Toshibas board is to meet on Friday to approve a plan to spin-off of its profitable memory chip unit and court buyers for a stake in the newly separated company worth as much as $1.8bn, according to advisers. The reported plan, which analysts said would put a fire-sale price tag on a valuable Toshiba asset,…
Homeowners caught up in the collapse of WA builder Builton Group will only be able to claim up to $100,000 in losses for an alternative builder to finish their half-built homes, potentially leaving many heavily out-of-pocket. The Burswood-based builder, which also trades under the brands Platinum Homes and Aspireon Homes, went into external administration on…
Acting chief executive of Bus Éireann Ray Hernan has told the Oireachtas transport committee that drastic and decisive action is needed to resolve the financial crisis at the company. Mr Hernan said that to do nothing would result in the company, not just Expressway, going out of business. He said there was an “immediate risk of…
NEWS Proposals to revive student loan refinancing program fail, emphasize party lines by Matthew Gittelman | Jan 25 2017 | 3 hours ago Two bills intending to help students refinance federal loan debt failed to pass through the higher education subcommittee of the Virginia House Appropriations Committee. The measures, proposed and largely supported by Democrats…
A writ petition has been filed in the Bombay High Court challenging the constitutional validity of the Insolvency & Bankruptcy Code, more particularly, Section 7 of the Code. Section 7 allows the initiation of a corporate insolvency resolution process by a financial creditor, that could be any person to whom a debt is owed. This…
Judges in Delaware and Canada approved on Tuesday a plan to pay more than $7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009. The rulings by U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the Superior Court of…
For more than 10 years many African countries have borrowed intensely from the international capital market amid the continent’s continued economic growth. However, some African countries’ debt loads are worsening and signs of a debt crisis have emerged, due to a decline in major commodity prices, the sluggish eurozone economy and China’s economic slowdown. Meanwhile,…
by Ryan Ong EVERYTHING is faster and more efficient in the age of digital banking, including going bankrupt. When you consider you can get four times your monthly income in cash, in 15 minutes, its pretty amazing were all not stress eating caviar while looking at our monthly bills. For those without self-control though, the…