Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Setting financial goals for the short and long-term makes good fiscal sense. Photograph: Natee127/Getty Images/iStockphoto People generally teach themselves how
The viral publisher Unilad, known for its commitment to student-friendly online banter, is facing insolvency proceedings following a demand from HM Revenue and Customs (HMRC) amid concerns over the future of the sites Facebook-centric business model.
HMRC issued a winding-up petition against Unilads parent company in July, which is due to be heard at the high court next week. Such notices are usually issued when a business has failed to pay its taxes and the company could be liquidated unless it can come to an agreement.
The situation with HMRC is being resolved swiftly, said a spokesperson for Unilad, who declined to give any further information on the social media publishers financial position or why it was facing the demand from t…
A troubled Sheffield city centre pub which ran into financial difficulties has announced its immediate closure.
The Sentinel Brewhouse in Shoreham Street has shut its doors immediately and laid off seven staff although the attached brewery will continue to trade while a buyer is sought.
The Sentinel Brewhouse.
Last year, it was revealed that the pub had been declared insolvent with debts of more than £1 million but reaching agreement with creditors the pub continued to trade.
However, this afternoon, pub bosses have announced the end of the road, sharing news of the closure on Facebook.
A statement said: Sentinel has been in operation since April 2016 and in that time has gained a reputation f…
This may sound like partisan hackery, and it very well could be, but this aggressive question from a Democratic senator to the Republican nominee for the Supreme Court is based on a very strange and very true story, and may hint at inside knowledge. Per The Washington Post:
Supreme Court nominee Brett M. Kavanaugh incurred tens of thousands of dollars of credit card debt buying baseball tickets over the past decade and at times reported liabilities that could have exceeded the value of his cash accounts and investment assets, according to a review of Kavanaughs financial disclosures and information provided by the White House.
White House spokesman Raj Shah told The Washington Post that Kavanaugh built up the debt by buyi…
LOS ANGELES, Sept. 12, 2018 (GLOBE NEWSWIRE) — B. Riley FBR, Inc. (B. Riley FBR), a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc., announced today that Alex Rohan has joined the firm as a Senior Managing Director in its Corporate Restructuring division. Rohan brings over 25 years of investment banking, legal and financial advisory experience, most of which has involved all aspects of complex corporate restructurings. He is based in the firms New York office.
Were thrilled to welcome Alex to our Corporate Restructuring group, said Perry Mandarino, Co-Head of Investment Banking and Head of Corporate Restructuring. His extensive restructuring experience combined with his multi-disciplined b…
Vocally she could range from the plumminess of a duchess to the raucous expletives of the charwomen she used to meet as a footloose single girl sharing a Mayfair flat with a West End prostitute. But in person, as the journalist Gyles Brandreth recorded in his diary, that husky, purring voice is for real.
On the London stage she had a notable misfire in 1963 with So Much to Remember, a feeble revue that staggered from the Establishment to the Vaudeville in the West End before its fatal collapse. No actress languishes like Fenella Fielding, nodded Eric Shorter, the Telegraphs man in the stalls. Up go the eyelashes with a Kensington flutter; and down another register comes the Bagshot voice.
Films seemed to offer her a more reliable channel f…
CHICAGO, Sept. 12, 2018 (GLOBE NEWSWIRE) — Medical debt is the number one cause of bankruptcy in the U.S. To help consumers faced with mounting medical bills avoid bankruptcy, TransUnion Healthcare announced today that it is supporting the efforts of RIP Medical Debt, a 501(c)(3) nonprofit located in metropolitan New York, but working nationally. RIP, founded in 2014, has a single mission to help relieve deserving Americans and veterans of medical expenses they are unable to pay.
Our nonprofit uses donor funds to locate and then purchase unpaid and unpayable medical debt, said Craig Antico, CEO and co-founder of RIP Medical Debt. With TransUnions support, we can further address the difficult problem of identifying those individuals …
New Myer chief executive John King hopes to reverse a long-term slide in earnings as early as this year by cutting back on discounting, closing clearance floors, stocking more exclusive brands and shrinking stores while improving customer service.
Unveiling his long awaited turnaround plan, Mr King said his focus was on improving Myer’s bottom line and restoring value to long-suffering shareholders by reducing costs and boosting margins rather than chasing unprofitable sales.
He warned that the topline could be “bumpy” over the next few years as the retailer reduced discounting by about 8 per cent a year, handed back unproductive floor space to landlords, introduced new brands and increased its lower-priced but higher marg…
Egypt’s Ministry of Public Sector has announced that the National Cement Co (NCC) has fallen into liquidation. NCC’s kiln lines had been shutdown since 31 May 2018.
Minister Hisham Tawfik announced that the company had lost EGP900bn (US$50bn) in the past year. The factory is also heavily in debt, owing EGP4.4bn to the Egyptian Natural Gas Holding Co and EGP700m to the Egyptian Electricity Co.
In the most recent financial year, the company’s losses were the highest among all public sector companies. These losses…
This autumn will mark the tenth anniversary of the most spectacular bankruptcy of all times. On 15 September 2008, banking heavyweight Lehman Brothers knocked sideways by the bursting of the sub-prime mortgage bubble a year earlier, declared itself insolvent with 613 billion US dollars worth of debt. This whipped up a storm that raged through Wall Street, spreading distrust and toppling other large institutions. Stock markets crashed, the credit market dried up and the real economy suffocated. The gangrene then spread to the eurozone causing several member states to totter under the weight of public debt and eventually to the rest of the world. Ben Bernanke, the Fed Chairman at the time, has even said, September and October of 2008 was…
Have you ever sought treatment for a gambling addiction? Whitehouse asks pointedly as part of a series of questions submitted this week about Kavanaughs unexplained personal debts.
Setting financial goals for the short and long-term makes good fiscal sense.
Photograph: Natee127/Getty Images/iStockphoto
People generally teach themselves how to manage their finances as they become adults, and it seems to work well enough for a while. As you get older, finances become a lot more complex yet there is hesitation to consult anyone on the matter. Even though youd be on the phone to a specialist immediately for something less important like the internet dropping out or poor phone reception.
Financial planners are able to provide insight and information on a broad range of financial topics that are far more interesting and important than you may have eer imagined. Such as the financial decisio…
New Delhi: The Supreme Court halted insolvency proceedings against defaulters in the power, sugar, shipping and textile sectors, providing relief to borrowers hours before the deadline for referring them to insolvency court expired by staying a Reserve Bank of India (RBI) circular issued in February.
Bankers said the decision will delay the process at least until November 14, when the next hearing is scheduled. They welcomed the intervention of the top judicial authority as it would help give final shape to questions of law and bring together multiple suits in courts across the country, which were complicating the process.
The order is expected to lead to borrowers that have so far not sought judicial relief against the controversial R…
