Troubled Spanish renewable energy group Abengoa may already have the support of around 40 per cent of its creditors for a restructuring proposal to avoid what could be the biggest bankruptcy in Spanish history, but ratings agency Moodys is maintaining its negative outlook, pointing out that a deadline by which it needs to strike an…
March 24, 2016 1:05 p.m. ET FRANKFURTGerman fashion company Steilmann SE jolted investors Thursday by saying it would file for insolvency less than five months after going public, a move that raises questions about its bank advisers and auditor. The clothing maker, which focuses on women over 45, said late Wednesday recent developments and failed restructuring negotiations led to…
BERLIN/FRANKFURT, March 24 The DAX top-30 index looked set to open 0.6 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0716 GMT. The following are some of the factors that may move German stocks: VOLKSWAGEN Indicated 0.6 percent lower Two sources told Reuters that Volkswagen was not expected to…
March 23 Steilmann SE * in course of its current business developments Steilmann se is illiquid * adhoc: steilmann se: insolvency * management board will now immediately file for insolvency Further company coverage: (Frankfurt Newsroom) Read the full article at: http://in.reuters.com/article/idINASM0002R6
Published 23/03/2016 BHS wants to ease the pressure on the business by asking landlords to slash the rents by 50% or 75% on 47 stores Embattled retailer BHS has been pulled back from the brink after creditors approved controversial plans to turn the business around. The department store chain was thrown a lifeline when creditors…
Social Security as it presently exists is on an unsustainable path The program is on track to burn through its remaining cash reserves by 2035. The retirement of baby boomers is pushing the worker-to-beneficiary ratio ever lower. Meanwhile, retirees themselves are living longer than ever before. In spite of this looming instability, U.S. non-retirees are…
Published 23/03/2016 BHS wants to ease the pressure on the business by asking landlords to slash the rents by 50% or 75% on 47 stores Embattled retailer BHS has been pulled back from the brink after creditors approved controversial plans to turn the business around. The department store chain was thrown a lifeline when creditors…
— Westpac has renewed a A$250 million non-recourse senior loan facility with debt solutions company FSA Group until October 2017. An institutional fund manager chipped in a $20 million mezzanine finance line . The mezzanine finance has also been renewed. FSA is in the business of assisting debtors enter into payment arrangements with their creditors,…
Steilmann SE * in course of its current business developments Steilmann se is illiquid * adhoc: steilmann se: insolvency * management board will now immediately file for insolvency Further company coverage: (Frankfurt Newsroom) Read the full article at: http://www.reuters.com/article/idUSASM0002R6
15:46 23/03/2016 MOSCOW, March 23 (RAPSI) – Legislators from the Kamchatka Region have submitted a bill to the State Duma, that would prohibit individuals who have been declared bankrupt from holding judicial positions, taking service at law enforcement agencies or prosecutor offices, according to the database of Russias lower house of parliament. The amendments are…