The deadline for submitting bids for the beleaguered Essar Steel, put up for sale under Insolvency and Bankruptcy Code (IBC), ends today and it’s reportedly looking like a tug of war between the Ruias and L.N. Mittal, though Tata Steel is also expected to enter the fray. Yes, the government has amended the Insolvency and…
AUSTRALIAN families are facing another year from a debt treadmill, thanks to credit card complacency, research has revealed. A survey by lender SocietyOne found that of the Aussies who took out a balance transfer card to help pay off their debt faster, 67 per cent had neglected to cancel their existing credit cards and 12…
Employees transferred in prison and defence contracts but more than 1,000 ex-staff have lost jobs Carillion ran maintenance services at prisons including Wandsworth. Photograph: Graeme Robertson for the Guardian More than 4,400 staff who worked for collapsed government contractor Carillion will keep their jobs, the Insolvency Service has said, after new companies were found to…
The assets of Latvias insolvent steel company KVV Liepajas Metalurgs will be sold off by auction, the companys insolvency administrator Guntars Koris has decided, reported LETA on January 15. The insolvency administrators spokesman Dzintars Hmielevskis told LETA that the decision has been taken because none of the companys potential investors had met the requirements set by…
Jamie Olivers Italian restaurant empire has hit turbulent times after The Sun revealed Jamies Italian Limited owes debts totalling $125 million. The Sun obtained High Court documents detailing the companys debt, which includes $53 million to financial services company HSBC in overdrafts and loans. Advertisement The company also owes approximately $73 million to landlords, s……
Share this: Transitional periods can be tough, especially when they involve a whole whack of downsizing, but for Toronto-based Redknee Solutions Inc. (TSX:RKN), coming out of restructuring slimmer and more streamlined will make a world of difference, say analyst Robert Young and associate Christian Sgro with Canaccord Genuity, who have raised their target price on…