EXCLUSIVE
Pete Rose admits he is more than a MILLION DOLLARS in debt — but the baseball legend is adamant it has nothing to do with a high stakes gambling problem.
The 77-year-old also claims he has a heart condition and has undergone 3 procedures in the last 5 years.
It’s all part of the new docs Rose filed in his nas…
Read the full article at: http://www.tmz.com/2018/04/27/pete-rose-gambling-debt-divorce-heart/
PITTSBURGH (AP)
Paint maker PPG says it will lay off about 1,100 people and take a pretax restructuring charge of between $80 million and $85 million in the second quarter.
The Pittsburgh-based firm disclosed it plans in a filing made Friday with the Securities and Exchange Commission. The company employs about 47,200 worldwide, and the announced job cuts equate to about 2 percent of its workforce.
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The company approved a business restructuring plan after North Carolina-based Lowe’s announced in February that it would stop selling PPG’s Olympic brand paints and stains. PPG also cited ongoing price increases for raw materials.
PPG says about $75 million to $80 million of the…
Read the full article at: http://www.wtae.com/article/ppg-job-cuts/20088607
It’s the pet topic of journalists from China’s state-run media machine.
Almost every press conference or CEO roundtable at last month’s Boao Forum included a pre-prepared question about President Xi Jinping’s flagship foreign policy the multitrillion-yuan infrastructure project known as The Belt and Road Initiative (BRI).
The rhetoric around President Xi’s vision to construct a network of railways, ports roads and pipelines re-creating China’s “Silk Road” trading route through south-east Asia, Africa and Europe has ramped up a notch in recent weeks.
This is in response to a slew of international reports that highlight growing concerns about the ability of poorer countries along the route of the BRI as it is currently k…
Read the full article at: http://www.afr.com/news/world/asia/debt-bumps-on-chinas-belt-and-road-20180426-h0zbgf
SIOUX CITY — For a while, most Siouxlanders are able to juggle debt by using credit cards to cover food, gas and other monthly essentials.
But eventually, Lori Scott, a certified credit counselor at Center For Siouxland, said they get to a point where they’re unable to make payments on that debt.
“Student loans become a huge problem for people of any age. It’s not just brand new kids out of college. It’s people in their 40s and 50s still struggling. They feel like there’s just no end in sight,” said Scott, who said people of all income levels are affected by debt. “They get scared and don’t know how to handle it, so then they put …
Read the full article at: http://siouxcityjournal.com/lifestyles/local/buried-in-debt-center-for-siouxland-can-help/article_20d62c70-88d4-5960-a4de-b9714292c578.html
Greek Finance Minister Euclid Tsakalotos presented to his colleagues Friday a growth plan that the Greek government will deliver after the end of the financial assistance in August an attempt to give creditors and markets a guarantee that the country will keep reforming the economy even without external help.
He told CNBC about the specific details of his growth plan: “We (have) a strong social program because it is our program now and it has to be credible to Greece society so there’s an increase in the minimum wage and return of collective bargaining.”
“And at the same time we have indicat…
Read the full article at: https://www.cnbc.com/2018/04/27/greece-a-key-decision-on-its-debt-relief-might-not-happen-until-june.html
For the company, the mandated 270-day deadline under the corporate insolvency resolution process (CIRP) will end on April 29.Adhunik Metaliks, the flagship of the Adhunik Group, could be staring at liquidation soon as no resolution plan for the insolvent company has been approved by its lenders till date. For the company, the mandated 270-day deadline under the corporate insolvency resolution process (CIRP) will end on April 29.
The Kolkata bench of the National Company Law Tribunal (NCLT) is scheduled to hear the matter on May 1, when the fate of the steel maker will be decided. No resolution plan has been approved for the company till date. And the committee of creditors (CoC) has no time left to consider any plan furth…
Read the full article at: https://www.financialexpress.com/industry/adhunik-metaliks-may-head-for-liquidation-as-resolution-deadline-approaches/1148503/
By Dr Nizar Kochery/Doha
Question: We understand from external sources that one of our payment defaulters, a major international company based in Qatar for a project, is going to be in liquidation. How could we know about the liquidation? Is there any procedure for informing us? Please advise.
SD, Doha
Answer: According to Article 312 of the Commercial Companies Law, the due dates in respect of all company debts shall expire with effect from the dissolution of the company. The liquidator shall, by registered letter, notify all creditors of the commencement of the liquidation, and shall invite them to submit their claims against the company. If creditors or their places of residence are not known, the notice shall be published in two …
Read the full article at: http://www.gulf-times.com/story/590699/Procedure-for-liquidation-of-a-company
SPV Operating, the Sydney-based company which runs the iconic Opera Kitchen restaurant has gone into voluntary administration, owing $6 million to employees, the tax office and creditors.
The company, which operates the venue under on the lower concourse of the Sydney Opera House and is majority owned by David Wallace, is subject to a winding up petition by the Australian Taxation Office, scheduled to be heard by the Federal Court on May 4.
SPV has run the restaurant dubbed by Australian Gourmet Traveller as “a fantasy food court” since 2010 but earlier this week surrendered the license and lease to operate the venue to restauranteur, Michael Moore, the chef and owner of O Bar and Dining at Australia Square.
The company owes more than $2….
Read the full article at: http://www.afr.com/business/retail/opera-kitchen-appoints-administrator-20180427-h0zcfj
The National Company Law Tribunals Guwahati Bench has extended the last date for the corporate insolvency process for Assam Company (India) Ltd. to July 23, 2018.
This is the first major tea company to face insolvency proceedings. Significantly, industry players have expressed apprehension that other tea companies may also face similar proceedings.
ACIL has tea and oil and gas business with 16 gardens in Assam, with an output of 11.1 million kg recorded in 2016, which dropped to 9.7 million kg in 2017. A similar drop was also evident in ACILs revenue for the nine-month period ending December 2017 when revenues stood at 153 crore against 190 crore a year ago. Losses widened to 42.7 crore against 16.5 crore a year ago. The liquidation pr…
Read the full article at: http://www.thehindu.com/business/Economy/assam-co-insolvency-deadline-set-for-july-23/article23701863.ece
The Riga City Latgale District Court has ruled against taking in custody former insolvency administrator Maris Spruds, who together with three other people was detained on fraud suspicions on April 26.
Speaking to the press after the court sitting, Spruds said he had not been told to appear before the prosecuting authority so apparently no other restrictions will be imposed on him for now.
He said that his detention had not come to him as a surprise because he had long been aware of someone’s attempts to frame him. According to Spruds, this time he had been detained in relation to something that had happened back in 2013 and nobody of the persons involved had made any complaints about him until the day before yesterday.
…
Read the full article at: https://eng.lsm.lv/article/society/crime/court-doesnt-keep-former-insolvency-high-flier-in-custody.a276511/
Controversial Sydney businessman Salim Mehajer will return to court in June to continue a bid to have his bankruptcy annulled.
A NSW judge on Thursday refused to grant an application for an interim order to “stay” the bankruptcy after Mehajer’s lawyer argued a previous hearing should have been adjourned while his client was in custody.
The 31-year-old was declared bankrupt by a Federal Circuit Court judge in March before being granted bail in early April over claims he staged a car crash and defrauded an insurance company.
Mehajer testified that if the stay was granted he planned to apply for a new builder’s licence, continue the construction of five multi-million dollar projects and obtain offshore finance requiring his personal guaran…
Read the full article at: https://www.theherald.com.au/story/5367068/mehajer-bankruptcy-fight-continues-in-june/
Gov. Pete Ricketts smiles during an interview in his office (NTV News)
Two new studies show that Nebraska has the least state debt per capita and the lowest level of gambling addiction in the nation, and Governor Pete Ricketts praises Nebraska residents for working together to achieve the rankings.
Financial responsibility is a core value for Nebraskas families, communities, and the state, Ricketts said in a press release on Thursday. At the state level, this is reflected in our commitment to a balanced budget, which protects taxpayers against the kinds of unsustainable financial commitments other states make. These rankings are the result of generations of Nebraskans working together to build strong families and communiti…
Read the full article at: http://nebraska.tv/news/local/governor-ricketts-praises-studies-showing-low-debt-and-gambling-addiction-in-nebraska