Russia’s central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount. Russia’s 67th lender by assets, Intercommerz had failed to adequately assess risks despite the poor quality of its assets, the central bank said. “At the same time…
World Bulletin / News Desk Russia’s central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount. Russia’s 67th lender by assets, Intercommerz had failed to adequately assess risks despite the poor quality of its assets, the central bank said.…
The agriculture companies InterAgro SRL Zimnicea and InterAgro SA, owned by the Romanian billionaire Ioan Niculae, entered insolvency. The Teleorman Court admitted the demand of several creditors for the insolvency of the two companies run by Ioan Niculae. The company InterAgro SRL controls the largest part of Niculaes businesses in agriculture and industry…
Nant whisky distillery at Bothwell, Tasmania An investor in Nant, IT consultant David Kavanagh, says Nant Distillery refused to allow him to take his whisky out of its investment scheme to another bond store, even though he had applied to the Australian Tax Office for permission and had organised placement in another secure facility. Mr Kavanagh said…
YOURSAY He claims to have resolved his bankruptcy, but was he discharged? Ramesh Rao to sue Sarawak Report over ‘bankrupt’ label Victor Johan: Ramesh Rao, you had previously in July 2015 admitted to being a bankrupt, and now you have travelled to a foreign land and claimed that your bankruptcy problem has been “resolved”. To…
In Better Bankers, Better Banks: Promoting Good Business through Contractual Commitment, Claire A. Hill and Richard W. Painter provide an account of the changes to banking that encouraged the risk-taking that became a factor in the global financial crisis, and propose a solution: covenant banking. The authors suggestion of binding bankers to contracts that encourage accountability…
Better Bankers, Better Banks Book Review Better Bankers, Better Banks: Promoting Good Business through Contractual Commitment. Claire A. Hill and Richard W. Painter. University of Chicago Press. 2015. History is marked by many turning points which we may call critical junctures. The global financial crisis has been one example. The crisis underscored various deficiencies in…
Charles Dickens was a great supporter of the Great Ormond Street Childrens Hospital in London. In our present era of public service announcements, telethons, fun-runs, cyber-fundraising events and ice bucket challenges, it seems as if every disease or medical cause has a celebrity spokesman drumming up donations and interest. Yet such effective fundraising practices are…
A small credit union that served members of Christ the King Baptist Church in Milwaukee was declared insolvent and shut down by a state regulator Friday. CTK Credit Union, 7750 N. 60th St., was closed by the Wisconsin Department of Financial Institutions, which appointed the National Credit Union Administration, or NCUA, to liquidate it.…
My husbands business is successful, but I have never really looked at how our personal assets may be exposed if it ever goes belly up. We have a £2m home, which I co-own. So I would like to find out how best we can protect the house and my own half-share of the house against…