The debt resolution of Essar Steel has turned into a full-scale corporate war between VTB Bank of Russia and LN Mittals ArcelorMittal, both of which have made multi-billion dollars offers for the Gujarat-based steel company. All eyes are now on the lenders meeting scheduled on Thursday. The lenders are expected to call for a…
DetailsBy Ryan Smith for MailOnline Published: 12:02 AEDT, 7 March 2018 | Updated: 12:03 AEDT, 7 March 2018 e-mail View comments Coronation Street star Michael Le Vell has reportedly been declared bankrupt, after allegedly being slapped with a six-figure tax bill and £200,000 in legal fees. The 53-year-old actor, who is said to earn £250,000 a…
DetailsCalifornians owe more than $400-million in medical debt and its been said it is the number one cause of bankruptcy in America. Here in San Diego, its estimated over 464,000 people have medical debts noted on their credit reports, totaling over $670-million. One round of chemo is roughly $13-15,000, Cheryl Pascarella from Ramona said, I…
DetailsAlex Ralph About £700million of funds were frozen when the Financial Conduct Authority placed Beaufort into administrationChris Ratcliffe/Getty Images The administrator to Beaufort Securities, the failed City broker, has warned that it could take many months to return cash to investors. PWC confirmed that it expected to make substantial returns to clients after costs and…
DetailsIrish virtual mobile network iD Mobile, whose parent company is Carphone Warehouse, has been placed into provisional liquidation. The network has been operating since 2015 and Dixon’s Carphone invested ‘substantial resources’ to establish iD mobile and has continued to support the business. The company released a statement today that said: “Despite a compelling consumer mobile proposition…
DetailsOctober said in a briefing to the parliamentary committee on Tuesday that all jurisdictions accepted that debt could be extinguished (for example in liquidations and business rescue) and that this was not expropriation. What was key was the process followed and that the other side had the opportunity to be heard. Debt could not be…
DetailsCorrie veteran Michael Le Vell has been declared bankrupt despite earning £250,000 on Britains No1 soap. The actor, who plays Kevin Webster in the Street, failed to keep on top of his tax affairs, papers seen by the Mirror show. The latest blow follows admissions that he was an alcoholic who cheated on his wife…
DetailsSaudi Arabia is changing its bankruptcy laws in a move that should help the country diversify its economy away from oil. The change, which came from King Salman in February, will undoubtedly help boost much-needed foreign investment in the kingdom. Thats because, up until now, there has not been a satisfactory way to deal with…
DetailsImage copyright PA As many as 14,000 investors in the collapsed stockbroking firm Beaufort Securities should get a “substantial” amount of their money back. The official administrators, PwC, said that the firm’s clients should see between 85% and 90% of their cash returned to them. However, it will be at least a month before any…
DetailsCONTROVERSIAL US economist Harry Dent has come under fire from embattled real estate mogul John McGrath for his doomsday predictions for the housing market. The McGrath Estate Agents founder slammed Dents forecasts in a column published in Switzer Daily for echoing Australian housing bubble predictions he made in 2014 and 2011, despite them being proved…
Details