Struggling companies should be given up to six weeks free from creditor pressure to plan a recovery or rescue, according to the North East chair of insolvency trade body R3. In a week when two major UK retail names filed for administration, Neil Harrold, who is also a partner with Hay & Kilner Solicitors, has…
By Associated Press Published: 22:35 EST, 27 April 2016 | Updated: 22:35 EST, 27 April 2016 BUCHAREST, Romania (AP) Prosecutors in Romania say they have questioned a media owner on suspicion of tax evasion worth 8 million ($9 million). Prosecutors took Cristian Burci, owner of Prima TV and the daily Adevarul, for questioning Wednesday after…
Aberdeen firm SeaEnergy in insolvency talks as shares are suspended By Douglas Fraser Business/economy editor, Scotland 26 April 2016 From the section Scotland business Image copyright Google Aberdeen-based firm SeaEnergy has announced it is in talks with insolvency advisers, and has had trading in its shares suspended. The offshore energy company has tried to find…
The shareholders and directors of D.A. Holdings Limited, the owners of the Daniels shopping complex in Hamrun, have said they will appeal the court order that has declared the company insolvent… Read the full article at: http://www.maltatoday.com.mt/business/business_news/64479/hamrun_shopping_mall_owners_to_appeal_insolvency_order
The shareholders and directors of Daniels Shopping Complex have appealed a court order which declared the company insolvent, claiming a breach of their right to a fair hearing and their right not to be discriminated against. “It results from the acts of the case instituted by Panta Contracting Limited that the shareholders, the directors and…
Daniels shopping complex in Hamrun is still open to the public after a court case ruled it as insolvent and ordered it to be closed down. In a statement, signed by lawyer Simon Micallef Stafrace, the Shareholders and the Directors of D.A. Holdings Limited said that they have appealed from the court…
NWR’s bondholders have refused to extend the covenant waiver further and have declared the group in default of its debt obligations. By Robert Anderson in Prague April 25, 2016 Bondholders and majority owners of London-listed New World Resources (NWR) declared the Czech coalminer in breach of its debt convenants on April 25… Read the full article…
The streaming wars have claimed their first victim, with homegrown Quickflix going into voluntary administration. The Perth-based streaming service, founded 12 years ago by CEO Stephen Langford has today appointed Ferrier Hodgson as administrators and blamed Channel 9 and Fairfax for its demise. Despite Quickflix being first to the streaming market and holding a leadership…
Share Tweet Share Share Email Every company today is looking for a way of avoiding being bankrupt because this affects their services beyond their expectations. Bankruptcy or insolvency is a situation at which you will not be able to settle those that you owe. Insolvency does not start one day so this means that the…
A study by CITR shows that over 50 percent of companies of impact in the Romanian economy (having assets exceeding EUR 1 million) are in difficulty. Although the number of insolvency cases has declined in the past three years, over 50 percent of companies falling into insolvency reported a double loss and an increase in…