Private banker Nathalie Dauriac has told the high court she became scared of her former mentor and business partner John Caudwell, accusing the Phones4U billionaire of bullying her during an investigation into her expenses. Speaking in court on Wednesday, Dauriac said Caudwell sought to intimidate her by making claims about wrongdoing as a pretext to…
DetailsOne of Vice President Mike Pences closest allies advised a cadre of student debt relief companies some of which are facing an unprecedented nationwide crackdown for preying on vulnerable borrowers on how to lobby Washington and fend off regulators. Marty Obst, a longtime adviser to Pence and operative closely aligned with Trumps outside political operation,…
DetailsThe Greek government has moved to have the countrys largest shipyard Hellenic Shipyards declared bankrupt. The insolvency proceedings were filed under the countrys revised bankruptcy code, which foresees the rapid sale of assets and the withdrawal of old shares. The governments petition has brought a strong reaction from the yards owner, Privinvest Group of Lebanon…
DetailsConnecticut cities seeking state assistance with debt payments would be prohibited from filing for bankruptcy. Under the latest state budget proposal, municipal leaders can apply to have the state pick up a portion of their annual debt payments, a move that is being considered in the cash-strapped capital city. In a new draft of legislation…
Details(CN) In a ruling Wednesday that makes it easier for EU businesses to relocate their registered offices to different member states, the European Court of Justice called out a law in Poland that mandates liquidation as part of such moves. Liquidation is a useful way, the Luxembourg-based court found, at ensuring that a number of…
DetailsSome companies keep trading and operating their business, even when it is clear to them that they are bankrupt and are unable to continue. When this happens to a business or company, that business or company is said to be insolvent. This can put the business owner or company director into a lot of trouble.…
DetailsAthenahealth, the Massachusetts-based electronic medical records company with a substantial operation in metro Atlanta, plans to cut an estimated 61 jobs in metro Atlanta as part of a broader business restructuring, according to a state agency notice. Last week, the company announced plans to cut its workforce by 9 percent as part of a cost…
DetailsThe good news about student loans is that they allow millions of people to earn college degrees who otherwise wouldnt be able to afford them. The bad news is that college graduates enter the workforce deeply mired in debt that deflates their net worth and keeps them cash-strapped for years, if not decades. The current…
DetailsThe Medicines Company CEO Clive Meanwell is circling all the wagons around its late-stage PCSK9 development plans for inclisiran. Clive Meanwell, The Medicines Company The Alnylam partner said today that once the biotech completes an effort to sell off its infectious disease group, the company which had 410 staffers in February will chop its remaining…
DetailsGovernment debt could increase by more than 50%, or by R1.2 trillion, to danger levels over the four fiscal years ending March 2021 and if this comes to bear it could ultimately lead the country to seek international help from organisations like the International Monetary Fund (IMF). Finance Minister Malusi Gigaba today presented his first…
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