FC Barcelona | LLUIS GENE/Getty Images FC Barcelona could be declared as bankrupt if they don’t find a way around reducing their wage bill by 190 million euros by the end of next week. AS quote RAC1, who reports that negotiations to lower player and staff salaries began on Friday at Barcelona, with a meeting…
How does anyone end up going bankrupt with debts of over 2.5 billion, never mind if youre the brother of one of the worlds richest men? The answers include some of the usual business explanations; this was all about the risks of bad timing, betting big on commodity prices and signing unlimited personal guarantees. Pramod…
Tax experts have warned that an incoming law which moves HM Revenue & Customs higher up the list of creditors in insolvencies could further damage the economy and cause more companies to go bust. From December 1, the UK tax authority will be ranked higher in the pecking order used to decide which creditors get…
Barcelona could be declared bankrupt if they are unable to reduce their wages bill by 190 million euros by the end of next week, RAC1 reports. Negotiations to lower salaries began on Friday with a meeting between lawyers representing the club and the players. For Bara, it is a race against time. They need to…
For the past several years, data has consistently shown that more and more people are going bankrupt at a young age. Between 2015 and 2019, about 85,000 Malaysians below the age of 25 were declared bankrupt, a Sinar Harian article shows. According to Hijrah Wealth Management founder and consultantRohani Mohd Shahir, the main reason for…
Fewer Tasmanians have become insolvent and more have been paying down debts during the pandemic period, as government support measures temporarily put more money into the pockets of some people. Key points: New Tasmanian personal insolvencies were at a 30-year low for the last financial year A debt collection business is seeing more Tasmanians able…
Ministers have sent in a taskforce to oversee Croydon council after an audit report revealed the Labour-run authority is on the verge of bankruptcy following a string of risky property investments and a failure to keep control of social care budgets. Auditors heavily criticised the south London council for ignoring more than three years of…
A SNOOKER club has been ordered to pay 4,500 to a employee of more than ten years who was made redundant at the start of the Covid-19 lockdown without pay. Clacton Snooker Centre told Zella Davis, 60, they could not afford to pay her and reclaim furlough pay, so had to end her employment. The…
Solicitor General Tushar Mehta, appearing for State Bank of India (SBI), has also said that the issue raised in the writ petitions pending before different high courts is of national importance and does not affect any rights of the petitioners. The Supreme Court on Thursday transferred to itself a batch of writ petitions pending before…
NEW DELHI : The Supreme Court Wednesday said it would pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking transfer of all petitions pending before different high courts challenging the provisions of IBC with regard to personal insolvency. A bench of Justices L N Rao, Hemant Gupta…