Photo: Trey Hollingsworth Trey Hollingsworth won the 9th District congressional seat vacated by Todd Young. Indiana Representative-elect Trey Hollingsworth is asking for help repaying some of his campaign loans. Hollingsworth spent more than $3 million of his own money on his campaign for Indianas Ninth Congressional seat. Some say his attempt to recoup some of…
James Packer’s Crown Resorts has doubled down on its massive retreat from its international operations, agreeing to sell a further $300 million of its stake in its Macau casinos. Crown announced on Friday it had entered an underwriting agreement to sell 40.9 million shares in Melco Crown Entertainment to institutional investors, in addition to the 98 million shares it said on Thursday would…
THE chief executive officer and executive director of interior design contractor Serrano Ltd has been declared bankrupt by the court. Catalist-listed Serrano said on Friday morning that the court had a bankruptcy order made against Chia Wing Keong after a hearing on Thursday. The proceedings were initiated by Bank of East Asia. Mr Chia has…
The Bank of Canada said elevated levels of household debt and imbalances in the housing market remain the primary risks to the country’s financial system, dangers that new government rules will mitigate over time. “Overall, the risk of nationwide household financial stress combined with a sharp correction in house prices across the country remains ‘elevated,’”…
European creditors have pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens. Greek stocks fell sharply and the government’s borrowing rates jumped higher as investors fretted over a potential flare-up in the country’s bailout problems and the possibility of early elections in the country. The…
European creditors on Wednesday pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens. At a meeting of the eurozone’s 19 finance ministers, Greece’s creditors offered some immediate debt help to Greece. They include smoothing some of Greece’s repayments to prevent debt humps and a…
A statement by the countrys international creditors Thursday denounced the governments controversial Christmas bonus payment for low-income pensioners but left a window of hope that the crisis will be overcome by leaving the decision for short-term relief measures to eurozone countries. Euro-area member-states will decide how to proceed with the short-term debt measures agreed in…
TOKYO — Takata Corp.s selection of a bidder is running behind schedule as the shortlisted companies embark on a more thorough review of the airbag maker behind the biggest auto safety recall, people familiar with the matter told Bloomberg. The successful bidder may only be named sometime in the January-to-March quarter, the people said, asking…
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) today notified regulations for liquidation process whereby an insolvency professional is barred from acting as a liquidator unless that individual is independent of the corporate debtor concerned. The regulations come into force with immediate effect. IBBI, set up under the Insolvency and Bankruptcy Code, seeks…
The European Commission launched its proposals for changes to insolvency law a few weeks ago, noting that Malta ranked last out of all the member states when it came to the efficiency of its procedures. The Finance Minister Edward Scicluna said the government had pre-empted the work of the Commission and decided to bolster the…