Work is halted at Ulster university’s building site as insolvency experts go in – Belfast Telegraph

BankruptcyBy Insolvency Advisory AccountantsFebruary 27, 2018

Work is halted at Ulster university’s building site as insolvency experts go in BelfastTelegraph.co.uk The new £250m Ulster University campus in Belfast has been mothballed and workers sent home over a litany of legal problems, the Belfast Telegraph can reveal. https://www.belfasttelegraph.co.uk/business/northern-ireland/work-is-halted-at-ulster-universitys-building-site-as-insolvency-experts-go-in-36646249.html https://www.belfasttelegraph.co.uk/news/uk/article36647117.ece/72023/AUTOCROP/h342/KPMG.jpg Email The new £250m Ulster University campus in Belfast has been mothballed and…

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Police choking on Shs125 billion debt, calls for govt help – Daily Monitor (press release) (blog)

Debt HelpBy Insolvency Advisory AccountantsFebruary 27, 2018

The Uganda Police Force has asked government through the Minister of Internal Affairs, General Jeje Odong, to rescue it from a heavy debt of Shillings 125.9 billion which is increasing every day. The police debt accruing from electricity, water, food supply and fuel has been increasing steadily since 2010. In 2013 the police debt burden…

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Saudi’s new bankruptcy law paves way for investments in markets and mega-projects – ZAWYA

BankruptcyBy Insolvency Advisory AccountantsFebruary 27, 2018

Bankruptcy law is meant to support confidence and to smooth up possible new investments needed to support the long list of giga-projects and expected IPOs, Cyril Widdershoven, an economics and energy partner at Verocy, a consultancy firm advising on investment risks in the Middle East, told Zawya by email. Saudi Arabia has embarked on an…

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Numetal ups Essar pitch – The Telegraph

LiquidationBy Insolvency Advisory AccountantsFebruary 26, 2018

Calcutta: Numetal’s partners may buy out Rewant Ruia’s stake in the consortium pitching for Essar Steel if the latter is found to be ineligible to bid for stressed assets under the provisions of the Insolvency and Bankruptcy Code (IBC). Rewant, the younger son of Essar Group founder and promoter Ravi Ruia, holds a 25 per…

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Toys R Us on verge of collapse as deadline looms – The Week UK

BankruptcyBy Insolvency Advisory AccountantsFebruary 26, 2018

Toys R Us is expected to enter administration tomorrow unless an eleventh-hour deal to rescue the ailing company is struck. See related  Frantic attempts to secure a buyer before Tuesdays deadline for payment of a £15m VAT tax bill have so far failed, with a potential investor pulling out at the last minute, the Retail…

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$631M in Medical Debt: We’re Erasing Some – NBC 10 Philadelphia

Debt HelpBy Insolvency Advisory AccountantsFebruary 26, 2018

A sudden medical emergency doesnt just wreak chaos on a persons life. For many people, it takes a dangerous toll on their financial security. One in five U.S. residents have delinquent medical debt on their credit reports, according to the Consumer Financial Protection Bureau. In the Philadelphia region, more than 1.1 million people owe a…

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Let’s Play India Bankruptcy Tag – Bloomberg

BankruptcyBy Insolvency Advisory AccountantsFebruary 26, 2018

Just as a bunch of high-value assets are about to exit India’s fledgling bankruptcy process, it appears founders won’t relinquish control of their steel, power and cement plants without exhausting every last legal trick in the book.  A knot of clumsily crafted eligibility rules introduced by the government in November have become a thorn in the…

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LA County offers to help doctors pay off medical school debt if they work in its jails – LA Daily News

Debt HelpBy Insolvency Advisory AccountantsFebruary 26, 2018

On the outside, Richard Brent was a thief and a user. He stole and used meth and heroin, acted tough and aggressive, all of which got him a 90-day sentence to Los Angeles Countys Mens Central Jail. But for Dr. Lauren Wolchok, his physician on the inside, Brent is neither criminal nor inmate. For her, he…

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Bhushan insolvency process: NCLT asks RP to submit stand on Liberty bid by March 2 – Economic Times

BankruptcyBy Insolvency Advisory AccountantsFebruary 26, 2018

MUMBAI: A dedicated bankruptcy court finalising the insolvency of Bhushan Power and Steel has asked the resolution professional (RP) to submit his stand by March 2 on opening the Liberty House bid that came in after the deadline for the debt-laden company had ended. UK-based Liberty House is also keen to buy Bhushan Power and…

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Why CBL Corporation just entered voluntary administration … – Motley Fool Australia

LiquidationBy Insolvency Advisory AccountantsFebruary 26, 2018

Things dont look good for CBL CORP FPO NZX (ASX: CBL), with the company placed in administration over the weekend. CBLs shares have been suspended since 6 February 2018, after entering a trading halt four days prior to that. I wrote on the 5 February that the company had shocked shareholders by announcing it would take a $100…

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