By Esha Vaish (Reuters) British contractor Interserve <IRV.L>, which is in talks with its bankers to secure funding after issuing two profit warnings last year, has decided to close its power business as part of an operational restructuring of its industrial unit. Outsourcers such as Interserve have been the focus of investor attention since competitor…
DetailsSouth Africas new president, Cyril Ramaphosa, risks alienating voters in the run-up to next years elections after his administration announced plans to raise sales tax and curb spending as it seeks to stabilize debt and prevent a third junk credit rating. The value-added tax rate will be raised to 15 percent from 14 percent, the…
DetailsBy Jarrett Renshaw Senator Cruz heads to bankrupt PA refinery for rally against biofuels policy Philadelphia (Reuters) – Republican Senator Ted Cruz of Texas will speak at a rally against the U.S. Renewable Fuel Standard (RFS) on Wednesday hosted by bankrupt refiner Philadelphia Energy Solutions Inc – a company that blames the controversial biofuels policy…
DetailsI would get letters from the banks which made me feel so sick Id hide them in the wardrobe and ignore them, says Beth Rees, who lives with borderline personality disorder. I couldnt sleep for days at a time because I was worrying about what I was going to do. Rees, from Cardiff, is one…
DetailsMUMBAI: Four years after Jatin Mehta of Winsome Diamonds and Jewellery duped banks of Rs 7,000 crore, lenders have now initiated corporate insolvency process against the firm. The Ahmedabad NCLT gave a green light to initiate bankruptcy on 13th February and Sunit Shah has been named the interim resolution professional. Creditors have been asked to…
DetailsI would get letters from the banks which made me feel so sick Id hide them in the wardrobe and ignore them, says Beth Rees, who lives with borderline personality disorder. I couldnt sleep for days at a time because I was worrying about what I was going to do. Rees, from Cardiff, is one…
DetailsShare this: Bulgarian President Roumen Radev vetoed on February 21 a bill amending the Bank Insolvency Act, arguing that some of the provisions had retroactive effect, which breached the principle of the rule of law. The president supports the efforts of the National Assembly for greater efficiency in defending the public interest in bank insolvency,…
DetailsMilan (AFP) – AC Milan owner Li Yonghong has dismissed reports that he has been declared bankrupt in China as “fake news”. AC Milan owner Li dismisses bankrupt reports as ‘fake news’ Chinese businessman Li — who purchased the Italian club for 740 million euros ($911 million) in April 2017 — was responding to reports…
DetailsMilan (AFP) – AC Milan owner Li Yonghong has dismissed reports that he has been declared bankrupt in China as “fake news”. AC Milan owner Li dismisses bankrupt reports as ‘fake news’ Chinese businessman Li — who purchased the Italian club for 740 million euros ($911 million) in April 2017 — was responding to reports…
DetailsNicolette Van Wijngaarden from Unique Estates, which is being investigated by NSW Fair Trading. THE future of one of Australias top prestige property agencies is in doubt, with an insolvency firm stepping in to manage the business while it is investigated by the trading watchdog. McGrath Nicol has been appointed joint manager of Unique Estates…
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