10:56 05/03/2018 MOSCOW, March 5 (RAPSI) Yury Burlyak, property manager for the co-owner of Yashma group Igor Mavlyanov, has asked the Voronezh Region Commercial Court to declare the entrepreneur bankrupt, the court documents read. In November 2017, the court granted a motion to initiate the procedure of debt restructuring against Mavlyanov. The applicant in this…
DetailsChinas 2018 growth target is in line with last year, amid plans for tighter government spending. The announcement was made Chinese Premier Li Keqiang in an address to the National Peoples Congress. As part of the Congress, delegates will remove the term-limit for President Xi Jinping, clearing the way for him to rule indefinitely. China…
DetailsCelebrates centenary By Rosemary Onuoha ROYAL Exchange Plc has announced plans to undertake a corporate restructuring of its key operations even as it unveils plans to mark 100 years of operations. Group Managing Director, Alhaji Auwalu Muktari, disclosed this in a parley with insurance journalists in Lagos last week, saying, the restructuring…
DetailsAussie Farmers Direct has gone into voluntary administration. The food delivery company blamed competition with major supermarkets and the influx of cheap imported produce for its demise. The 13-year-old business will close immediately, affecting about 100 franchisees, 260 employees and 100,000 customers around the country. No future orders will be delivered and refunds will be…
DetailsAfter being in business for over a decade, the online fresh food delivery company Aussie Farmers Direct has gone into voluntary administration. Chris Smith speaks to NSW Liberal MP, Craig Kelly. These guys have had a good run for at least a decade and they really brought some competition pressure. they had a good offering.…
DetailsAussie Farmers Direct has gone into voluntary administration. The online grocer struggled to compete with major supermarkets Woolworths and Coles. 100 franchisees, 260 employees and 100,000 customers will be impacted from the closure. Aussie Farmers Direct, a pure-play online grocer with a home delivery network, has gone into voluntary administration after struggling to compete with…
DetailsThe charity behind the Drop the Debt campaign to help developing countries stuck with problem borrowing is turning its attention to Britain, calling for government action to write off as much as £40bn in spiralling consumer debt. The Jubilee Debt Campaign, famed for its association with Bono, Bob Geldof and Muhammad Ali in aiding African…
DetailsThe legal battle that has broken loose in the insolvency resolution process of Bhushan Power & Steel underlines the importance a confidentiality clause in bidding or deals involving mergers and acquisitions. The two bidders, Tata Steel and Liberty House, seem to know each others offer price and have been throwing that as an argument…
DetailsCollege graduates are entering the workforce with student loan debt averaging about $35,000. Some are finding a new partner in paying those huge monthly bills: their employer. Large companies such as health insurance giant Aetna Inc., Fidelity Investments and Estée Lauder have announced they are providing money toward student loans as part of their employee…
DetailsWileyfox, the British smartphone maker that went into administration last month, has until the end of the month to find a rescuer before it faces liquidation. The company started selling budget handsets in 2015 via retailers such as Carphone Warehouse, but has struggled to compete against more established names and a rise in component costs…
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