SALESFORCES IRISH ARM SEES PROFITS SURGE 1,200% – The Irish Times reports turnover and profit at the Irish arm of Salesforce.com, SFDC Ireland, rose significantly in its fiscal year 2016. Latest company accounts show pre-tax profit rose more than 1,200% to just over $12m (11.3m), from a $1.07m (1.01m) loss in 2015. The company said…
Sign up to receive FirstFT by email here Trade war averted. China will offer the Trump administration two quick concessions on finance and beef in a 100-day plan that was probably one of the most concrete outcomes of last weeks meeting between Xi Jinping and Donald Trump. Larry Summers argues that the US must work to…
Companies in the UK have used a controversial insolvency procedure to offload £3.8bn of pension liabilities, often as part of a sale to existing directors or owners, a Financial Times investigation has found. Roughly 17 per cent of the 868 schemes managed by the Pension Protection Fund, a lifeboat of last resort for the retirement…
Monday, 10 April 2017 | Rajesh Kumar | New Delhi A candidate willing to contest polls in future will have to mandatorily declare whether s/he is holding any office of profit under the Central Government or State Governments, whether s/he has been disqualified under office of profit by the President of India, whether s/he was…
The Liberal party has narrowly claimed victory in its NSW heartland despite suffering whopping swings against it in this weekend’s by-elections. As predicted, counting went down to the wire on Saturday after voters took to the polls to replace outgoing MPs in the seats of Manly, North Shore and Gosford. Former Paralympian Liesl Tesch increased…
Nick Griffin, the leader of the British National party, has been declared bankrupt but confirmed he will stand again to be an MEP in this year’s European parliament elections. The far-right politician was named on a list published by the Insolvency Service after being declared bankrupt at Welshpool and Newtown county court on Thursday. On…
Four members of reggae veterans go bust after band’s management company goes under UB40 have been declared bankrupt. Four members of the reggae veterans Brian Travers, Jimmy Brown, Terence Oswald and Norman Hassan were revealed to have gone bust by a judge at Birmingham County Court. The case follows the failure of the bands record…
With the government recently notifying the cross-border insolvency provisions under the insolvency and bankruptcy law, claims of foreign creditors, as well as those of Indian creditors on foreign assets of the company going insolvent, could be satisfied by courts. However, experts believe that notifying the rules is not enough and New Delhi…
Many different types of insolvency proceedings exist, including receivership, protection under the Companies Creditors Arrangement Act (CCAA), and bankruptcy. But, what are they and how are they different? According to Jeffrey Carhart, partner at the law firm Miller Thomson, perhaps the simplest way to understand the differences is to think about who is in control…
Back in April 2016, the federal government proposed amendments to bankruptcy and corporate insolvency laws under its National Innovation and Science Agenda. The government has sat on the proposed amendments for some time now, so it came as a bit of a surprise when a legislation Exposure Draft dealing with safe harbour positions for insolvent…