BY MELISHA YAFOI Thousands of Police and State Savings and Loan Society Limited members have been left high and dry after the society was declared insolvent by the Bank of Papua New Guinea. The society has been declared insolvent since May 2017 following a notice by the Central Bank of PNG advising members, service providers…
CAPE TOWN – How the downgrade of South African credit ratings will affect individual investors depends very much on their personal circumstances. Nevertheless, we can make some broad generalisations, and you can decide whether they apply to you. Credit ratings can have implications for all South Africans insofar as they affect the rand exchange rate and…
Clujana, one of the oldest shoe factories in Romania, went into insolvency, according to a decision of the Cluj Specialized Court, cited by local Mediafax. The company has difficulties in repaying over RON 13 million (EUR 2.8 million) worth of historical debts to the tax authority ANAF, which was accumulated during 2013-2014. However, the factory…
Serie C side Vicenza have been declared bankrupt by a tribunal this afternoon, bringing 115 years of history to an end. The Lanerossis players havent been paid since September, and have taken strike action in recent weeks. Today a tribunal formally declared the club bankrupt, so control of the club will pass to a bankruptcy…
11:47, 18 January 2018 9 Ukraine’s Deposit Guarantee Fund in 2017 paid depositors of insolvent banks UAH 7.058 billion (US$246.2 million), which was by 50% down from UAH 14.936 billion ($521 million) in 2016, according to the Fund’s press service. Photo from UNIAN At the same time, the Fund in 2017 received UAH 3.315 billion…
Travel and Tourism Agents are extremely concerned with the current situation at Air Malta especially in the light of recent statements reported in the media regarding the airline’s future related to the stalemate in ongoing the dispute with the pilots’ union. This statement was issued before news of an agreement between the…
Josephine Cumbo, Pensions Correspondent January 18, 2018 Carillions 27,500 member pension scheme was placed on a risk list by UK authorities in autumn last year, as the troubled construction company was still being awarded government contracts. Carillion entered insolvency on Monday with the Pension Protection Fund, the industry scheme that pays compensation to pension plan…
Last assets of Masakeni to be auctioned today It is the end of the road for a Port Elizabeth construction company, with its last remaining assets going on auction today. Masakeni Construction, previously based in Markman, was declared insolvent in May and had to let go 300 employees in July. The companys former director,…
Interest rates have been low for so long that we forget the good things happening when they rise. In a massively indebted place like Canada, rising rates can fairly be described as trouble waiting to happen for both households and governments. But higher rates are caused by positive economic developments like a firming job market…
Bonus payments to directors and former executives of collapsed construction company Carillion have been stopped and an agreement has been reached on safeguarding thousands of private sector jobs, the UK governments Insolvency Service said on Wednesday. Any bonus payment to directors, beyond the liquidation date, have been stopped and this includes the severance payments which…