Bloomberg reported on Thursday that Toys “R” Us is making preparations for a liquidation of its bankrupt U.S. operations. The company has struggled to find a buyer or reach a debt-restructuring deal with lenders, leaving it with few options. It has insisted its Australian operations will not be affected by the insolvency. Claire’s Stores Inc.,…
DetailsBy Rupert Rowling March 10, 2018, 7:01 PM EST British lawmakers released documents that show law firms and consultants got millions of pounds from Carillion Plc, a day before the failing companys chairman asked for an emergency government loan in a letter that one committee head called a ransom note. Carillions board requested 10 million…
DetailsLetter to the editor WITH 1190 SCHOOL SUSPENSIONS PER YEAR, IT IS BLEEDINGLY OBVIOUS THE SYSTEM NO LONGER WORKS IT WAS with a great degree of sadness and concern I read the headline story in The Gympie Times (Saturday, March 3) . YOUR SAY: Suspensions catch bullying victims in crossfire Sad for the lost opportunity…
DetailsQUEENSLAND’s new mandatory farm debt mediation program has seen 33 cases initiated in the first six months of the programs operation. The cases represent a broad cross section of farming industries and 18 local government areas. Administered by the Queensland Rural and Industry Development Authority (QRIDA), the program aims to protect the interests of both…
DetailsUpdated 1 hour ago Chad Godfroy has saved every email from the U.S. Department of Education since submitting an application to have his federal student loans cancelled in 2015. Despite the continued wait, Godfroy, 38, took comfort in knowing his payments would be postponed as long as his claim was under consideration. He was elated…
DetailsLenders, reeling under the pressure of recovering dues from insolvent companies, have run into another wall. The National Company Law Appellate Tribunal has ruled that lenders cannot invoke guarantees given by promoters while the borrower is facing insolvency proceedings. State Bank of India was amongst the many lenders that initiated proceedings against guarantors to recover…
DetailsCREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
DetailsRetailers can survive the retail apocalypse if they control their intellectual property, said Gerald Storch, CEO of Storch Advisors, a retail advisory firm. “If [a company] is vertical, the margin is much richer,” Storch told CNBC, referring to a company that owns its own supply chain. “You can afford to play on the internet, which…
DetailsLOUISVILLE, Ky., March 09, 2018 (GLOBE NEWSWIRE) — CafePress Inc. (NASDAQ:PRSS) a leading retailer of personalized products offering a wide variety of expressive gifts and accessories, (“CafePress” or the “Company”), today announced changes to its executive leadership team and Board of Directors. The Company is undertaking another restructuring initiative and is revising its…
DetailsNEW DELHI: The government will review the issue of the bar on liquidating the assets of those who have given personal guarantees against loans when it comes to companies undergoing insolvency resolution, officials said. There is already arestriction on similar seizures with regard to guarantees made by corporates. This stems from a recent ruling of…
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