For bondholders sitting on Puerto Rican debt, Hurricane Maria may have come just when they needed it, just as a yearslong battle over the fate of the islands financial future was beginning to turn against them. Or, depending on how the politics shake out, they could see their entire bet go south. Ahead of Maria,…
DetailsVideo PlayerClose RIGA, Oct. 4 (Xinhua) — The Latvian government is expected to name the new investor of ailing steel company KVV Liepajas Metalurgs by the end of October, Vladimirs Loginovs, chairman of the Latvian Privatization Agency, said on public radio Wednesday. Citing unconfirmed reports, LETA news agency informed earlier that the steelworks in Latvia’s…
DetailsTORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have set a deadline of Oct. 7 for the retail chain to enter liquidation agreements for all its assets, leaving the company with just days to reach a deal to continue operations, a court-appointed monitor said. That tight deadline presents a challenge and could potentially derail…
DetailsSears Canada Inc.s top executive is making a last-ditch attempt to keep the retailer alive as its creditors press for an accelerated liquidation to settle its debts. A special committee of the Sears Canada board will decide this week on Executive Chairman Brandon Stranzls bid to purchase some of its stores out of bankruptcy as…
DetailsTORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have set a deadline of Oct. 7 for the retail chain to enter liquidation agreements for all its assets, leaving the company with just days to reach a deal to continue operations, a court-appointed monitor said. That tight deadline presents a challenge and could potentially derail…
DetailsDemocrats are urging the White House and Congress to use the rebuilding of Puerto Rico after Hurricane Maria to address the U.S. territorys broader debt crisis. Senator Chuck Schumer, the partys leader in the Senate, said Puerto Rico needs a fair solution to deal with the $74 billion in debt that it was saddled with…
DetailsTORONTO Sears Canada could begin a full liquidation of the business as soon as October 19th as the clock runs down on an offer from executive chairman Brandon Stranzl. Stranzl, who made a latest revised bid for the company on Tuesday night, is the only party who wants to run the business as a going…
DetailsBy PHILIP MUYANGAMore by this Author PrideInn Hotels and Investments Ltd got a reprieve on Wednesday after the Court of Appeal suspended the execution of a judgment placing it into liquidation for its inability to pay a Sh69.3 million debt. The stay of execution of the judgment has been issued pending the filing, hearing and…
DetailsThe government is calling it the biggest ever U.K. airline failure. Monarch/Facebook The INSIDER Summary: More than 110,000 travelers are stranded around Europe and the Middle East after Monarch Airlines declared bankruptcy. The British airline immediately cancelled services with little warning to employees and passengers. An estimated 860,000 people have lost future travel bookings. The…
DetailsA gambling addict has revealed how he blew a £20,000 business loan in just ONE MONTH at casinos across Birmingham and the Black Country – but his family does not know. The married man, who wants to remain anonymous, took out the loan to set up a new company but ended up blowing it on…
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