By JAINDI KISEROMore by this Author I am well aware that the obsession of the moment in this country right now is politics. But I have decided to return to the issue of the government-backed bailout of Uchumi Supermarkets Ltd. I am compelled to do so in reaction to comments and inquiries by suppliers and…
Related Story: Alleged mastermind behind tax-evasion scheme ordered to pay $8.5m Related Story: ‘Too many to count’: Controversial finance adviser’s alleged crimes laid bare An elderly Queensland couple face losing their home and business after falling victim to the alleged mastermind of a massive tax-evasion scheme, in a case…
Hurrah for the Alexandra Blossom Festival. Every year the colourful pink and white blossom adorn the fruit trees of the district, heralding longer days, warmer times and bounty on the branches. Every year, too, for 61 occasions, Alexandra has celebrated its blossom festival. Last year, when the 60th was marked, bumper crowds turned out and…
Eyeing Air Berlin, Lufthansa board backs extra investment for Eurowings BERLIN (Reuters) – Lufthansa’s <LHAG.DE> supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlin’s creditors have selected Lufthansa and British budget…
BERLIN (Reuters) – Lufthansas (LHAG.DE) supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlins creditors have selected Lufthansa and British budget carrier easyJet (EZJ.L) to negotiate over a carve-up of its…
MUMBAI: The National Company Law Tribunal (NCLT) has adjourned the hearing of Ericsson’s petition to admit the insolvency case against Reliance Communications (RCom) to October 6 . Rcom’s senior counsel Ravi Kadam told the bench comprising of BSV Prakash Kumar and V Nallasenapathy that if both parties do not reach a settlement by the allotted…
Bulat Chagaev was the owner of Neuchâtel Xamax FC from May 2011 to January 2012. (Keystone) A Neuchâtel court has confirmed the jail term for fraud and other charges handed down to Bulat Chagaev, the former owner of Swiss football club FC Neuchâtel Xamax. The cantonal court on Tuesday confirmed Chagaevs three-year prison sentence suspended…
September 26 2017 – 1:13PM 33 reading now Former One Nation senator Rod Culleton has been warned by a Perth magistrate to stay on track while representing himself against a stealing charge. Mr Culleton allegedly prevented bank-appointed receivers from leaving his friend’s farm, where they had begun foreclosure proceedings, by surrounding their $27,000 hire car…
By Martin North, cross-posted from the Digital Finance Analytics Blog: New data from the Australian Financial Security Authority shows that in 201617, the most common non-business related causes of debtors entering personal insolvencies were: excessive use of credit (8,870 debtors) unemployment or loss of income (8,035 debtors) domestic discord or relationship breakdown (3,222 debtors). However, employment related issues figured…
The banking industry has sought exemption from shareholder approval for change in capital structure or sale of assets or company during insolvency proceedings. Indian Banks’ Association (IBA), the umbrella body of banks, has sought the intervention of Insolvency & Bankruptcy Board of India (IBBI) to address a number of issues that may crop up while…