Auto insurer Affirmative Insurance Co. was declared insolvent by about $31 million on March 1, 2016 by Acting Illinois Insurance Director Anne Melissa Dowling; a hearing on the complaint for liquidation is set for this Thursday, March 24. Dowling filed with the Illinois Supervising Court a Complaint for Liquidation with a Finding of Insolvency against…
Published 25/03/2016 | 02:30 Owner worried her home will be repossessed. Our property expert advises on the tax implications of renting to a family member and on how a Personal Insolvency Arrangement might help a person in arrears on a buy-to-let property. Share Go To Question: We are selling our large family home and will…
A NURSERY school owner from Prestwich has been banned from running a company for six years after failing to pay staff the minimum wage. Joanne Ward, aged 43, underpaid 12 employees at her nursery, Cygnets to Swans in Whittaker Lane, dating back to April 2010 and totalling £11,789. The amounts underpaid to each employee range…
Troubled Spanish renewable energy group Abengoa may already have the support of around 40 per cent of its creditors for a restructuring proposal to avoid what could be the biggest bankruptcy in Spanish history, but ratings agency Moodys is maintaining its negative outlook, pointing out that a deadline by which it needs to strike an…
March 24, 2016 1:05 p.m. ET FRANKFURTGerman fashion company Steilmann SE jolted investors Thursday by saying it would file for insolvency less than five months after going public, a move that raises questions about its bank advisers and auditor. The clothing maker, which focuses on women over 45, said late Wednesday recent developments and failed restructuring negotiations led to…
BERLIN/FRANKFURT, March 24 The DAX top-30 index looked set to open 0.6 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0716 GMT. The following are some of the factors that may move German stocks: VOLKSWAGEN Indicated 0.6 percent lower Two sources told Reuters that Volkswagen was not expected to…
March 23 Steilmann SE * in course of its current business developments Steilmann se is illiquid * adhoc: steilmann se: insolvency * management board will now immediately file for insolvency Further company coverage: (Frankfurt Newsroom) Read the full article at: http://in.reuters.com/article/idINASM0002R6
Published 23/03/2016 BHS wants to ease the pressure on the business by asking landlords to slash the rents by 50% or 75% on 47 stores Embattled retailer BHS has been pulled back from the brink after creditors approved controversial plans to turn the business around. The department store chain was thrown a lifeline when creditors…
Social Security as it presently exists is on an unsustainable path The program is on track to burn through its remaining cash reserves by 2035. The retirement of baby boomers is pushing the worker-to-beneficiary ratio ever lower. Meanwhile, retirees themselves are living longer than ever before. In spite of this looming instability, U.S. non-retirees are…
Published 23/03/2016 BHS wants to ease the pressure on the business by asking landlords to slash the rents by 50% or 75% on 47 stores Embattled retailer BHS has been pulled back from the brink after creditors approved controversial plans to turn the business around. The department store chain was thrown a lifeline when creditors…