Veritas Technologies has hired a corporate restructuring specialist in the face of business difficulties. El Reg was told by Veritas insiders that CEO Greg Hughes has engaged Alix Partners to look at the company structure. He discussed cost pressures, initiatives and possible actions being considered at a 15 February all-hands meeting that was beamed direct…
Image copyright South Beds News Agency Image caption Bedfordshire Police detective Gareth Suffling was jailed for three years for blackmailing a prostitute’s customer The Police Federation has seen an increase in officers seeking help with debt after a documentary showed a detective being arrested for blackmail. Bedfordshire officer Gareth Suffling, 36, was jailed for three…
AC Milan owner Li Yonghong has dismissed reports that he has been declared bankrupt in China as “fake news”. Chinese businessman Li – who purchased the Italian club for $911 million in April 2017 – was responding to reports that he has been ordered to auction off his assets to repay loans from two banks.…
Image copyright Reuters Image caption Wu Xiaohui was considered one of China’s most politically connected men Beijing has cracked down on insurance and financial giant Anbang, taking control of the conglomerate and prosecuting the firm’s head. Wu Xiaohui, who was already detained by authorities last June, is to face prosecution for “economic crimes”. In an…
Do you have outstanding medical debt and need some help figuring out what to do? Our NBC 5 Responds team has culled together the following list of resources that may be able to help. Additionally, NBC 5 will be hosting two phone banks Friday where people with outstanding medical debt can call for assistance about…
If youve ever been to the emergency room, you know the cost of a single visit can leave you feeling worse than before you got there. Medical debt is a huge problem — one in five Americans have it and its the most frequent cause of bankruptcy in the United States. Experts with RIP Medical…
By Jarrett Renshaw Exclusive: Trump calls meeting on biofuels policy blamed by bankrupt refiner NEW YORK (Reuters) – U.S. President Donald Trump has called a cabinet-level meeting early next week to discuss potential changes to biofuels policy, which is coming under increasing pressure after a Pennsylvania refiner blamed the regulation for its bankruptcy, according to…
The administrator of collapsed snack business Johns Nuts says franchisees have been left in a very challenging condition after the company entered voluntary administration at the end of January. On January 30, Michael Caspaney of Menzies Advisory was appointed to the five companies that operate the Johns Nuts business, a kiosk-style snack food operator that…
Anglo American has changed almost beyond recognition since a restructuring and sales programme was started in 2013 to address enormous debt, with the company on Thursday posting its highest dividend in a decade and slashing debt. Anglo CEO Mark Cutifani made the point several times during the diversified miners annual results presentation that the company…
Introduction Illiquidity Bow wave theory Decision Consequences for practice Introduction German regulations obliging managing directors to monitor the liquidity of a company during crisis situations are typically rather strict and give rise to the risk of personal liability in cases of non-compliance. Legislation requires company management to file for insolvency proceedings without undue delay in…