KPMG Baltics, the administrator of the to-be-liquidated Latvijas Krajbanka, recovered EUR 683,500 in May 2016, which is twice as much a month before, informs LETA, according to a report published in the official gazette Latvijas Vestnesis. In May 2016, EUR 682,100 were recovered from the loans made by the bank and EUR 1,400 were recovered by selling…
Guvera CEO Darren Herft. David Rowe The 3000 shareholders in music streaming group Guvera are learning the hard way the enormous discretionary powers that rest in the hands of the ASX. When the ASX refused Guvera admission to the exchange last week it closed off an important avenue for raising capital. That was a permanent closing…
By Associated Press Published: 22:40 EST, 14 June 2016 | Updated: 22:40 EST, 14 June 2016 BUCHAREST, Romania (AP) Three-time Romanian champion Rapid Bucharest has been declared bankrupt by a Romanian court. The club, which has debts of 4 million euros ($4.48 million), filed for insolvency in 2012. Half of the debts are unpaid taxes.…
Denmarks financial regulator says it wont abide by a key principle in Europes Bank Recovery and Resolution Directive as the nation carves out its own vision for how to tackle insolvencies. While the BRRD was formulated with a view to letting smaller banks fail if they get into trouble, Denmark says it wont allow that…
LAST year when I asked NAB Special Banking Services head Geoff Green why the bank had assured me it did not recommend business advisor Mawson to the struggling Walton Construction when emails clearly showed me it had, he answered a mistake had been made. It had also been a mistake the bank failed for five…
The Bucharest Court has postponed the exit from insolvency procedures of Hidroelectrica to June 21. The decision was postponed numerous times already, since the energy supplier entered insolvency in February 2014 for the second time. Previously, the company was placed under judicial reorganization procedures between June 2012 June 2013. The court was supposed to rule…
Bucharest Court of Justice postponed for June 21, the exit from the insolvency process of energy company Hidroelectrica, according to sources from energy sector quoted by the national newswire Agerpres. 2016-06-16 15:35:20 The company was declared insolvent in February 2014, for the second time, the first time being between June 2012-June 2013. The major measure…
WENN Sir Philip Green apologised to the staff of collapsed British Home Stores The combative former BHS owner also admitted selling the chain to the wrong guy as he was grilled by MPs at Westminster for nearly six hours. At one point he threatened to walk out in protest at what he claimed was a…
Agriculture and animal husbandry, industry (production) and real estate are the main fields affected by insolvency in the first half of 2016, according to an analysis by Casa de Insolventa Transilvania (CITR) on companies of impact in the economy (companies with fixed assets exceeding EUR 1 million). In the same period of 2015 the main…
THE maker of a child sling described as the Mercedes of Baby Carriers has gone into voluntary administration due to mounting debts. Byron Bay based Hug-a-Bub, which makes baby carriers, slings and wraps was forced to call in administrators on Monday after it was declared insolvent. The company was established 15 years ago by mother-of-five…