Category Archives: Bankruptcy

Latvenergo not to file for insolvency of KVV Liepajas Metalurgs – Latvian econmin – Baltic Times

The Latvian state-owned power utility Latvenergo is not going to file for insolvency of financially troubled KVV Liepajas Metalurgs steel maker, Latvian Economics Minister Arvils Aseradens said, answering questions from lawmakers about the situation with KVV Liepajas Metalurgs. Although the government representatives said earlier that they hoped one of the unsecured creditors would file an insolvency claim…

Decision on Romanian Hidroelectrica’s insolvency, postponed again – Romania-Insider.com

Romanian largest power producer Hidroelectrica recorded a turnover of EUR 286 million in the first five months of the year, down 18% year-on-year, and a net profit of over EUR 124 million, down 12% year-on-year. The Bucharest Court should have made a decision yesterday on the companys exit from insolvency, but the deadline was postponed…

Philip Green went ‘absolutely insane’ and ‘blocked’ the sale of BHS to Mike Ashley – Daily Mail

Racing driver Dominic Chappell bought BHS for £1 from Sir Philip Green  But retailer collapsed and he claims Sir Philip could have helped save it He says Green blocked the sale of BHS to Sports Direct owner Mike Ashley He told MPs: ‘Sir Philip Green was screaming down the phone, saying he didnt want to…

Insolvency reform ignites debate among lawyers – Lawyers Weekly

A number of lawyers have called for reform to the insolvency regime in Australia, but the most desirable model has divided opinion. The Australian insolvency regime has come under close government scrutiny in recent years, with the Productivity Commission delivering its Business Set, Transfer and Closure report in December 2015 and then the commonwealth government…

Ex-BHS owner Dominic Chappell was ‘Premier League liar’ who ‘had his fingers in the till’ – Daily Mail

Former CEO Darren Topp tells MPs that Dominic Chappell twice threatened to kill him He says he feared for his life after challenging Chappell over missing £1.5m Chappell ‘duped’ BHS by funneling £7m from office sales to his private firm He bought BHS for £1 from Sir Philip Green but retailer collapsed last week But…

Czech industry minister says NWR’s mining arm needs $42 mln loan to keep operating – Reuters

Czech coal miner OKD, the insolvent unit of New World Resources (NWR) , urgently needs a state loan of up to 1 billion crowns ($42.1 million) to keep operating, Industry Minister Jan Mladek said on Wednesday. Mladek, in a statement, said that a state-backed loan was the only option for OKD to secure financing to…

Is your transportation company going bankrupt? Here’s what you need to know if it is. – Truck News (blog)

To find out, I spoke with Jeffrey Carhart, partner of the law firm Miller Thomson. He is a respected expert in the area of corporate bankruptcy and insolvency. According to Carhart, perhaps the simplest way to consider the differences is to think about who is in control of the insolvent company? Generally speaking, the Companies…

Regulators Fear $1 Billion Coal Cleanup Bill – New York Times

But in the bankruptcy cases, West Virginia has been pressuring the industrys lenders to share more of the responsibility for mine reclamation and water remediation, arguing that they exert great influence, if not outright control in some cases, over the bankrupt mining companies. Still, figuring out who holds the industrys debt can involve a cat-and-mouse…

Gregory Silveira sentenced in money-laundering case; gambler tied to Phil Mickelson – ESPN

4:50 PM ET Mike FishESPN Senior Writer Close Investigative reporter for ESPN.com 10 years at The Atlanta Journal-Constitution Twice nominated for a Pulitzer Prize LOS ANGELES — For the second time in as many weeks, Phil Mickelson‘s connection to sports gambling surfaced in a federal criminal proceeding, this time on Monday, when a California man…

‘ZIFA NAME CHANGE FLAWED’ – Chronicle

Philip Chiyangwa Dingilizwe Ntuli Sports EditorLEGAL experts say the local football leadership has plunged itself into a seemingly intractable quagmire over the rushed decision to announce the dissolution of Zifa and formation of the National Football Association of Zimbabwe (NFAZ) without following proper legal channels. An extraordinary congress convened at Zifa Village on Saturday resolved to…