Insolvency Guardian Media Centre
Katie Price has her hands full with bagloads of bargains from Poundland.
The mum of five was once worth 45million thanks to a hugely successful modelling career, TV shows, books and endless product endorsements.
But now it looks like she is checking the Pricey of things a little more carefully after a change in her fortunes.
Her stash dwindled after spending big on cosmetic surgery, holidays, cars, horses, houses and toyboys.
Katie, 40, narrowly avoided being declared bankrupt earlier this year and was given three months to pay off her creditors.
(Image: BACKGRID)
Proposals for an individual voluntary agreement (IVA) were filed at the High Court to …
Read the full article at: https://www.mirror.co.uk/3am/celebrity-news/katie-price-bags-bargain-poundland-13606095
By Tatsuya Sasaki / Yomiuri Shimbun Senior Writer The corporate history of JXTG Holdings, Inc. a major group of companies led by the largest petroleum company in Japan can be described as a history of restructuring. When and why is restructuring necessary? For this installment of Leaders, a column featuring corporate management and senior executives, The Yomiuri Shimbun asked Representative Director and Chairman of the Board Yukio Uchida about what is key for successful restructuring.
The utmost goal for restructuring is to build a competitive company in the global market.
With the liberalization of petroleum product imports having been introduced in a globalizing economy, our survival depends on competition with foreign companies. Due…
Read the full article at: http://the-japan-news.com/news/article/0004937698
Business News of Saturday, 17 November 2018
Source: 3news.com
The Central Bank, Bank of Ghana
Officials of the Central Bank involved in alleged misconduct leading to the collapse of some indigenous banks are being investigated, 3news.com has gathered.
Most of them will be sacked if the allegations against them are found to be true.
On Thursday, the Minister of Finance confirmed the move by the Bank of Ghana when he read the 2019 budget statement.
Ken Ofori-Atta disclosed that an Office of Ethics and Internal Investigations has been set up by the Central Bank to investigate all allegations of misconduct by staff, including any role [played] in the collapse of defunct banks.
He gave the assurance that the government will not shield anyo…
Read the full article at: https://www.ghanaweb.com/GhanaHomePage/business/BoG-staff-probed-over-collapse-of-banks-701619
An Irish-made turbine deployed in Canada in July to help test the viability of tidal technology was damaged beyond repair after only two months.
Dublin-based OpenHydro was one of the first companies to attempt to build technology that could harness tidal energy on a commercial scale.
While the firm did build several prototype devices it racked up large losses doing so. Its parent company, Naval Energies of France, decided in July that it would not continue to financially support OpenHydro.
The Irish company, which employs about 100 people, was declared insolvent shortly afterwards and a l…
Read the full article at: https://www.thetimes.co.uk/article/time-and-tide-proved-too-much-for-tech-firm-openhydro-vgf5bqz6z
Auditor General Edward Ouko has said the East Africa Portland Cement Company (EAPCC) cannot pay its debts.
The companys books have deteriorated rapidly over the past one year, pushing it Sh2 billion further into insolvency.
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Billions gobbled up by Nairobi County, audit reveals
The groups current liabilities exceeded its current assets by Sh6 billion from Sh4.2 billion in 2017, said Ouko in an independent auditors report that accompanied the financial results.
EAPCC had to rely on stripping some of its assets to boost its figures after its losses widened.
It made Sh3.5 billion operating loss from Sh1.3 billion last year, with the Auditor General questioning whether it can still operate as a viable business.
The producer of…
Read the full article at: https://www.standardmedia.co.ke/article/2001302936/portland-cement-company-insolvent-says-ouko
“PECO has remained untouchable.”
“PECO has remained untouchable.”Rich families have always lorded over the countrys regional economy, as those with vast landholdings and businesses in the provinces dominate the local economy, usually with their huge agri-industrial businesses migrating to public services.
Such is the case for the Cacho family of Iloilo, the majority owner of the controversial utility firm Panay Electric Co. (PECO), which for 95 years monopolized electricity distribution in Iloilo City by virtue of a franchise from Congress.
Because their business is a monopoly and a rich cash cow, the Cachos controlled regulatory oversight of their business by securing political connections with whoever was in City Hall or in the National Governments regula…
Read the full article at: http://manilastandard.net/opinion/columns/naked-thought-by-charlie-v-manalo/280702/curse-of-an-oligarch.html
SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) today announced dividends on eleven
series of preferred stock.
A quarterly cash dividend of $18.75 per share was declared on its 7.50%
non-cumulative perpetual convertible class A preferred stock, Series L,
liquidation preference $1,000 per share, which is traded on the New York
Stock Exchange under the symbol WFCPrL. The Series L dividend is
payable on Dec. 17, 2018, to holders of record as of the close of
business on Nov. 30, 2018.
A quarterly cash dividend of $325.00 per share was declared on its 5.20%
non-cumulative perpetual class A preferred stock, Series N, liquidation
p…
Read the full article at: https://www.businesswire.com/news/home/20181116005495/en/Wells-Fargo-Company-Declares-Cash-Dividends-Preferred
Waimea Contract Carriers Ltd has all but traded its way out of voluntary administration and paid back its creditors an outcome described as rare by one administrator.
The transport company, based about 16km south of Nelson, was placed in voluntary administration (VA) on March 30, 2015 with debts of more than $16 million.
Administrator Richard Longman, of PwC, said once the final payment was made due on Tuesday the companywould be left with only the debt a typical business of its size would have “as part of normal banking arrangements”. Restrictions applied under VA would be lifted.
Voluntary administration was “not a frequently used provision” and the outcome achieved by Waimea Contract Carriers was rare.
READ MORE:
* Logging transport…
Read the full article at: https://www.stuff.co.nz/national/108553700/Waimea-Contract-Carriers-drives-its-way-out-of-voluntary-administration
A Buxton shoe firm which employed 50 staff has gone into voluntary liquidation.
The decision was taken after Bells Shoes lost an account with Clarks which accounted for nearly half of the firms 18m turnover.
Redfoot Shoes, which is based in Bacup in East Lancashire, has announced it is investing over 1m to develop the online operation of Bells Shoes after buying its website, stock and intellectual property.
Bells Shoes has now gone into solvent voluntary liquidation as part of a planned wind-down which began earlier this year.
Steven Wiseglass, an insolvency practitioner and director at Greater Manchester firm Inquesta, has been appointed liquidator.
Bells Shoes comprised the online business and a shop in Buxton.
The shop has been rebran…
Read the full article at: http://www.thebusinessdesk.com/northwest/news/2032457-50-jobs-lost-as-shoe-company-goes-into-voluntary-liquidation
Online fashion retailer Jabong is expected to lay off a significant portion of its workforce in Gurgaon as part of a restructuring at Flipkart Group, according to three sources familiar with the development.
In all, Jabong, which was acquired by Flipkarts fashion unit Myntra in 2016, could lay off 40-50% of its 400-strong workforce. Walmart, which owns a majority stake in Flipkart, is looking to drive more synergies between Myntra and Jabong with that of Flipkarts fashion business. The two entities have been brought under the control of Flipkart CEO Kalyan Krishnamurthy following co-founder Binny Bansals exit as group CEO earlier this week.
Flipkart Fashion and Myntra will continue to be run independently, although it is not clear how …
Read the full article at: https://economictimes.indiatimes.com/small-biz/startups/jabong-jobs-at-risk-in-flipkart-restructuring/articleshow/66645554.cms
A few months ago Reserve Bank Governor Phillip Lowe provided four common sense points we should all keep in mind regarding borrowing to finance a home. (The Governors speech can be found here). I thought they made sense and so summarised them in a tweet to which someone replied that every checkout operator knows them. Which got me thinking that maybe many do know them, but a lot dont, otherwise Australians would never have trouble with their finances.
So I thought it would be useful to expand Governor Lowes list to cover broader financing and investment decisions we make. I have deliberately kept it simple and in many cases this draws on personal experience. I wont tell you to have a budget though because thats like telling you to su…
Read the full article at: https://www.sharecafe.com.au/2018/11/15/13-common-sense-tips-to-help-manage-your-finances/
CORPORATE RECOVERY (INSOLVENCY) LAWYERS NQ+
LEEDS CITY CENTRE
Competitive Salary Package
HJ303
One of the Norths top Corporate Recovery teams is looking to expand.
Working with a range of sectors including sport, retail and professional services this team advises on both contentious and non-contentious personal and corporate insolvency matters.
There is plenty of variety: from acting for banks, private equity providers, LPA Receivers and insolvency practitioners to defending director disqualification proceedings, making and progressing court applications and drafting CVAs and IVAs.
The firm is known for being dynamic, innovative and people-focused and there is a real emphasis on maintaining a good office culture. The firm has also…
Read the full article at: http://www.thebusinessdesk.com/jobs/corporate-recovery-insolvency-lawyers-nq/