The International Airlines Group, which operates British Airways and Iberia, is to buy Austria’s insolvent low-cost holiday carrier Niki, dpa has learned. With its network of European and North African vacation destinations, Niki declared itself insolvent this month after German carrier Lufthansa withdrew its takeover offer for the airline. Lufthansa said it abandoned its…
The beleaguered Honeydew Dairies has been placed under provisional liquidation by the Pietermaritzburg high court. The company and all other interested parties have until February 8 to give reasons why the dairy should not be finally wound up. In addition, the master of the high court has been directed to appoint a provisional liquidator to…
Three years on from recognising his gambling addiction, Antony Smith can look forward to 2018 thanks to help with his finances and running. Antony, 28, a web designer, had already run up gambling debts approaching £36,000 when a bad result in an obscure Mexican league football match plunged him into despair as another £600 was…
The beleaguered Honeydew Dairies has been placed under provisional liquidation by the Pietermaritzburg high court. The company and all other interested parties have until February 8 to give reasons why the dairy should not be finally wound up. In addition, the master of the high court has been directed to appoint a provisional liquidator to…
In a tale of gambling addiction posted to Reddit shortly before Christmas, the numbers were as shocking as they were unsurprising. First the anonymous addict frittered away $200 (£149), in November 2016. Then $700 more, later that month. Then $300, $400, $1,500 eventually, by December 2017, a credit card debt of $16,000, too large to…
Gambling has become a social plague in Georgia, especially in the countryside. But institutions are very slow in regulating this sector (Originally published by Chai Khana ) When 28-year-old manual laborer Elshan Gulmammadov took to the slot machines in the Georgian town of Marneuli last year, all he wanted was money for the birth of…
The year 2017 saw the big banks introduce a slew of measures, from scrapped ATM fees to new ethical codes, all intended to boost their battered reputation and fend off a royal commission. In the end these measures were not enough, and in late November Prime Minister Malcolm Turnbull folded to political pressure and called a royal commission.…
Poor Christmas sales for Australia’s retailers could actually help Oroton’s new owners, led by fund manager Will Vicars, as they prepare for a fight with some of Australia’s biggest landlords. Mr Vicars, the chief investment officer at Caledonia, signed a deal with Oroton’s administrators on December 23 to rescue the business, which collapsed in November.…
MUMBAI: Castex Technologies, a subsidiary of automotive component maker Amtek Auto with debt of over Rs 6,000 crore, has been admitted to bankruptcy court. State Bank of India (SBI), the lead bank, initiated bankruptcy proceedings in the Mumbai bench of the National Company Law Tribunal (NCLT). Castex Technologies, a provider of iron cast auto components,…
More than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far. With 470 cases admitted by the National Company Law Tribunal (NCLT) under the IBC, most experts are keenly watching the outcome of the…