Short-seller Jim Chanos said an announced $2.6 billion merger with SolarCity Corp. will make Tesla Motors Inc. a “walking insolvency.” The synergies are questionable at best,” Chanos, who founded hedge fund firm Kynikos Associates, said at the CNBC Institutional Investor Delivering Alpha Conference on Tuesday in New York. He estimated that the combined company, which will…
left to right CVR Global managing partner Richard Toone, with Southampton partners Simon Lowes and Matthew Fox INSOLVENCY and restructuring firm, CVR Global, has opened a new office in Southampton with a new senior partner appointment. Matthew Fox, partner at CVR Global, said: Were delighted to have opened the new office and to welcome Simon [Lowes]…
The Australian economy is facing headwinds for the remainder of 2016 and into 2017 following the decline in commodity prices. Local bankruptcies are expected to rise by 8%, according to Atradius forecasting, so it makes good business sense to look for ways to reduce risk exposure to let the company trade confidently. Australian businesses must start…
Luke Palladino, a star chef in and around Atlantic City for almost 15 years, has declared bankruptcy and closed his latest South Jersey restaurant. An answering machine was still working and giving out restaurant details Monday at Luke Palladino Seasonal Italian Restaurant, in Linwoods Central Square shopping center. But the system wasnt taking messages and…
D-Day for firms covered by insolvent Enterprise Insurance 22 August 2016
Creditors who funded the United States shale boom are not in good shape to recover their invested funds, according to Moodys Investors Service. Banks and private lenders have only gotten back $1 of every $5 they invested in companies that declared bankrupt in 2015, the credit rating agency reports, which analyzed 15 bankrupted energy companies…
A British absurdist artist is stuck off the coast of Japan on board a Hanjin Shipping freight ship after the company declared bankruptcy. 25-year-old Rebecca Moss is onboard the vessel as part of the 23 Days at Sea project a residency program organized by a Vancouver art gallery that puts artists on cargo ships sailing from…
MARTY SHARPE Frimley Estate, on the northern edge of Hastings. The man behind the development, Nick Duff, has declared himself bankrupt. The developer behind an unsuccessful property development in Hastings has declared himself bankrupt with his company still owing nearly $3million. Nick Duff, also known as Stephen Duff, applied to make himself bankrupt on August 30.…
Christopher Heaps’ business Kiwi Bullion is being investigated by police in Christchurch. Fraud accused Christopher Heaps has been in business for little over a decade but already faces a second stint as a bankrupt. The 28-year-old real estate agent and precious metals trader recently skipped the country leaving behind a trail of unhappy customers. Police are…
Insolvency expert, self-help author uses Bandido bikie enforcer to settle debts exit Doug Constable claims to be an “insolvency expert”, who helps ailing businesses stave off creditors and avoid bankruptcy. The 66-year-old businessman, who wrote a book called How to Not Pay Your Debts, says he is “passionate about helping people draw a line in…