NEWS FLASH Adria Airways bankruptcy administrator has dropped proceedings to hold one of the former national airlines CEOs, Sven Kukelmelk, responsible for the companys collapse. Mr Kukelmelk from Estonia joined Adria just months before the airline declared bankruptcy and was the carrier’s CEO jointly with Holger Kowarsch. Last year, the bankruptcy administrator filed a 78-million-euro…
DetailsFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails When someone is drowning in debt, the promise of a quick fix may appear very attractive. According to recent Bank of England figures, net consumer credit borrowing increased…
DetailsProperty owners in Florida will now have a choice of four new insurers this year after the Orion180 Select Insurance Company and Orion180 Insurance Company were approved Tuesday by the Florida Office of Insurance Regulation (OIR). They will join Mainsail Insurance Company, which was approved in August, and Tailrow Insurance Company, approved in April. OIR…
DetailsCard chain Clintons is set to close 38 shops in a bid to avoid insolvency, according to reports (Alamy/PA) Clintons Cards appears to be safe from collapse for at least the next 12 months, after an insolvency court approved a restructuring plan that allows the retailer to escape full payment of business rates and rent…
DetailsSummary Go First has received approval for $12 million to cover urgent financial liabilities. The funds will be used to pay for employee salaries, airport fees, aircraft upkeep, and other mandatory expenses. However, Go First still faces challenges, including employee retention issues, a decrease in the number of pilots, and disputes with lessors. Indias cash-strapped…
DetailsCard chain Clintons is set to close 38 shops in a bid to avoid insolvency, according to reports (Alamy/PA) Clintons Cards appears to be safe from collapse for at least the next 12 months, after an insolvency court approved a restructuring plan that allows the retailer to escape full payment of business rates and rent…
DetailsThe idea behind IBC is to resolve corporate insolvency quickly so that capital can be freed for productive use. Legacy methods were found wanting, and the code has been modified swiftly to overcome gaps. Special dispensation has been provided, or is in the works, for financial service providers, small enterprises and real estate companies. Yet,…
DetailsReliance Communications has said that any action taken by the Union Bank of India for initiation of any proceedings to identify the bankrupt telco’s loan accounts as fraudulent is not legally tenable since the company is undergoing the corporate insolvency resolution.In a filing to the Bombay Stock Exchange on Thursday, Rcom also pointed out that…
DetailsConstruction company collapse: Sydney firm YME Metal Projects Pty Ltd goes into voluntary liquidation with tradies left out of pocket Sydney-based fabrications company has collapsed Firm owes tradies, suppliers and workers thousands By Jesse Hyland For Daily Mail Australia Updated: 10:43 AEST, 25 August 2023
DetailsJERSEY CITY, N.J. U.S. Senator Bob Menendez (D-N.J.) today issued the following statement on the Biden Administrations ongoing student debt relief efforts: Earlier this month, President Biden announced student debt discharges would begin for 804,000 borrowers, including 17,290 in New Jersey, who qualify for $39 billion in student debt relief because of fixes the Administration…
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