TORONTO A well-connected Toronto mobster who had secretly been working with police to penetrate the citys powerful Mafia clans knew his time as a double agent was running out when a man he considers one of the most powerful mob bosses threatened him.
Carmine Guido had been a working as a police agent for nearly two years; 227 times he had been wired up by a special anti-Mafia police taskforce, recording audio and video of his meetings with alleged mobsters and drug traffickers as the centrepiece witness of a large probe into the citys Mafia clans.
Rumours had spread in the underworld.
Then Cosimo Commisso ca…
Read the full article at: http://edmontonjournal.com/news/canada/threat-from-alleged-mafia-boss-ended-mobsters-work-as-police-informant-cocaine-trial-hears/wcm/6da7b7aa-7c31-4c44-b331-02c870d3cddf
Elyssa Kirkham
Updated on March 27, 2018
March 27, 2018March 27, 2018Refinancing & ConsolidationFeatured, Loans, Personal Finance1155SEO
Using a personal loan to consolidate debt can simplify your financial life. But this move is most worthwhile if you can get debt consolidation loan rates that are lower than what youre currently paying.
It can take some time to hunt down the best lenders that offer low debt consolidation loan rates. To help you out, we reviewed the rates and terms offered by several such lenders.
This overview can help you quickly find debt consolidation loan companies with the best rates. From there, you can find the lender that offers the best rates and terms to help you get ahead of…
Read the full article at: https://studentloanhero.com/featured/debt-consolidation-loan-rates-top-companies/
Bonnier Publishing has announced it is restructuring its business in Australia, with the majority of staff at Bonnier Publishing Australia to enter into redundancy consultation.
In a statement released on 27 March, Bonnier Publishing, the publishing arm of Swedish media company Bonnier Group, said the restructure is in response to changing market conditions.
Titles on the local Echo Publishing lists will be consolidated under the UK imprint Bonnier Zaffre, which is currently distributed in Australia and New Zealand by Allen & Unwin. Echo Publishing commissioning editor Angela Meyer will continue in her role.
Bonnier Publishing said the other 35 staff at Bonnier Publishing Australia will enter into redunda…
Read the full article at: https://www.booksandpublishing.com.au/articles/2018/03/28/104710/bonnier-publishing-to-restructure-australian-publishing-arm-35-staff-redundancies-announced/
Heralded Australias largest department store, Myer, has ruled out a voluntary administration, following struggling sales, and its recent $476 million half-year loss the biggest in company history.
Myer is actively hunting for a new CEO, following the departure of Richard Umbers in February. Umbers joined the retailer in 2015, and was involved in the $600 million New Myer strategy, which pledged to turnaround results in five years.
As previously reported, commentators speculate Umbers was forced out by Myer Executive Chairman, Gary Hounsell.
Speaking to The Australian Financial Review, Myer affirms a voluntary administration is not under consideration. Several insolvency experts claim a VA would cause further issues for the struggling…
Read the full article at: https://www.channelnews.com.au/myer-rules-out-voluntary-administration/
MUMBAI — India has launched its recapitalization scheme totaling 2.1 trillion rupees ($32.3 billion) to help state-run banks write off nonperforming loans and put the economy back into high gear.
State Bank of India, the country’s largest commercial bank, said Friday that shareholders approved a private allotment of preferential shares for the government. The bank will receive an injection of 88 billion rupees in return, in a transaction slated to close this month.
Others such as Punjab National Bank, Canara Bank and the Bank of Baroda have approved similar state-backed infusions, with Bank of India raising 22.5 billion rupees through the recapitalization effort. India’s government approved the two-year bank bailout plan in Oc…
Read the full article at: https://asia.nikkei.com/Politics-Economy/Policy-Politics/India-starts-32bn-bailout-to-help-state-banks-clear-bad-debt
EMERYVILLE, Calif., March 27, 2018 /PRNewswire/ — Student loan borrowers often feel like victims of their debt, perhaps especially if they have a high balance. Or they may feel like victims of predatory lending or of a society that pushed them to take on any amount of debt for a degree that may or may not have gotten them a job. The hard truth about that debt is that each borrower is responsible for paying it down, no matter how unfair it may feel. But they can get help. American Financial Benefits Center (AFBC) is a private document preparation company that helped its clients seek successful repayment by applying for federal income-driven repayment plans.
…
Read the full article at: https://www.prnewswire.com/news-releases/american-financial-benefits-center-encourages-borrowers-to-take-control-of-their-debt-overcome-victim-mentality-300620337.html
A former Managing Director of the GCB Bank, Mr Simon Dornoo, is to lead a team of experts from accounting and auditing firm, KPMG to revive and stabilise uniBank Ghana Limited.
The revival is to help bring the bank, which was declared insolvent by the Bank of Ghana on March 20, back to regulatory compliance.
Related: Bank of Ghana takes over uniBank
KPM, the official administrator of the troubled uniBank, said in a press statement that Mr Dornoo had been engaged as an executive representative to lead the management team to stabilise and bring the bank back to regulatory compliance.
He will act in that capacity over the next six months, within which he and the team will be expected to audit the operations of the bank…
Read the full article at: https://www.businessghana.com/site/news/business/162012/Simon-Dornoo-leads-team-to-revive-uniBank
CRANBERRY TOWNSHIP, Pa.–(BUSINESS WIRE)–Westinghouse Electric Company today obtained approval from the U.S.
Bankruptcy Court for the Southern District of New York (the Court) of
the companys plan of reorganization (the Plan).
The Courts approval of the Plan is a significant milestone in the
companys strategic restructuring, which involves its previously
announced sale to Brookfield Business Partners L.P. (NYSE:BBU)
(TSX:BBU.UN). The sale is expected to close in the third quarter of
2018, subject to customary closing conditions including, among others,
regulatory approvals.
The Plan was overwhelmingly supported by Westinghouses credit…
Read the full article at: https://www.businesswire.com/news/home/20180327006166/en/Westinghouse-Plan-Reorganization-Confirmed
MUMBAI: The National Company Law Tribunal has ordered liquidation of two Rotomac group companies — Global and Exports — whose promoter Vikram Kothari is accused of being involved in a banking fraud. The order was pronounced at the NCLTs Allahabad chapter.
The initial period of 180 days expired on March 19 this year, but the committee of creditors has rejected the demand for an extension of 90 days to complete the insolvency resolution process.
The court has asked the Resolution Professional (RP) to submit a liquidation report within a month, and has appointed the RP — Anil Goel — as the liquidator, who will help to auction the companys assets.
The liquidator is directed to submit the progress report of liquidation process within 3…
Read the full article at: https://economictimes.indiatimes.com/news/politics-and-nation/nclt-orders-liquidation-for-two-rotomac-companies/articleshow/63492074.cms
By M Umarji
A new section 29A has been inserted in the Insolvency and Bankruptcy Code, 2016 (IBC 2016 ) which specifies various categories of persons who are not eligible to submit the resolution plan for insolvent companies, which includes the debtor company itself and its guarantors. It is reported that government is reviewing the issue of persons being indirectly barred from bidding for insolvent assets by reason of being connected or related to those ineligible to bid under the amended IBC 2016.
While conducting such review, it is necessary to note some basic objects for which IBC 2016 has been enacted, as under:
- Insolvency resolution petitions can be initiated immediately on default of Rs 1 lakh or above. Section 10 of the Code p…
Read the full article at: https://economictimes.indiatimes.com/news/economy/policy/view-resolution-plans-under-ibc-should-adhere-to-principles-of-natural-justice/articleshow/63494248.cms
Dominic Chappell, the former bankrupt who bought the failed retailer BHS for £1, is facing a ban on serving as a company director but previous owner Philip Green will avoid a similar fate following an investigation into the chains collapse in 2016.
The Insolvency Service, a UK government agency, said on Tuesday that it intends to ban Dominic Chappell and three other former BHS directors from serving as company directors for up to 15 years.
However, it said it does not intend to bring disqualification proceedings against Sir Philip, the billionaire former owner of BHS who sold the company to Mr Chappell for £1 in 2015.
Mr Chappell told the Press Association he has not been notified of the move by the Insolvency Service, and s…
Read the full article at: https://www.ft.com/content/11c9492e-31bf-11e8-ac48-10c6fdc22f03
NEW YORK (Reuters) – Puerto Ricos Government Development Bank, the islands insolvent former fiscal agent now in wind-down mode, has tweaked its $5 billion debt restructuring deal to help keep small towns afloat six months after Hurricane Maria.
FILE PHOTO – The Government Development Bank (GDB) is seen in San Juan, November 30, 2015. Reuters/Alvin Baez/File Photo Governor Ricardo Rossellos office said in a statement on Tuesday that the bank, known as the GDB, will allow towns to offset any loans owed to it with assets on deposit at the bank.
The towns also will be allowed immediate payment of 55 percent of certain assets held at the GDB.
Those concessions are offset by other changes that keep the new structure roughly neutral for credito…
Read the full article at: https://uk.reuters.com/article/us-usa-puertorico/puerto-rico-gdb-amends-wind-down-deal-to-help-storm-battered-towns-idUKKBN1H327D