Keppel has announced that it is restructuring its Offshore & Marine (O&M) business so it will be well-placed to support the energy transition. In a statement issued yesterday (28 January), Keppel said that the company will be restructured into three parts, separating construction and ownership of legacy drilling rig assets from its core yard operations…
DetailsIn May 2019, a gold Ford Transit exploded against the backdrop of Canary Wharf in Londons financial district, sending paper fluttering through the air. With this act, 1.2m of high interest debt carried by local people living in east London had been cancelled. Yet there was a bigger shock to come. Those debts had been…
DetailsThe number of personal insolvencies recorded in England and Wales fell to a three-year low in 2020. The Insolvency Service said there were 111,424 individual insolvencies in 2020 a total which was down by 9% on 2019. It marked the lowest annual figure since 98,897 personal insolvencies were recorded in 2017. The service said the…
DetailsReceivership activity in the U.S. insurance industry decreased sharply year over year in 2020, but insurers were still adversely affected by a struggling economy brought on by the COVID-19 pandemic. Regulators placed eight underwriters into liquidation and four into rehabilitation last year, according to an S&P Global Market Intelligence analysis. That compared with 22 companies…
DetailsThe company has been losing customers ever since reports of the database leak and subsequent blackmail attempts emerged. Image: Juha Kemppainen / Yle The private mental health services company Vastaamo, which has been at the centre of a hacking and blackmail scandal since October, has been placed into liquidation. The decision was made by the…
DetailsBENGALURU: Wipro CEO Thierry Delaporte’s reorganisation of the company structure has resulted in some 75 senior VPs and VPs and 300 general managers exiting the firm in the past few months.TOI reported details of the planned reorg in November. One of its objectives is to reduce the number of layers in the firm as part…
DetailsMazars has appointed 10 partners across the UK, six internally promoted and four joined Mazars as school leavers or graduates. The partners are: Lara Brennan, Rebecca Dacre, Leanne Finch, Alan Frost, Phuong Gomard, Ian Goodwin, Xavier Larrieu, Nick Nesbitt, Zoe Peck and Natalie Wright. Grant Thornton has promoted Colin Diss to partner in its insolvency…
DetailsJobs will be at risk, flight prices may soar and regional areas will be under-serviced if the aviation industry doesnt get more help, Virgin Australia warns. The airline, which went into voluntary administration in April and was then bought by US private equity firm Bain Capital, this week confirmed 350 corporate and head office staff…
DetailsAlice McCall emerged from voluntary administration on December 11 through a deed of company arrangement (DOCA), SV Partners administrator Ian Purchas has revealed toRagtrader. According to Purchas, Alice McCall owed $2.3 million to its largest related-party creditor – the title holder of the intellectual property – $5 million to ordinary unsecured creditors, $130,000 to redundant…
DetailsAlice McCall emerged from voluntary administration on December 11 through a deed of company arrangement (DOCA), SV Partners administrator Ian Purchas has revealed toRagtrader. According to Purchas, Alice McCall owed $2.3 million to its largest related-party creditor – the title holder of the intellectual property – $5 million to ordinary unsecured creditors, $130,000 to redundant…
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