LGChemplanstooffloadmarginalbusinesses South Koreas LG Chem Ltd. is speeding up restructuring efforts to sell or downsize uncompetitive businesses, with an aim to focus on three growth drivers: battery materials, eco-friendly businesses and new drug development. Earlier this month, it sold the in vitro diagnostics business of the life science division to Seoul-based Glenwood Private Equity for…
The government has started interministerial discussions on the upcoming Insolvency and Bankruptcy (IBC) amendment Bill, which proposes an overhaul of the law, senior officials told Business Standard. The Bill proposes a separate framework for real estate insolvency with certain exemptions. The draft Bill has also inserted an enabling clause to allow the government to increase…
A Co Roscommon man has had 1.1m debts written off for 857 under a personal insolvency arrangement approved by the High Court. Fergal Shine will be left with his family home at Waterville, Bealnamulla, Athlone, Co Roscommon currently valued at some 245,000 with an outstanding mortgage balance of some 362,000. Judgment mortgages obtained by some…
Credit: Adobe Derek Webb, Founder | Campaign for Fairer Gambling Founder of the Campaign for Fairer Gambling, Derek Webb, makes the case for urgent betting reform in British horseracing. My initial Campaign for Fairer Gambling (CFG) focused on British Fixed Odds Betting Terminals (FOBTs), the most addictive form of land-based gambling, introduced illegally by bookmakers,…
Popular US shoe brand Rockport, known for its comfy casual and dress shoes inspired by running shoes, has filed for bankruptcy. Rockport shoes are sold through a number of Australian retailers including The Athletes Foot, Mathers and the department store David Jones. The US-based footwear company will undergoes voluntary restructuring under Chapter 11 bankruptcy. The…
This video can not be played To play this video you need to enable JavaScript in your browser. Some debt management companies are receiving payments for passing clients on to insolvency practitioners, a BBC Disclosure investigation has found. It also found some companies were making money from entering people into the wrong debt solutions and…