The majority of companies going for liquidation under the Insolvency and Bankruptcy Code (IBC) have been non-operational for almost over a decade. With assets depreciating over time, experts say, the demand from buyers will be muted, leading to large haircuts for lenders and creditors. These companies have not been doing well for a considerably…
BRAMPTON, Ontario–(BUSINESS WIRE)–DATA Communications Management Corp. (TSX:DCM) (DCM or the “Company”), a leading provider of business communication solutions to companies across North America, announced its consolidated financial results for three and six months ended June 30, 2018. Our revenue continued to demonstrate year over year growth, thanks to contributions from our recent acquisitions and a…
August 14, 2018 12:29 Shoo of the defunct millennial girl band SES is accused of fraud for failing to repay a W600 million gambling debt (US$1=W1,134). She is being sued by two creditors who loaned her W350 million and W250 million at a casino in Seoul in June. Shoo But Shoo’s attorney argues…
Theres a common link between the many things that have promoted insecurity at work: the growth of franchising; labour hire; contracting out; spin-off firms; outsourcing; global supply chains; the gig economy; and so on. Its money. At first, that seems too obvious to say. But Im talking about the way financial concerns have taken control…
TERESA RAMSEY/STUFF Thames Coromandel CAP Debt Help Centre manager Eleanor Birrell, with Equippers Church Pastor Ryan Sims. A free budget service has been launched to help fight poverty in the Thames-Coromandel and Hauraki districts. The Thames Coromandel CAP Debt Help Centre will be launched on August 16, with support from Thames Equippers Church and Christians…
A company that was set up to improve the services of Vanuatu’s public broadcaster has been put into liquidation. Photo: 123RF Vanuamadia Digital was set up in 2015 by a joint-venture between the VBTC and a Chinese digital service provider. The company promised to deliver an improved digital offering, but the then-chair of the VBTC,…
Q: My husband and I recently divorced. Im having a hard time adjusting to the single life. When we were together, we had more money coming in, but now Im renting a one-bedroom apartment, which costs me $1600, not including my hydro and internet. Ive also got car expenses and my cellphone bill. I only make…
The head of Citigroups US credit card business, Jud Linville, is leaving the bank as part of a restructuring to unify the business with other parts of the retail banking operation. Anand Selva, head of consumer banking in Asia, would become the head of US consumer banking, the company said on Monday, taking responsibility for…
On 26 June 2017, the Recast EU Insolvency Regulation (recast EIR) entered into force, replacing the EU Regulation on Insolvency proceedings (EIR), which had been in place since May 2002. The new legislation set out new provisions for cross-border insolvencies. It broadened the scope of the original regulation to pre-insolvency proceedings and introduced a significant change in no…
Deutsche Bank has almost finished restructuring its Asian investment-banking business and plans to add bankers in the coming months, said regional head James McMurdo. Yes we did trim, but we trimmed where we thought we were less competitive, or where we thought the opportunity was not that significant and that has largely been completed, McMurdo,…