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.
22 January 2018 12:07 (UTC+04:00) 286 By Trend Singaporean Keppel Corporation Limited has announced about voluntary liquidation of Caspian Shipyard Company
EU creditors will begin long-awaited talks on Greek debt relief as they prepare to sign off on one of the countrys last remaining hurdles under its 86bn bailout.
Mário Centeno, president of the eurogroup of eurozone finance ministers, said EU institutions will now explore how to link Greek debt relief to the countrys economic performance following a meeting in Brussels on Monday.
Technical debt relief talks will start ahead of a planned Greek bailout exit in August. EU creditors on Monday did not formally sign off on the countrys third bailout review but praised work from the Syriza government in enacting a series of economic reforms earlier this mont…
HELSINKI, Jan 22 (Reuters) – Europes next financial crisis may be averted with the help of a new safe asset aimed at breaking a vicious circle of lending by banks to their national governments, the man in charge of creating it said on Monday.
Philip Lane, the head of a taskforce working on a synthetic bond backed by the sovereign debt of all EU countries, said Safe Bond-Backed Securities (SBBS) would give banks in the region an alternative form of collateral to national government bonds.
Seeking to assuage fears in Germany that it could end up paying for other governments debt or bailing out the SBBS issuer in case of market stress, he said the issuing entity must follow strict guidelines and be shielded from political interference.
* Small business lobby calls for new dispute body (Adds lawmaker, small business reaction)
By Huw Jones
LONDON, Jan 22 (Reuters) – More companies should be allowed to complain to the Financial Ombudsman Service to seek redress if they feel they have been treated badly by their banks, Britains markets watchdog said on Monday.
The Financial Conduct Authority said only very small firms with fewer than 10 staff and balance sheet of up to two million pounds ($2.8 million) currently have access to the FOS, which can arbitrate on a complaint and order compensation.
The FCA came under pressure from lawmakers to extend access to the FOS following scandals…
The Insolvency and Bankruptcy Code (IBC) stands out among the series of reforms the present government has brought about as the Indian banking system juggles with the huge pile of non-performing assets (NPAs) of over Rs 8 lakh crore.
However, as in the case of any new law, the IBC too has certain loopholes and implementation-related issues, which came to the fore as the process progressed.
Even as the government and the Insolvency & Bankruptcy Board of India (IBBI) are being proactive in aiding resolution of NPAs, according to my understanding, there are certain major issues relating to income tax law in the insolvency resolution process that should be addressed in Budget
Four Malaysian men have been arrested over allegations that they duped and drugged a Chiang Mai resort owner so he would lose over Bt10 million at a gambling table which they denied, Tourist Police deputy chief Pol Maj-General Surachet Hakpan told the press in Bangkok on Monday.
Suspects Ng Ah Hing, 47, Loh Chuck Mun, 74, Chew Ngan, 76, and Lee Kin Chian, 61, were arrested for fraud on Sunday at a hotel in Soi Ratchadapisek 17, Din Daeng district, along with evidence including cash in Singaporean dollars, US dollars, ringgit and baht as well as mobile phones and some forged banknotes.
They were accused of duping 56-year-old Thai businesswoman Sawichaya Tratjamnong into ga…
Four Malaysian suspects are questioned and charged with colluding to cheat Sawitchaya Tratdamrong (left) out of 17 million baht by luring her into gambling with them. (Photo by Tawatchai Kemgumnerd)
Four Malaysian men have been arrested in Bangkoks Din Daeng area for allegedly cheating a wealthy Thai woman out of 17 million baht by showing an interest in buying her resort, then duping her into gambling with them.
Police apprehended Ng Ah Jing, 49, Chew Ngan, 76, Loh Chuck Mun, 74, and Lee Kin Chian, 60, at a hotel room on Soi Ratchadapisek 17 in Din Daeng district.
Seized from them were 28 items, including cash in Singaporean and US dollars, Malaysian ringgit and Thai baht, wristwatches, m…
Four Malaysian suspects are questioned and charged with colluding to cheat Sawitchaya Tratdamrong (left) out of 17 million baht by luring her into gambling with them. (Photo by Tawatchai Kemgumnerd)
Four Malaysian men have been arrested in Bangkoks Din Daeng area for allegedly cheating a wealthy Thai woman out of 17 million baht by showing an interest in buying her resort, then duping her into gambling with them.
Police apprehended Ng Ah Jing, 49, Chew Ngan, 76, Loh Chuck Mun, 74, and Lee Kin Chian, 60, at a hotel room on Soi Ratchadapisek 17 in Din Daeng district.
Seized from them were 28 items, including cash in Singaporean and US dollars, Malaysian ringgit and Thai baht, wristwatches, m…
Singaporean Keppel Corporation Limited has announced about voluntary liquidation of Caspian Shipyard Company (CSC) in Azerbaijan, said a message on the corporations website.
Keppel Corporation Limited (KCL) wishes to announce that its indirect subsidiary, Caspian Shipyard Company LLC has commenced a members voluntary liquidation following the expiration of the establishment agreement dated August 26, 1997 made between AzerFELS Pte Ltd (a subsidiary of Keppel Offshore & Marine Ltd), the State Oil Company of Azerbaijan Republic (SOCAR) and Lukoil Europe Holdings B.V., said the message.
RIGA – At the beginning of January 2018, tax debts in Latvia totaled EUR 1.217 billion, down 3 percent from December 2017, according to the information released by the State Revenue Service (VID).
This total includes current and suspended debts as well as debts with extended payment deadlines.
Tax debts to the central government basic budget stood at EUR 749.818 million, down 3.8 percent month-on-month, tax debts to local government budgets came to EUR 310.954 million, down 1.5 percent, while overdue social security contributions equaled EUR 156.195 million, down 2.1 percent.
As at January 1, 2018, current debts on which fines for late payment are being calculated made up 63.2 percent of the total amount or EUR 768.658 million.
ADVERTISING in sport is hardly new. Whole competitions are clumsily named after a sponsor, but, oh boy, Channel 7 takes it to an entirely new level in the bombardment of advertising through its two week coverage of the Australian Open.
Its not even the ads in the actual ad break Ill get to those later its the advertising disguised as content in the normal programming. Its the height of annoying, cynical penetration of brands.
What happened to just watching tennis?!
On Sunday and its always during the day when there are less matches on I watched about maybe 30 minutes of its coverage. In that time, I saw no less than five branded segments.
The first was advertising for a furniture brand, pretending to be an interview between Giann Rooney …
Yoga Events Australia New Zealand owes $1.6 million to 128 creditors.
The New Zealand company in charge of organising Wanderlust yoga festivals here and across the ditch owes at least $1.6 million.
Yoga Events Australia New Zealand directed and owned by Jonnie Halstead, was placed in liquidation on January 12, the appointed liquidator John Scutter’s first report said.
It owes 128 creditors, including regional New Zealand and Australia councils, yoga teachers, event infrastructure hire companies and media companies, including Fairfax Media publisher of Stuff.
In March last year, Shailendra Singh had stepped down as MD of Percept, which he had been part of for 33 years and still owns 50% in.
He is seeking Rs 2.6 crore in salary and unpaid dues as an operational creditor, which he claimed was paid to him through cheques but was dishonoured due to insufficient funds, according to his petition to the tribunal.
ET reviewed a copy of the petition.
Both Shailendra Singh and Harindra Singh declined to comment on the development.
Shailendra Singh, former managing director at Percept Ltd, has dragged his estranged brother Harindra Singh to the National Company Law Tribunal and sought insolvency of the Mumbai-based media and entertainment group that he co-founded to clear his dues.