The company said it had applied for the court order for preliminary insolvency proceedings, but aimed to try and restructure its operations and has brought in an expert, Christian Gerloff, to support this. The order applies to parent company Gerry Weber International, which said all subsidiaries are currently excluded. Key measures, which have been agreed…
There are several reasons why we borrow money different purposes, different sources, different lenders, ending up to multiple debts and loans we need to pay for either monthly, quarterly or annually, depending on the terms and conditions the loans impose, not to mention varied interest rates on each debt. Most of the times, maintaining a…
Turkish intercity bus company Pamukkale, which employees 3,500 people, was declared bankrupt after the ruling of a court, BBC reported. A court in the Aegean province of Izmir rejected the companys request for bankruptcy protection on Thursday. In weighing Pamukkales request, the court examined the companys finances, determining that there was no potential for the…
Lily Gold Mine in Barberton. PHOTO: Supplied/Vantage Goldfields website JOHANNESBURG Rob Devereux, the business rescue practitioner of the Lily and Barbrook mines, is considering placing the mines under liquidation, charging that the new mine owners have failed to produce proof of funds that have been required to resume the operations. Devereux is alleging Flaming Silver…
Only months after cutting its dividend, Anheuser-Busch InBev found itself under pressure in December from credit-rating agencies warning it was not paying down its $109bn debt mountain fast enough. So the group swung into action, putting together a debt refinancing to pay off $16.5bn of bonds that come due over the next seven years with…
New state office hopes to help Virginians who are loaded down with student debt RICHMOND A new office housed within the State Council of Higher Education for Virginia is trying to help people with student loan debt. The state agency has opened the Office of the Qualified Education Loan Ombudsman to help with problems with…
Debt- whether they are from loans, credit cards, or unpaid bills, can become debilitating and overwhelming. They will steadily worsen your credit until your credit score is so low you cant buy anything of value. It keeps you from purchasing vehicles and obtaining housing. Debt can even threaten your home, since mortgage lenders could foreclose…
More than 11,600 borrowers received advice and support from Abhaile, the States mortgage arrears and debt resolution service over a two-year period, according to a recent report. The Department of Justice and Equality, and the Department of Employment Affairs and Social Protection, who co-ordinate the scheme, published annual reports reviewing the take up and outcomes…
Catherine Sanz Charlie Flanagan, the justice minister, said Abhaile was helping those struggling most with arrearsBRIAN LAWLESS/PA Nearly one third of borrowers who engaged with the states mortgage advice service had a solution in place within a year of seeking help, a report says. A second annual report from Abhaile, a service for mortgage holders…