Ina seminal 2015 article (goo.gl/a78kA9) on the culture of entrepreneurship in Silicon Valley, Newsweek highlighted the rarity of enormously successful tech startups unicorns that were valued at over $1billion. It likened the chances of creating a unicorn to those of a frog laying 20,000 eggs to produce a few viable tadpoles, and went on to…
In the context of US capitalism, corporate bankruptcy has become less an admission of failure or a final chapter than a kind of R&R, a chance to shed some flab and come back stronger. As anyone who has followed Donald Trumps career knows, a big company declaring Chapter 11 bankruptcy is like Lindsay Lohan checking…
Business news: German publishing house Gestalten has entered into voluntary insolvency after losing money on a concept store in Berlin. The company, which publishes books about architecture, design and other creative disciplines, made the declaration after failing to secure an extended credit line from its bank. “I had to apply for insolvency otherwise I could have…
Groovefest (Photo : via Goorvefest) Festival season is one of the most exciting times for music fans around the world. They get to see some of their favorite acts on big stages almost every weekend. Traveling and camping becomes part of the adventure. Even with the proliferation of festivals globally, there is a downside sometimes…
Photo courtesy of Michael Miller/Groovefest Just three days before it was scheduled to kick off its annual weeklong festival in the Dominican Republic, Groovefest has canceled its 2016 event. According to a Facebook post published around 10 AM PST, the promoters cite being unable to hit ticket sale targets as the reason for cancellation, thus…
OVERLAND PARK, Kan.–(BUSINESS WIRE)– Ivy High Income Opportunities Fund (IVH) today announced a monthly distribution of $0.125 per common share. The distribution schedule is as follows: Ex-Date Record Date Payable Date Amount September 14, 2016 September 16, 2016 September 30, 2016 $0.125 per share The distribution…
September 2nd, 2016 Splash 24/7 Asia, Containers, Contributions 0 comments The insolvency of Hanjin Shipping, the worlds seventh largest container line, is likely to have a significant impact throughout the maritime sector. In this briefing Craig Neame and Matthew Wilmshurst from law firm Holman Fenwick Willan provide an overview of some of the potential consequences…
By Kenneth Rijock Cayman Islands media, reporting on the latest developments in the unfolding scandal behind the court proceedings regarding B & C Capital Ltd, were forced to rely upon statements of the court-appointed liquidators, as the new proceeding against Bateman & Company Ltd was held behind closed doors. Kenneth Rijock is a…
Updated Sept. 2, 2016 12:09 a.m. ET Landlords, liquidators and licensing firm Authentic Brands Group have been declared the winners of a contest for distressed retailer Aéropostale, with an offer of $243.3 million in a deal that preserves part of the business, according to a person familiar with the matter. The results of a bankruptcy…
A plan to regulate the insolvency sector and shut down unscrupulous operators is being welcomed by an industry body. Photo: 123RF The government has released the first part of a review into insolvency laws, which recommends licensing for practitioners and steps to improve protection for creditors in voluntary liquidations. The working group’s report said current…