CSG has more than tripled its losses after making the decision to exit its enterprise business earlier this year forced the company to write down its assets by $116 million. The company racked up a statutory net loss after tax of $150.1 million for the 2018 financial year ending 30 June, compared to a $43.7…
Greece reached an important milestone yesterday: After nearly nine years of crisis, brutal austerity and political turmoil, it exited what was supposed to be the last of three bailout programmes. If only it weren’t doing so with Europe’s largest debt burden. Europe’s leaders are understandably eager to be done with an embarrassing episode. The debt…
The late Mark Boscariol’s three restaurants were closed abruptly because the company operating them was insolvent, says his family. In a release sent to CBC News Monday, the family of the entrepreneur says that decision was made while administering Boscariol’s estate. “As common in small businesses, the founder is the glue that keeps the business together through…
The National Company Law Appellate Tribunal (NCLAT) on Monday granted an interim stay on the liquidation of Jyoti Structures Ltd. The National Company Law Tribunal (NCLT) had earlier approved bankruptcy proceedings against the company, in response to a plea by lenders, led by State Bank of India. However, after several attempts to find a buyer…
Major leisure infrastructure projects in Hong Kong, including the West Kowloon Cultural District and Ocean Parks new hotel and waterpark – are experiencing significant overruns as a result of construction delays and contractural issues. At the end of last week, the West Kowloon Cultural District Authority (WKCDA) fired its main contractor following a protracted financial…
IN a sliding doors moment, Nathan Tinklers former right-hand man, Troy Palmer, has been declared bankrupt with debts of more than $21 million, just as word emerges that his former one-time billionaire boss has had his personal bankruptcy annulled. The Herald can reveal that retail giant Gerry Harvey has bailed the former mine electrician from Muswellbrook out for a…
Introduction Recent case Court’s obiter comments Comment Introduction The United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-border Insolvency is not formally recognised in Hong Kong, unlike in Singapore which adopted it last year.(1) There are no statutory provisions empowering the Hong Kong courts to provide assistance and recognition to foreign insolvency…
Krishnan Suthanthiran has denied any wrongdoing, and his dogged fight to squelch the Belgian probe has been playing out in courtrooms in two Canadian provinces Krishnan Suthanthiran, President of Kitsault Resort Ltd in Vancouver, BC, October 24, 2008. Lyle Stafford for National Post Its been a few years since Krishnan Suthanthiran last made headlines. They…
SUGAR LAND, Texas, Aug. 20, 2018 /PRNewswire/ — More than half of Americans who have been in credit card debt (51%) have used some form of credit card debt relief, according to a recent online survey conducted by The Harris Poll on behalf of Money Management International (MMI). Among them, the most common form of relief…
Apple today confirmed it has removed “many” illegal gambling apps, and developers distributing them, from its App Store in China. The Wall Street Journal: “Gambling apps are illegal and not allowed on the App Store in China,” Apple said in a statement Monday. “We have already removed many apps and developers for trying to distribute…