as well as a strategic advisory department that will focus on the companys development strategy and monitor the progress of each business unit.
This restructuring will strengthen the capabilities of the headquarters as well as ensure that company values are passed on, Lei said in an internal letter to Xiaomi staff seen by the Post. It also increases the efficiency of each department and builds stron…
Read the full article at: https://www.scmp.com/tech/big-tech/article/2164165/xiaomi-chief-executive-lei-jun-restructures-company-ensure