The Lusaka High Court has declared the Post Newspaper in liquidation insolvent.
High Court Judge Sunday Nkonde has ruled that the liabilities of the Post Newspapers in Liquidation exceed the values of its assets.
As a result of this the company is unable to pay its debt, reads part of the Consent Judgement by Judge Nkonde.
And Judge Nkonde has confirmed Lusaka Lawyer Lewis Mosho as the Liquidator of the Post News Papers Limited in Liquidation.
The court further stated that a decision has been made because there are no reasonable prospects of the company being rehabilitated as well as no reasonable grounds have been advanced to …
Read the full article at: https://www.znbc.co.zm/post-newspaper-declared-insolvent/
Hainan Airlines Holding, the Shanghai-listed unit of debt-ridden HNA Group, said it is making plans that may involve a major asset restructuring, adding uncertainty to the outlook for its parent.
Shares of Hainan Airlines were suspended from trading on Wednesday, at the request of the company pending an announcement. The suspension come one day after HNA said it would use more shares in the listed firm as collateral to meet the holding companys cash needs.
Important matters related to the company are being planned, Hainan Airlines said in a filing to the Shanghai Stock Exchange. It is still unknown whether these plans will amount to a major asset restructuring.
The company did not specify when the shares would resume trading…
Read the full article at: http://www.scmp.com/business/companies/article/2127826/hainan-airlines-weighs-asset-restructuring-parent-hna-charts-new
By Martin A. Sadongdong
Three Chinese were arrested by the Parañaque City police for allegedly kidnapping and mauling a Taiwanese in a hotel in Parañaque last Jan. 7.
Senior Supt. Victor Rosete, Parañaque police chief, identified the suspects as Zhao Xu, 29; Cai Xing Bao, 29; and Tia Xao Lin, 30.
The suspects were arrested after the victim, Lat Yun Chun, 38, was rescued in the hotel last Jan. 9.
According to Rosete, Chun went to a casino in Pasay on Jan. 7 to play where he met the suspects.
Chun apparently had a P100,000 debt to the suspects financier which he lost in a casino. The identity of the Chinese financier was not immediately known as police had a difficult time talking to the th…
Read the full article at: http://tempo.com.ph/2018/01/11/cops-arrest-3-chinese-for-mauling-taiwanese/
Kidnapping suspects (not in order) Zhao Xu, 29 years old, Cai Xing Bao, 29 years old, Tia Xao Lin, 30 years old wait in handcuffs as they are presented to media at the Parañaque Police Station on Wednesday, January 10, 2017. The 3 suspects are arrested for alleged serious illegal detention and physical injuries of victim Lat Yun Chun, a Taiwanese national. INQUIRER PHOTO / GRIG C. MONTEGRANDE
The Parañaque City police on Wednesday filed charges against three Chinese men who allegedly kidnapped a Taiwanese national to force his family into paying a P100,000 debt to a casino financier.
Lat Yun Chun, 38, was rescued by the police who found him in a room at Baymont Suites and Residences on Airport Road, Baclaran, on Tuesday afternoon.
…
Read the full article at: https://newsinfo.inquirer.net/959162/raps-filed-vs-3-chinese-debt-collectors-who-adbucted-taiwanese
IVRCL was locked at 5% upper circuit at Rs 6.15 at 14:36 IST on BSE after the company announced that its lender, State Bank of India has initiated corporate insolvency resolution process against the company.
The announcement was made during market hours today, 11 January 2018.
Meanwhile, the S&P BSE Sensex was up 24.39 points, or 0.07% to 34,457.46. The S&P BSE Small-Cap index was up 58.96 points, or 0.3% to 19,962.27, outperforming the Sensex.
On the BSE, 5.69 lakh shares were traded in the counter so far, compared with average daily volumes of 5.08 lakh shares in the past two weeks. The stock was locked at a high of Rs 6.15 in intraday trade. The stock had hit a low of Rs 5.59 so far…
Read the full article at: http://www.business-standard.com/article/news-cm/ivrcl-spurts-after-lender-initiates-corporate-insolvency-resolution-process-118011100602_1.html
KOLKATA | MUMBAI: Visa Steel, which was taken to the National Company Law Tribunal (NCLT) on January 5 by lead lender State Bank of India for defaulting on Rs 3,600 crore of loans, is pursuing a resettlement plan with its bankers. The proposal includes selling its loans to asset reconstruction companies.
“While SBI has filed an application against Visa Steel at NCLT, the case is yet to be admitted, a process that is likely to take 1-to-2 months. Visa Steel is keen to utilise the time window and is trying to go for a resolution outside the court,” a source close to the development said.
In a statement to the BSE last Friday, informing the exchanges about the application filed by SBI with NCLT’s Kolkata bench to initiate cor…
Read the full article at: https://economictimes.indiatimes.com/steel/visa-steel-makes-last-last-mile-effort-to-settle-dues-outside-nclt/articleshow/62448903.cms
David Schwartz will speak at a Central Gippsland Cricket Association event next week about the perils of gambling addiction. file photograph
The Central Gippsland Cricket Association will roll out the welcome mat for former AFL great David Schwarz next week when he visits the Latrobe Valley to talk about the perils of gambling addiction.
The David Schwarz Program took out the 2012 International Gaming Award for Best Responsible Gambling Program in London and the former Melbourne star continues to serve as an ambassador for responsible gambling.
During his heyday, Schwarz was a talented forward for the Demons and earned the club’s 1999 best and fairest award and played a pivotal role in helping the side to the 2000 grand final.
He played 173…
Read the full article at: http://www.latrobevalleyexpress.com.au/story/5163545/spotlight-on-sports-gambling/