The RCMP have laid charges against a separated couple who allegedly declared that their snow removal business, Ottawa Diamond Construction Inc., was bankrupt even though the business appeared to remain solvent. According to federal police officers, the pair, who are now divorced, declared the business bankrupt in 2015. They are alleged to have removed as…
The number of people going financially insolvent is predicted to have jumped to levels not seen for at least six years in official figures released on Tuesday. The Insolvency Service is due to release figures showing how many bankruptcies, debt relief orders (DROs) and individual voluntary arrangements (IVAs) took place in the fourth quarter of…
With the reference to the above captioned subject, we hereby inform you that 15th meeting of the Committee of Creditors (CoC) will be held on February 02, 2019 at 11:30 am, at the State Bank of India, Stressed Assets Management Branch-II, Raheja Chambers, 1st Floor, B Wing, Free Press Journal Marg, Nariman Point, Mumbai- 400021.…
Dear Sir/ Madam, Sub: Notice of Seventh Meeting of Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor) Pursuant to the provisions of Regulation 30 [Schedule III, Part A, Clause A (16) (g)] of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you…
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…