Data from the Insolvency Service indicates a 2.2% increase in business insolvencies in the third quarter, following a decline in the previous quarter. An estimated 3,633 firms entered insolvency in the third quarter of 2016. More than 600 businesses were subject to compulsory liquidation over the period, up 3.5% on the previous quarter. There were…
ULFT, the Netherlands Dutch bike maker Multicycle has been declared bankrupt by the Court in Zutphen. The bankruptcy concerns Multicycle Inventures Group BV and the four subsidiaries of that holding company. It means that the 65 employees of Multicycle lose their jobs. Multicycle has been declared bankrupt. Photo Multicycle The law firm JPR lawyers in…
ROBYN EDIE/FAIRFAX NZ Jubilee Budget Advisory Service manager Sharon Soper said some clients also felt better for paying some of their debts rather than wiping them Fewer Southlanders are becoming insolvent and those who do are turning to payment plans to work their way out of debt. Information from the New Zealand Insolvency and Trustee…
Davies Chipinda Correspondent In a bid to improve the business environment and attract both domestic and foreign investment, President Mugabe last year proposed a Ten Point Plan meant to maintain economic growth, in particular the creation of jobs.Pursuant to this, a steering committee was constituted in September 2015 to lead an accelerated reform effort through a…
By Sophie Kinoti For Citizen Digital Published on 14 November 2016 East African Portland Cement (EAPCC) has set out to stamp out corruption from its operations to boost profitability. This comes in the wake of the cement maker dropping into a negative equity position with its liabilities exceeding the value of its assets. Also Read:…
Shevchenkivsky District Court of Kyiv has seized the property of Viktor Polishchuk the Gulliver shopping center, as part of the inquiry into the case on embezzlements in Bank Mykhailivsky, Ukraines Prosecutor General Yuriy Lutsenko has said. During the investigation of embezzlements within Bank Mykhailivsky, they established that the bank is owned by Ekosipan LLC, 92.5 percent…
Fripur plant. (Photo: Fripur) Fripurs ex-employees request nullity of insolvency proceedings URUGUAY Monday, November 14, 2016, 23:50 (GMT + 9) Fishing firm Fripurs former workers presented a note at a Creditors Meeting Court in which they claim the…
BHS CHIEF Former racing driver was probed by MPs over collapse of BHS DOMINIC Chappell famously purchased department store BHS for £1 in 2015 but who is the former bankrupt who was in charge when the store disappeared from high streets. The 49-year-old former racing driver has been probed by committees of MPs over the collapse of BHS…
US online retailer Nasty Gal said it will file for bankruptcy protection just hours after founder and high profile entrepreneur Sophia Amoruso addressed a packed auditorium in Melbourne to share the secrets to her businesss success. On Thursday Recode reported the $US100 million ($131 million) retailer was preparing to file for Chapter 11 bankruptcy, the…
More than 150 unsecured creditors of former senator Bob Day’s failed building company in South Australia will not be paid the millions of dollars they are owed. These 157 creditors are owed $4.9 million by Homestead Homes and they include subcontractors as well as customers who paid deposits on homes that remain unfinished. “It owes…