(Bloomberg) — Deutsche Boerse AG will remove Wirecard AG from its benchmark DAX index ahead of a regular quarterly reviewfollowing the collapse of the payments company amid allegations of accounting fraud. The decision was taken following consultations with market participants conducted after Wirecard declared insolvency in June. The results favored immediate removal of bankrupt companies…
ANCHORAGE, Alaska (AP) The largest rural airline in Alaska has declared bankruptcy and laid off more than a thousand workers but wants to award $250,000 in bonus money to its chief executive and other employees. Anchorage-based RavnAir Group filed the request Tuesday in Delaware bankruptcy court, arguing that the bonuses are justified because of long…
ANCHORAGE, Alaska (AP) The largest rural airline in Alaska has declared bankruptcy and laid off more than a thousand workers but wants to award $250,000 in bonus money to its chief executive and other employees. Anchorage-based RavnAir Group filed the request Tuesday in Delaware bankruptcy court, arguing that the bonuses are justified because of long…
Advertisement: Airline failures may not be the most cheery of topics; however, looking back at past mistakes does pave the way for the future. Remember all the airlines that didnt make it through the decade? Heres a look back at 10 airlines that collapsed between 2010 and 2020. Which airlines collapsed between 2010 and 2020?…
A RavnAir Group Dash-8 plane sits on the tarmac at Anchorages international airport. (Ravn Alaska) Alaskas largest rural airline has declared bankruptcy, laid off more than 1,000 workers and is selling off its assets. But the company still wants to split $250,000 in bonuses between its highly-paid chief executive and other employees. In a filing…
MORE than two-fifths of debt experts questioned by insolvency and restructuring trade body R3 believe that personal insolvency numbers will increase significantly in the next 12 months. Over eight in ten respondents to an R3 survey of its members who work in personal insolvency said they expected the numbers of cases to increase within the…
A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…
Virgin Atlantics rescue deal is something of a watershed in how companies can escape insolvency. The deal, which will involve Richard Branson and US hedge fund Davidson Kempner Capital Management injecting US$1.6 billion (1.2 billion) into the airline, uses the new restructuring plans made possible by the UK Corporate Insolvency and Governance Act 2020. While…
BELGRADE (Serbia), August 12(SeeNews) – The board of directors of Serbia’sJugoremedija has received three bids for the purchase of the insolvent pharmaceutical company’s assets, local media reported on Wednesday. The bids were placed by Czech Republic-based APS Capital Group’s subsidiary Project One, Turkey’s Birgim, and an unnamed Belgrade-based company,Tanjug news agency quoted the bankruptcy administrator…
A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…