Teva Pharmaceutical Industries Ltd.’s new chief executive officer ousted the company’s three top division heads on Monday as he works to turn around and streamline the operations of the debt-laden drug maker. CEO Kare Schultz, who joined Teva on Nov. 1, said he will combine the Israeli company’s generic and specialty drugs business, as well…
Drugs manufacturer Mayne Pharma is still feeling the impact of tough competition and lower prices in the generic drugs market in the US, but expects that the release of new drugs and restructuring initiatives will boost the company’s financial performance. Chief executive Scott Richards says the company’s first half is expected to be “soft” but…
Mr Nduna Herald ReporterCHEGUTU West legislator and businessman Mr Dexter Nduna has dispelled press reports that he is bankrupt, arguing that a newspaper article stating otherwise was calculated to sully his person and standing. Last week, reports suggested that the High Court had declared Mr Nduna and his wife, Schalastica, bankrupt for failing to pay a…
ROHNERT PARK, Calif., Nov. 27, 2017 /PRNewswire/ — Americans are collectively facing an enormous amount of student debt, and that debt is delaying some major life milestones and financial goals for some borrowers. These can include buying a home or saving for retirement. Ameritech Financial, a document preparation company that helps federal student loan borrowers apply…
Online cash flow lender Waddle has secured a $50 million debt funding facility, as it revealed it almost doubled its lending volume in the last financial year. The software is integrated into popular small business accounting packages like Xero, Intuit and MYOB to be able to look at which invoices are overdue for its customer.…
By Lisa Mcloughlin For Mailonline Published: 06:07 AEDT, 28 November 2017 | Updated: 06:13 AEDT, 28 November 2017 e-mail View comments His financial woes hit the headlines in June after it was reported that he never paid back an undisclosed debt to a private bank. And now Boris Becker, 50, has insisted that his bankruptcy was…
By Arijit Barman Last weeks new insolvency Ordinance, barring all wilful defaulters, or incumbent promoters with bad loans for ayear or more, from the auction process to repurchase their asset if they fail to clear all overdues is great polemics. But emotions aside, it may end up bankrupting the banks even more. Auctions have to…
NEW DELHI: The insolvency ordinance provides a level playing field to all parties interested in participating in the resolution process and there are enough players to ensure that competitive bids are made for stressed assets, said government officials, as they defended the new measures that prevent errant promoters from trying to reacquire assets till they…
STUTTGART (Reuters) – The founder of Germany’s failed Schlecker drugstore chain got a suspended sentence and his two children got jail terms on Monday for taking money from the company before its collapse. Founder of collapsed German drugstore chain Schlecker gets suspended prison term Workers who lost their jobs when the firm shut its stores…
Indian lenders may oppose the move at NCLT as they are close to taking 51% in the firm Mumbai, November 27: More trouble is brewing for debt-ridden Reliance Communications (RCom), with China Development Bank (CDB) filing an insolvency case against the telecom company, a move that would be opposed by Indian lenders. CDB, a lender…