A billionaire businessman who has failed to pay a £2.2million debt racked up at the Ritz casino should be jailed for ten months, a top judge has ruled. Safa Abdulla Al Geabury, 52, claimed the casino should have stopped him playing as he is a known gambling addict, telling the High Court: “the Devil made…
File pic RELATED: Australian Workers’ Union to fight for Whyalla Steelworks READ THE STATEMENT: Scroll down Embattled steel and mining group Arrium has been placed into voluntary administration, following discussions with its lenders. The appointment comes just days after Arrium’s banking syndicate rejected a recapitalisation proposal from US group GSO and follows prolonged talks between the…
AUSTIN, Texas–(BUSINESS WIRE)–Etude Capital, LLC, together with its affiliates and the other participants in its solicitation (collectively, Etude or we), collectively the largest stockholder of RENN Fund, Inc. (RENN or the Company) (AMEX:RCG), with ownership of approximately 11.4% of the Companys outstanding shares, issued the following statement regarding the news announcement that RENNs board approved…
Related Story: Arrium shares suspended while banks decide its future South Australian-based steelmaker and iron ore miner Arrium has been placed in voluntary administration by its directors. Key points: Administrators from Grant Thornton will assume control of Arrium’s day-to-day operations immediately, while working with lenders, staff, suppliers and government to review…
2016-04-07T14:48+02:00 14:48 07.04.2016 Bank Khreschatyk (Kyiv) from April 4, 2016, before the bank was declared insolvent, terminated duties of a member of its supervisory board and a representative of the financial department of Kyiv City Administration Viktor Padalka, who filed a resignation letter, said a report in the information disclosure system of the National Commission…
The European economy is now entering its fourth year of recovery and growth continues at a moderate rate, driven mainly by consumption. In the near term, I expect investment to gradually pick up as well, as demand increases, as businesses put their machinery back to work, and as profits increase thanks to lower energy prices…
A federal grand jury indicted Diane Kroupa and Robert Fackler on charges of tax evasion, obstruction of a tax audit, conspiracy and making and subscribing false tax returns, the U.S. Attorney for the district of Minnesota said in a statement. “As a former tax court judge, Kroupa dealt regularly with individuals who cheated on their…
Romanian prospecting company Prospectiuni Bucuresti, controlled by local investor Ovidiu Tender, has entered insolvency. The Bucharest Court approved the companys insolvency request and appointed local firm Euro Insol as judicial administrator. Euro Insol, founded by Romanian lawyer Remus Borza, is also the legal administrator of state-owned power producer Hidroelectrica. It also manages other big…
Prospectiuni, the Romanian firm providing exploration services for the oil and gas sector, has filed for insolvency. The company has been struggling with falling oil prices, posting losses in the past two years. Euro Insol was named judicial administrator of Prospectiuni. Remus Borza, the representative of Euro Insol, said that the company is dealing with…
Arrium workers face uncertain future Thousands of jobs are at risk after troubled steel and mining group Arrium was placed in voluntary administration after failing to win the support of its lenders for a funding deal. The debt laden company has appointed Grant Thornton as administrators, with executive control to be transferred immediately. Arrium’s lenders…