Sad news for those of us that have been around a while, I have had several Hobbico models and many many bits and pieces from them over the years.
The NexSTAR model in RC Simulator RealFlight must have launched a thousand hobbyists.
Hobbico announced today that they are filing for restructuring under Chapter 11 of the Bankruptcy Code and that they are pursuing a process to sell or restructure the company. Its important to know Hobbico will continue to operate the business throughout the bankruptcy process. Numerous companies across a range of industries (automotive, airlines, etc.) use this type of filing as a tool to get costs under control, create stability and build platforms for growth.
Hobbico intends to use the bankruptcy f…
Read the full article at: https://www.suasnews.com/2018/01/hobbico-restructuring-chapter-11/
BENGALURU: Paytm‘s parent company One97 Communications’ restructuring exercise wherein it separated its online retail from its payments business has helped it pare losses by over 40% to Rs 900 crore in financial year 2016-17 from Rs 1,548 crore in FY16, according to the company’s filings with the Registrar of Companies (RoC).
The company had hived off its ecommerce platform into Paytm Ecommerce (Paytm Mall) while it became a 49% shareholder in the payments bank business because of regulatory reasons in mid-2016.
Paytm E-commerce had paid Rs 620 crore to One97 Communications for the transfer of assets during restructuring. This is likely to have brought down the losses for the parent company. One97 is yet to file its detail…
Read the full article at: https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/one97s-restructuring-idea-pays-off/articleshow/62452818.cms
A bankrupt bridal gown company that left distraught brides in its wake in July is open again in one location in Dallas.
But if prospective brides want a heavily-discounted dress, they’d best act fast.
Alfred Angelo had more than 80 locations across the United States and …
Read the full article at: http://www.wfaa.com/news/bridal-gowns-for-299-bankrupt-store-re-opens-in-garland/506977517
CASH-STRAPPED households struggling to make ends meet are about to reach crisis point, warns a charity.
Citizens Advice Halton expects the last day in January to be the years busiest day for debt advice.
Latest figures reveals that on 31 January, 2017, the charity helped 2,800 people, 30 per cent above the daily average.
Citizens Advice Halton is expecting more than 250 people to seek advice on debt this month.
The charity provides help on a wide variety of financial issues including council tax arrears, credit card debt, rent arrears and unsecured loans.
Chief officer Hitesh Patel said: There is a surge in demand for our debt advice towards the second half of January.
Christmas can take …
Read the full article at: http://www.runcornandwidnesworld.co.uk/news/15818795.Families_facing_financial_crisis_urged_to_seek_debt_advice/
The government has made contingency plans for the collapse of Carillion, the UKs second largest construction company and a key provider of public services.
The troubled contractor which has 20,000 UK staff and is an important supplier to the government, including a contract for work on the HS2 rail link held crunch talks with its creditors on Wednesday to try to persuade them to back a rescue plan.
The company ran into financial difficulties last year after issuing three profit warnings in five months and writing down more than £1bn from the value of contracts.
It has debts of about £1bn and a £600m pension deficit, but a stock market value of just £100m after its shares collapsed 90%. Last week it emerged Carillion was being inv…
Read the full article at: https://www.theguardian.com/business/2018/jan/10/government-carillion-collapse-contingency-plans
ADVISORS at Wiltshire Citizens Advice expect January 31 to be the years busiest day for debt advice.
They say that people seeking help with their debts generally call for help on the last day of January.
Locally, Wiltshire Citizens Advice is expecting 300 people to seek advice on debt this month.
Suzanne Wigmore, Chief Officer of Wiltshire Citizens Advice, said: There is a surge in demand for our debt advice towards the second half of January.
Christmas in particular can take a heavy toll on people already struggling to make their money last and leave them with a debt burden in the New Year.
But this neednt become a crisis – problems can be taken care of if you seek advice early.
The New …
Read the full article at: http://www.swindonadvertiser.co.uk/News/15817168.January_is_busiest_month_for_debt_advice/
Benzinga is proud to introduce the Benzinga Women’s Wealth Forum, a space where women can learn how to empower themselves through financial technology and be inspired by the stories of powerful women in finance.
Ahead of the March 22 event, we’re highlighting the stories of our speakers, some of the leading women in the financial services industry.
Our next installment is an interview with Pefin founder Ramya Joseph.
Give us the elevator pitch for your company.
Pefin is the worlds first Artificial Intelligence (AI) financial advisor. The platform provides intelligent, unbiased and personalized financial planning and advice. Pefins mission is to look after the financial best interests of users in a way that embraces the …
Read the full article at: https://www.benzinga.com/fintech/18/01/11016535/stressing-about-when-and-how-to-pay-your-debts-pefins-ai-assistant-is-here-to
Kidnapping suspects (not in order) Zhao Xu, 29 years old, Cai Xing Bao, 29 years old, Tia Xao Lin, 30 years old wait in handcups 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: http://newsinfo.inquirer.net/959162/raps-filed-vs-3-chinese-debt-collectors-who-adbucted-taiwanese
Australia’s big four banks have raised $9 billion in the first 10 days of the year, taking advantage of the most favourable conditions in capital markets since the financial crisis.
The frantic pace of issuance exceeds the $5.25 billion raised by the major banks in January 2017 as they lock in lower funding costs and further reduce the need to compete aggressively for deposit funding.
On Tuesday, ANZ Banking Group issued $3 billion of three-year and five-year debt in the Australian market, paying a rate of 3.13 per cent for the five-year tranche. The margin ANZ paid for the five-year of 77 basis points over the bank rate is a 30 per cent decline from the 111 basis points paid by the Commonwealth Bank when it sold five-year bon…
Read the full article at: http://www.afr.com/business/banking-and-finance/australian-banks-blitz-debt-markets-for-9-billion-as-funding-costs-fall-20180110-h0gb7c
The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Bhushan Energy Ltd after admitting a plea from the country’s largest lender State Bank of India (SBI).
A two-member bench of NCLT has appointed Navneet Kumar Gupta as the interim resolution professional (IRP) to initiate insolvency proceedings.
Bhushan Energy Ltd, the corporate debtor, had a default of Rs 494.09 crore as on October 31, 2017.
“… We accept the appointment of Mr Navneet Kumar Gupta to act as IRP,” said the NCLT bench comprising President M M Kumar and Deepa Krishan.
related news
The tribunal had directed IRP to perform his functions “religiously and strictly” and directed …
Read the full article at: http://www.moneycontrol.com/news/business/nclt-nod-to-initiate-insolvency-against-bhushan-energy-2480421.html
About NYRT
NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT’s shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value. For more information, please visit our website at www.nyrt.com.
Forward-Looking Statements
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Read the full article at: https://www.prnewswire.com/news-releases/new-york-reit-inc-closes-on-previously-announced-sale-of-its-350-west-42nd-street-property-300581070.html