By NEIL HARTNELL Tribune Business Editor [email protected] The Government and former workers are set to receive just over 10 percent of what they are owed by a Cavalier Construction affiliate, its liquidators have revealed. Andrew Davies and Kendrick Christie, the Crowe Bahamas accountants and partners, affirmed in a recently placed advertisement that Bobcat (Bahamas) preferred creditors are…
CNN did not report that Cash App, a digital mobile payment service, declared bankruptcy in September 2023, contrary to social media posts shared online. A post on Facebook published on Sept. 7, 2023 reads, Man CNN just said Cash App went bankrupt and any funds you had in your account would have to be awarded…
Elaine Wilcox Owner-managed businesses often face a conundrum when looking ahead to retirement, especially around how to release any value that is held within the business. Some may be family businesses, where the second or even third generation will take over the reins and the founder will be able to step aside. However, for owners…
At least one lessor has rejected a bid by SpiceJet (SG, Delhi International) to settle its debts by issuing shares in lieu. India’s Economic Times reports that Aircastle has said no to a debt-for-equity swap offer from the beleaguered airline. This comes as a Delhi court threatened to jail SpiceJet’s chairman earlier this week over…
Coffee Day Enterprises Ltd, which operates the Cafe Coffee Day outlets, said that the Chennai bench of the National Company Law Appellate Tribunal has terminated the Corporate Insolvency Resolution Process (CIRP) against the company and set aside the NCLT order. In August, the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) had stayed…
Photo credit: Barbara Olsen/Pexels/Studio040 After nearly 100 years, the Eindhoven Manage (riding school) on Roostenlaan has been declared bankrupt. The organisation announces this. The riding school is owned by Van de Pol. A trustee is looking into whether a restart is possible. We are terribly sorry that after 96 years the riding school will come…
The charity behind National Debtline has today responded to the Governments decision to row back on plans to bring insolvency firms under independent regulation, calling the decision disappointing. The Money Advice Trust, which runs the free National Debtline and Business Debtline advice services, warns that todays changes do not go far enough to protect…
Larisa Markus was president and founder of Vneshprombank, one of Russias largest banks, which was declared insolvent in 2016. In May 2017 she was convicted, in Russia, of embezzling $2 billion from the bank. In 2019 Rozhkovappointed to preside over the liquidation of Markuss assetsas Markuss Foreign Representative brought a Chapter 15 proceeding to locate…
Larisa Markus was president and founder of Vneshprombank, one of Russias largest banks, which was declared insolvent in 2016. In May 2017 she was convicted, in Russia, of embezzling $2 billion from the bank. In 2019 Rozhkovappointed to preside over the liquidation of Markuss assetsas Markuss Foreign Representative brought a Chapter 15 proceeding to locate…
Larisa Markus was president and founder of Vneshprombank, one of Russias largest banks, which was declared insolvent in 2016. In May 2017 she was convicted, in Russia, of embezzling $2 billion from the bank. In 2019 Rozhkovappointed to preside over the liquidation of Markuss assetsas Markuss Foreign Representative brought a Chapter 15 proceeding to locate…