Smaller contractors and building materials companies could face a liquidity crunch if big construction and engineering groups keep delaying payments to suppliers, McGrathNicol has warned. Construction and engineering companies paid suppliers 10.5 days more slowly in 2016-17 than they did a year earlier, reversing the previous trend of paying suppliers faster, according to the insolvency…
Shafin Developments, the property company the brothers established together, went bust in 2012. The singer, faced with a bill of 23m, was declared bankrupt. His brother Finbarr has revealed he was declared bankrupt last Monday to the tune of 15 million. In a column in the Sunday Business Post, the Sligo businessman, who is chair…
Venezuela is likely to be declared as bankrupt nation, which could start a global financial crisis, as the Latin American country has not made any debt payment to many entities including Indian oil and gas major ONGC. The financial crisis would be amounting to USD 60 billion as Venezuela’s President Nicolas Maduro announced last week…
Venezuela is likely to be declared as bankrupt nation, which could start a global financial crisis, as the Latin American country has not made any debt payment to many entities including Indian oil and gas major ONGC. The financial crisis would be amounting to USD 60 billion as Venezuela’s President Nicolas Maduro announced last week…
Photo: AP Mark Karpelès, the former chief of spectacularly failed Japanese Bitcoin exchange Mt. Gox, is on trial in Japan on charges he embezzled millions from the company before its collapse. He, Mt. Gox, and his current company Tibanne (which owns 88 per cent of Mt. Gox) are all bankrupt. Yet Karpelès could still walk…
WITHIN a three-month period, nine Tweed Valley businesses declared they were unable to pay their debts, according to new Australian Financial Security Authority data. It was the third highest number of businesses going bust in any Australian Statistical Geography Standard (ASGS) area in NSW, for the September quarter, excluding Sydney. Gosford had 14 debtors, Port…
Asked by her husband to sign some documents that would mortgage their detached house in Katong in order to secure a loan for his business, some seven years ago, a 49-year-old housewife agreed. But the company defaulted on the loan, and the bank started bankruptcy proceedings against Madam Lim Lee Lee over an outstanding $16.2…
Redx Pharmas transition from administration back to trading on AIM is an unprecedented move for a UK company. The UK-based drug R&D company was declared insolvent in May after missing a repayment deadline for a £2 million ($2.62 million) secured loan from Liverpool City Council dating from 2012. It was…
Asked by her husband to sign some documents that would mortgage their detached house in Katong in order to secure a loan for his business, some seven years ago, a 49-year-old housewife agreed. But the firm defaulted on the loan, and the bank started bankruptcy proceedings against Madam Lim Lee Lee over an outstanding $16.2…
SINGAPORE – Asked by her husband to sign some documents that would mortgage their detached house in Katong in order to secure a loan for his business, some seven years ago, a 49-year-old housewife agreed . But the company defaulted on the loan, and the bank started bankruptcy proceedings against Madam Lim Lee Lee over…