When Andrew Fastow, the former chief financial officer of Enron, finishes a public-speaking gig these days, a dozen or so people from the audience are typically waiting to talk to him.
Some ask about his role in the scandal that brought down the energy company. Others want to know about his six years in prison. After a 2016 event in Amsterdam, as the crowd was thinning out, Fastow spotted two men standing in a corner.
Once everyone else had left, they walked up to him and handed him a laminated chart.The men were there on behalf of KeenCorp, a data-analytics firm. Companies hire KeenCorp to analyse their employees’ emails.
KeenCorp doesn’t read the emails, exactly its software focuses on word patterns and their context. The software then…
Read the full article at: https://www.afr.com/leadership/workplace/what-your-boss-could-learn-by-reading-the-whole-companys-emails-20180819-h146g5
By David Hargreaves
They are young, footloose, fancy-free…and broke.
The latest credit figures from illion (formerly Dun & Bradstreet) have shown a sharp rise in the number of people under 25 in this country filing for bankruptcy.
And it’s a rise that is occurring at a time when the overall bankruptcy figures are falling.
According to illion, in the 12 months to June 30 there were 207 people aged between 18 and 24 that filed for bankruptcy in New Zealand.
That was an increase of 66.9% on the figure for a year earlier.
As recently as 2014 there were less than 20 people in that age group who filed for bankruptcy.
This means that the figure has increased 10-fold in just four years.
illion CEO Simon Bligh said whil…
Read the full article at: https://www.interest.co.nz/business/95712/latest-figures-show-sharp-rise-number-under-25s-country-declaring-bankruptcy
Honble NCLT, Ahmedabad Bench, vide order no. 137/7/NCLT/AHM/2018 dated 24.08.2018 has initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor Diamond Power Infrastructure Limited.
Vide the same order, Ramchandra Dallaram Choudhary, has been appointed as Interim Resolution Professional for the said Corporate Debtor.
Pdf Link:
Diamond Power Infrastructure Limited – Intimation of Corporate Insolvency Resolution Process
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/diamond-power-infrastructure-limited-intimation-of-corporate-insolvency-resolution-process/article24881472.ece
With more than $30 million in debt and owning little more than a house, two old cars and a stray cat, former Olathe home builder and banker Donald H. Bell Sr. has declared bankruptcy.
Bell and his wife, Faith, had built Don Bell Homes in Olathe into one of Johnson Countys most prolific builders in the 1990s and 2000s. From that base and driven by instructions from God…
Read the full article at: https://www.kansascity.com/news/business/article217822705.html
TBL (UK) Ltd (TBL) was incorporated in March 2016 and traded as UK Business Locator, a derivative of its business directory: www.ukbusinesslocator.com.
However, TBL shared a common director and continued similar business to that previously carried out by a linked company, Movette Ltd (Movette), which was wound up on 28 July 2017 on the grounds that it operated against the public interest.
The Insolvency Service investigated the companys affairs following complaints from customers. But the investigation was severely limited due to a lack of co-operation from TBLs director who failed to produce business documents.
On 20 August 2018, the High Court sitting in Manchester heard the petition presented on behalf of the Secretary of S…
Read the full article at: https://www.gov.uk/government/news/disconnected-online-advertising-company-shut-down-in-public-interest
The rate of personal insolvencies in Herefordshire has increased by more than a third over the last two years, official data has revealed.
In 2015, 16.8 adults per 10,000 were declared insolvent in Herefordshire, according to Insolvency Service figures.
However by 2017 that figure had risen to 22.6, an increase of 34.5%.
Insolvency is when someone cannot pay their debts, and has to arrange a plan with an official body to pay off creditors. This can include being declared bankrupt.
The England and Wales average is 21.4, with Stoke, in Staffordshire, having the highest insolvency rate of 45 people per 10,000 in serious debt.
The figures are comprised of people who have been declared bankrupt, those who have been given debt relief orders (DROs…
Read the full article at: http://www.rossgazette.com/article.cfm?id=114540&headline=Personal insolvency rate in Herefordshire is on the rise§ionIs=news&searchyear=2018
After an ordinance brought home buyers under the hood of financial creditors, a financial creditor has moved the National Company Law Tribunal (NCLT) to have the corporate insolvency resolution proceeding initiated against a builder who failed to handover possession of a residential flat in an upcoming apartment complex but also failed to refund the money back to the financial creditor.
The NCLT bench comprising Member (Judicial), S K Mohapatra and Member (Technical), Ina Malhotra issued notice on August 31 ordering the corporate debtor to showcause as to why the Corporate Insolvency Resolution Process should not be initiated against him.
The counsel as well as the financial creditor Parveen Kumar Aggarwal, informed the Tribunal that…
Read the full article at: http://www.indialegallive.com/constitutional-law-news/courts-news/nclt-asks-builder-corporate-insolvency-resolution-process-not-initiated-refuses-refund-money-home-buyer-54042
Sigma Healthcare shares have slumped after the pharmaceuticals supplier revealed a slump of more than 50 per cent in first-half profit to $13.4 million.
Sigma, which owns pharmacy brands Amcal, Guardian, Discount Drug Store, and Chemist King, said the 51.8 per cent fall was partly due to $6.1 million of restructuring costs following the loss of its contract to supply Chemist Warehouse in July.
Sigma has hired financial services firm Accenture to help oversee its continued restructure following the loss of the Chemist Warehouse Contract.
Photo: Bloomberg
A 2 per cent fall in revenue to $1.96 billion was attributed to falling sales in Hepatitis C medication, and the continued impact of the rescheduling of codeine as a prescription-only drug.
Pr…
Read the full article at: https://www.smh.com.au/business/companies/restructure-costs-halve-sigma-profit-20180906-p50265.html
Embattled former Maori Party co-leader Marama Fox is eyeing a return to Parliament in 2023, but says she’s focused on her current cashflow problems at present.
Fox, whose consultancy company was liquidated last week, estimates she owes around $156,000 to creditors but says she’s determined everyone will be paid back.
Her business problems prompted her to offer her resignation as co-leader of the Mori Party last week, an offer that was accepted by the party this week as more stories emerged of businesses being left out of pocket by Marama Fox Consultancy Group Tapui.
Fox set up the business, aimed at building affordable homes for homeless and low-income families, after she and fellow co-leader Te Ururoa Flavell lost their seats in …
Read the full article at: https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12120580
If you feel like youre drowning in debt, youre not alone. According to Experians State of Credit report, the average household has $24,706 in non-mortgage debt. That means things credit cards, medical bills or car loans. With such a heavy debt load and high interest rates, digging yourself out from that debt can be challenging.
Thats where debt consolidation can be a big help. And, if you own a home, tapping into your home equity instead of taking out a debt consolidation loan can be a smart choice. Learn more about how debt consolidation works and how to decide if its right for you.
What is debt consolidation?
Traditionally with debt consolidation loans, you work with a bank or other financial institution …
Read the full article at: https://www.bankrate.com/mortgages/home-equity/use-home-equity-to-consolidate-debt/