TUC boss calls on government to establish group to share knowledge on collapsed firm Unions are worried about the impact of the firms collapse on sub-contractors and Carillion staff. Photograph: Darren Staples/Reuters Trade unions have demanded that a taskforce be set up to help deal with the fallout from the Carillion collapse and accused ministers…
DetailsThose payments as well as several others stretching back to 2005 were met with consternation by industry observers at the time Sears Canada gave up the ghost this year after more than a decade of pundits calling for its demise. Leah Hennel/Postmedia TORONTO Sears Canadas bankruptcy monitor is investigating more than a half billion dollars…
DetailsTo further ease the insolvency and bankruptcy process and streamline the acquisition of stressed assets, Union Finance Minister Arun Jaitley may do away with no-objection certificates required for asset transfers. This comes under Section 281 of the Income-Tax Act, and it will be waived for transactions between companies under insolvency…
DetailsUkraine’s central bank says an investigation into the country’s largest lender, PrivatBank, shows that it had been “subjected to a large-scale and coordinated fraud” over at least a decade. The fraud resulted in the bank, which was taken into state control in 2016, suffering a loss of at least $5.5 billion, the central bank said…
DetailsMaria* is 68-years-old. She has been living alone for many years following a divorce. Maria is unable to work due to chronic medical conditions, however, she is still paying off a home loan and is saddled with two credit card debts which her aged disability pension doesnt come close enough to helping with. Finances regularly…
DetailsRuna Alam and Ibrahim Sagna January 16, 2018 Private debt is recognised as an institutional asset class and as an alternative source of risk-adjusted returns for institutional investors globally. While some investors have specific, fixed allocations to private debt, others allocate from fixed income or private equity. In Africa, there has been a convergence of…
DetailsGujarat NRE Coke is one of the companies affected by the recent ordinance which bars promoters from bidding for stressed assets unless they repay the interest and principal amount. Mumbai: The chairman and managing director of Kolkata-based Gujarat NRE Coke Ltd, Arun Kumar Jagatramka, has criticised bankers and regulators for allowing viable companies to go…
DetailsGEORGE HEARD/STUFF A sign in central Christchurch puts a positive spin on the revenues raised – or lost, depending on your perspective – from gaming machines. Millions of dollars each year are flowing from some of the poorest communities in Christchurch into the hands of clubs and charities via pokies scattered around the city. A case…
Details2.38am AEDT02:38 ITVs Joel Hills has more details of the Carillion witness statement, and its very bad news for creditors: Joel Hills (@ITVJoel) Witness statement filed at High Court by Carillion CEO is doing the rounds. Its fascinating. Reveals that expected recovery for creditors in liquidation is 0.8p – 6.6p in the £. Ouch. January…
Details(Adds Kolomoisky comment, quote from central bank deputy governor, background) By Natalia Zinets KIEV, Jan 16 (Reuters) – Ukraines central bank said on Tuesday an investigation into the countrys largest lender, PrivatBank, which was taken into state control in 2016, showed it had been used for money-laundering and shady deals over the course of at…
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