In the recent wave of coal company bankruptcies, CEOs have been awarded multi-million dollar bonuses, while at the same time the companies are seeking release from their decades-old obligation to cover lifetime health benefits for retirees who are members of the United Mine Workers Union of America. The union says a bill in Congress that…
MASSACHUSETTSA company that allegedly charged hundreds of Massachusetts borrowers unlawful upfront fees and misled them about its affiliation with the federal government will refund those customers, Attorney General Maura Healey said. Under the terms of a settlement, Libre Technology, Inc. which did business under the name Student Loan Service.US will refund $160,000 to more than…
HMRC is chasing the former BHS owner Dominic Chappell for unpaid bills and has started legal proceedings against him. The tax authority filed a petition at the high court to wind up Swiss Rock Limited, Chappells personal business that was paid at least £1.6m by BHS as part of his controversial acquisition of the retailer.…
Law firm Howes Percival has expanded its insolvency and corporate recovery team with the recruitment of Fiona Stuart who joins as an associate. Previously with Isadore Goldman, she will support Howes Percivals corporate team in Cambridge. Stuart specialises in all aspects of personal and corporate insolvency and advises business owners, creditors, insolvency practitioners and other…
One of the top 15 tour operators in Romania, Mareea, filed for insolvency on Friday, September 2, due to cash-flow issues. About 1,100 of the companys clients, who had paid for holidays, will not be served, according to Romanias National Tourism Authority ANT. The total value of the contracts that Mareea cant honor is EUR…
Despite VPB, through its proprietor Anthony Siwawa, putting up a fight to save the business from final liquidation, Leburu pronounced it just and equitable for the operation to be wound up considering that its franchise agreement has been terminated while it has also failed to service a P41 million FNBB loan among other creditors. FNBB,…
KEITH WHITTEN/FAIRFAX NZ The Inland Revenue Department is applying to liquidate the Mad Butcher store in Silverdale. Another Mad Butcher store is facing liquidation, in what could be the seventh franchisee of the discount butcher chain to go under in the past 18 months. The Inland Revenue Department (IRD) has made an application to liquidate the…