Amendments to Singapore’s corporate debt restructuring legislation were tabled in Parliament yesterday, as the Government pushes to update the insolvency framework to help a growing number of ailing companies work out their debts in a weak economic climate. It is also part of efforts to position Singapore as a debt restructuring hub and augment its…
After eight years of legal struggle among state regulators, investors and policyholders, Commonwealth Court Judge Hannah Leavitt on Wednesday signed off on a plan to liquidate Penn Treaty Network America Insurance Co. and its affiliate American Network Insurance Co. of Allentown. That decision leaves solvent insurers, their owners and customers to pick up the cost…
Gomer Press staff ‘leave over restructuring process’ 1 March 2017 From the section Mid Wales Eight members of staff have left Gomer Press because of alleged discontent over a restructuring process, BBC Wales understands. A source said employees in the publishing department were told they must apply for new posts as their current roles will…
It is difficult to see the political or economic landscape changing in the short to medium term in order to alleviate the increasing cost pressures that restaurants now face. However, if advisers can be approached early enough, then careful pre-planning and an understanding of some of the legal and commercial complexities of this particular business…
NORTHERN Rivers residents are starting to pay off their debts as new figures revealed less people declared bankruptcy in 2016. The latest figures from the Australian Financial Services Authority showed 35 bankrupt debtors including nine business-related and 26 non-business related insolvencies in the December quarter. Over the whole year 158 people declared bankruptcy compared with…
NORTHERN Rivers residents are starting to pay off their debts as new figures revealed less people declared bankruptcy in 2016. The latest figures from the Australian Financial Services Authority showed 35 bankrupt debtors including nine business-related and 26 non-business related insolvencies in the December quarter. Over the whole year 158 people declared bankruptcy compared with…
Readers’ travel tips: Travel insurance and insolvency Say goodbye to your $32,000 if you haven’t taken out the right travel insurance. Photo: iStock Cape Town cruise cancellation: Be sure your travel insurance covers insolvency. Photo: iStock exit TIP OF THE WEEK SINKING FEELING I agree with “Bitter Pills” (Tip-o-meter, January) regarding travel insurance and have…
There have been some “proper tulips” among the last 17 Transport Ministers but none of them brought Bus Éireann to the brink of insolvency, an Oireachtas Committee has heard. Transport Minister Shane Ross has repeated that it would be “absolutely wrong” of him to intervene in the “nitty gritty” of the Bus Éireann dispute, writes…
Billionaires ‘launched a campaign of abuse against Mark Holyoake and family’ Alleged threats began when their luxury property business deal turned sour Mr Holyoake’s wife Emma said she feared Christian Candy might ‘get rid’ of her husband She said three other Candy associates including Scot Young ‘died mysteriously’ Allegations are latest to emerge in £132m…
An Abuja company has asked the Federal High Court and the Central Bank of Nigeria (CBN) to wind up Heritage Bank and revoke its operational licence, citing what it called the banks financial insolvency. Geonel Integrated Services Limited, a security services company, said in a petition filed at the Federal High Court that Heritage Bank has been showing signs of distress and insolvency in recent…