A deadline for bids for the stricken British Steel has been pushed back to the end of the month to allow prospective buyers more time to prepare offers, according to people briefed on the matter. The official receiver overseeing the liquidation of the UKs second-largest steelmaker had originally called for bids to be made by…
A US bankruptcy court has given former Heinz chief executive, Sir Anthony OReilly, and his former personal nurse, Sabina Vidunas, until next Tuesday June 11th to come up with a way forward through mediation, in proceedings taken by Sir Anthony to have his Bahamas insolvency recognised in the US. Sir Anthony, who was declared bankrupt…
State-owned lender Bank of Baroda (BoB) has declared Vijay Goverdhandas Kalantri, chairman and managing director of Dighi Port, as a “wilful defaulter” for not repaying his loans, suggested media report. The leading industrialist Vijay Goverdhandas Kalantri and his son Vishal Kalantri, director of Dighi Port, owe nearly Rs 3,334 crore to a consortium of 16…
Israel Postal Company branch in Jerusalem 390 (R). (photo credit: Ronen Zvulun / Reuters) X Dear Reader, As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways…
Blockport, a cryptocurrency exchange based in the Netherlands, has been been forced to close due to lack of operating capital, but its vowed to return. According to a filingreported by The Next Web, the official operating entity, Blockport BV, was declared bankrupt in a court in Amsterdam on May 21. The platform ceased services at…
An Amsterdam-based cryptocurrency exchange is facing an uncertain future. Blockport has declared bankruptcy after its security token offering (STO) failed to meet its minimum expectations last month. Blockports STO failed to reach its soft cap of 1 million ($1.13 million) in May. Shortly after, the company filed for and was declared bankrupt, according to recently…
The gold mine at the centre of WAs latest corporate collapse will remain open while insolvency experts assess what can be salvaged for creditors owed more than $100 million. Administrators from FTI Consulting were called into Gascoyne Resources by its directors on Sunday, only weeks after raising $24.5 million from shareholders and creditors through brokers…
AsianScientist (Jun. 3, 2019) By Jeremy Chan Amidst uncertainties in the global economy whether they be caused by international tensions or digital disruption companies may suddenly find themselves facing financial hardship. Should debt exceed income for extended periods of time, the likelihood of defaulting on payments to creditors rises, and the shadow of insolvency looms…
The fourth member of the group being pursued for damages by the Omagh bomb victims has been declared bankrupt. The 1998 Real IRA attack killed 29 people including a mother nine months pregnant with twins. Over 200 people were injured. Court A spokesman for the Belfast High Court confirmed that Seamus Daly was adjudged…
A vulture fund objected to a financial rescue plan for a heavily indebted Co Offaly firefighter, arguing that he could pay more off his mortgage from his familys child benefits. The High Court overruled the objections of Promontoria, owned by US private equity giant Cerberus, on Monday, approving a 75,000 write-down on the debts of…