James Hurley, Enterprise Editor The number of people being declared insolvent has risen by more than a fifth. In the second quarter 22,503 people were made insolvent, 22 per cent higher than the same period in 2015, and a 6.9 per cent increase on the first three months of 2016. It was the fourth quarterly…
Atlantic City, New Jersey’s gambling hub, will make its $3.4 million debt service payment due Aug. 1, Mayor Don Guardian said on Thursday amid concerns over whether the cash-strapped city would default. In legislation signed by Governor Chris Christie in May, the state committed to helping the city by providing a bridge loan while local…
Former Spazio Casa director Paulo Cozzolino wrongly accused a former staff member of stealing products and selling them online. An application has been made to put bathroomware company Spazio Casa into liquidation. According to a public notice, an application for liquidation was filed on July 6. The company could not be reached for comment and…
On 22 June 2015, Xavier Justo, a 48-year-old retired Swiss banker, walked towards the front door of his brand new boutique hotel on Koh Samui, a tropical Thai island. He had spent the past three years building the luxurious white-stone complex of chalets and apartments overlooking the shimmering sea and was almost ready to open…
There has been a massive rise in the number of people seeking help with council tax debt. As arrears in payments to the local authority continue to mount, the issue has become the top reason for people seeking help with financial issues from Citizens Advice. In the past council tax has been frozen but there…
Spanish energy company Repsol has posted a net profit drop of 30 percent in the second quarter compared with the same period last year mainly because of workforce restructuring costs. Repsol S.A. said Thursday its profits totaled 205 million euros ($225 million) in April through June, against 292 million euros for the period in 2015.…
UK parliamentarians have criticised as wholly inadequate attempts by the former owner of retailer BHS to address the companys pension deficit and called for significant contributions to address the schemes underfunding. Philip Green was the focus of the parliamentary investigation into the retailers insolvency earlier this year, which followed Greens sale of BHS to Retail…
Swiber Holdings Ltd. filed a petition to wind up and liquidate the company after facing demands from creditors amid a slump in offshore oil and gas businesses. The Singapore stock exchange said its investigating potential lapses in disclosure. The company said it made the application on July 27 to a Singapore high court, with a…
Investors are braced for another bout of turbulence on global markets ahead of the release of special reports on the financial health of Italys ailing banking sector. On Friday evening (AEST), the European Banking Authority will publish the findings of its financial stress-testing of 50 banks in the European Union, including Italys five largest banks…
One of News Corp’s best-known sports reporters has received payments from Eddie Hayson, the controversial gambler alleged to be at the centre of some of the most sensational betting scandals in rugby league and racing. The multiple cash deposits into the TAB account of Phil “Buzz” Rothfield, the sports editor-at-large at the Daily Telegraph and…