Shares in the struggling Freedom Insurance Groups fell out of bed yesterday after the company warned it could be facing a probe from regulators, liquidity strain in 2019 and a multi-million dollar customer remediation bill. The life insurance distributor saw its shares plunge more than 47% yesterday to take the loss so far in…
If a slim, yellow envelope with a Rye, New York, return address lands in your mailbox this Christmas season, do not throw it out. Its not junk mail. Some 1,300 such envelopes have been sent to New Yorkerscontaining the good news RIP Medical Debt, a New York-based nonprofit organisation, has purchased their medical debt and…
Following months of rumors about its financial difficulties, Swiss business aviation group and ACMI provider PrivatAir announced on Wednesday it filed for insolvency 41 years after it was established. Both PrivatAir SA in Switzerland and its subsidiary PrivatAir GmbH in Germany commenced insolvency proceedings. Over the past few weeks, a number of events have had…
The hedge fund run by Sears Chairman Edward Lampert is offering to buy many of the bankrupt retailers remaining assets for about $4.6 billion with hopes of keeping the chain in business and continuing to employ about 50,000 of its workers. The bid from Lamperts ESL Investments includes about 500 Sears and Kmart stores, headquarters…
Tips To End The Year On A High Note Shared By National Debt Relief There are a number of consumers who are trying to end the year right that is why National Debt Relief shares tips to accomplish that. The article titled How To End 2018 With Your Finances On A High Note released December…
The emergency $3.5bn debt restructuring at commodity trader Noble Group has been plunged into doubt after authorities in Singapore said they would not allow a relisting of its shares. Singapores white collar crime agency, its de facto central bank and stock exchange said they had decided not to allow trading in New Noble to go…
ST. PAUL, Minn.–(BUSINESS WIRE)–Patterson Companies, Inc. (Nasdaq: PDCO) today reported consolidated net sales of approximately $1.4 billion (see attached Sales Summary for further details) in its fiscal second quarter ended October 27, 2018, an increase of 1.4 percent compared to the same period last year. Internal sales, which are adjusted for the effects of currency…
The National Company Law Tribunal (NCLT) Thursday dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financial company promoted by Singh Brothers — Malvinder Mohan Singh and Shivinder Mohan Singh. A two-member principal bench headed by NCLT President Justice M M Kumar dismissed the plea of HDFC Ltd, which…
Data (Northern) Limited has been placed into provisional liquidation following a hearing at the High Court on 30 November 2018 after an application was issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy. The Official Receiver has been appointed as the provisional liquidator and has responsibilities…
UNSECURED creditors of failed grain business Convector Grain have criticised the administration and liquidation process, which left nothing for them in the final distribution of assets in spite of payments for liquidation, administration and legal fees totaling around $1.5 million. It is probably what we expected, we never thought we would get a big payment,…