Identity of Securitas chief executive stolen, bankruptcy filed The chief executive of Swedish security firm Securitas AB, Alf Göransson, has been declared bankrupt after having his identity stolen. The company announced on Wednesday in a release that a fraudulent loan application in Göransson’s name was made in March. As a result, Göransson was declared bankrupt…
Introduction Pentair (NYSE:PNR), a leader in the diversified industrials market, recently entered into a series of transactions that has narrowed down its portfolio of business segments. In August of 2016, it announced its intent to sell its Valves & Controls business – notably its largest segment and biggest foray into the oil and gas market…
The latest regional personal insolvency statistics have revealed that the North East had the highest rate of personal insolvency of any part of England and Wales in 2016. The region had a total individual insolvency rate in 2016 of 25.3 per 10,000 adults, which is over 25% higher than the average for England and Wales.…
What law has Mr Ludlam fallen foul of? Section 44 of the Constitution sets out restrictions on who can be a candidate for federal parliament. Five subsections make clear what disqualifies people, but its article one that tripped up Mr Ludlam. It rules out anyone with allegiance, obedience, or adherence to a foreign power, or is…
As Chinas economy slows down, dispute resolution work for offshore law firms has grown, and a number of them have beefed up their disputes practices. A slowdown of the Chinese economy has hurt a number of international firms in Asia as capital markets work has dwindled. But on the flip side, offshore firms have…
India recently directed lenders to initiate bankruptcy proceedings against 12 of the biggest loan defaulters in an effort to clean up the countrys bad loan mess. But how effective will it be? Last month, Indias central bank asked lenders to initiate bankruptcy proceedings against a dozen companies, including Essar Steel, Bhushan Steel Ltd, Monnet…
Published July 14 at 12:02 pm The National Bank of Ukraine (NBU) in Kyiv on Sept. 14, 2016. Photo by Julia Berezovska/ Press office NBU Popular on social media The National Bank of Ukraine (NBU) has declared joint-stock commercial bank Novy (New, Dnipro) insolvent, the central bank has reported on its website. The NBU board…
European data suggests that approving further online gambling in the United States will generate more wagering and more tax revenue, but it is not clear whether online will cannibalise some land-based revenue, one prominent analyst has said. US casinos, led by billionaire casino owner Sheldon Adelson, oppose online gambling in part due to claims that online…
Women are increasingly more likely than men to see their finances deteriorate so badly that they become insolvent, official figures show. The rate of female insolvencies across England and Wales first overtook that for men in 2014 and since then the insolvency gender gap has widened. In 2016, for the first time, women were more…
Ahmedabad: The Gujarat High Court on Thursday directed for placing on the record before it an RBI directive to a consortium of 22 lenders to initiate insolvency proceedings against Essar Steel following its high Non-Performing Assets (NPAs). Hearing the 4 July petition filed by the major steelmaker to seek quashing of insolvency proceedings, a single bench…