“This is not something a president should be doing or can do,” said Larry McDonald, head of the U.S. macro strategies at ACG Analytics. “It’s just noise, and it’s pretty far removed from reality.” “This is not a dictatorship. We have bankruptcy judges and the rule of law,” McDonald said. “But it is scaring the…
DetailsA former chief executive of Sears Canada says complete liquidation is inevitable and is the only likely outcome for the troubled retailer. It sounds like its an inevitability, said Mark Cohen, in an interview on BNN Wednesday. If the company is stepping in at this late date looking to sell yet more assets, theres very…
DetailsLoanGifting allows student debtors to connect with their extended network of friends, family and employers to help pay down student debt. This fintech solution allows payment to be made direct to a student debtor’s loan, streamlining the repayment process and providing greater relevance to loan holders than 401k contributions for those employed. For the millions…
DetailsWIMBLEDON legend Boris Becker is in debt to the tune of 54 million pounds and is facing having his homes and personal property repossessed, according to German media. Magazines Stern and Bunte say the bankruptcy declaration in London three months ago was only the “tip of the iceberg” of what he actually owes. Getty –…
DetailsAdvertisementConstellation Enterprises Chapter 11 reorganization case has been converted to a liquidation under Chapter 7 in accordance with the September 27, 2017 order approving the Companys conversion motion. Advertisement As previously reported, The Debtors chapter 11 cases shall be convertedto cases under chapter 7 of the Bankruptcy Code, effective on October…
DetailsSears Canada Inc.’s top executive is making a last-ditch attempt to avoid the company’s liquidation after a court-appointed monitor proposed asset sales that undercut his pending bid to keep some stores in business. A special committee of the Sears Canada board is weighing whether its executive chairman can keep a slimmed-down version of the retailer…
DetailsBy RABECCA CHIPANTA and STEPHANIE KUNDA –FOUR Ndola City Council (NCC) employees have been apprehended for allegedly locking up the local authority offices in the early hours of Monday to protest delayed salary payments.Ndola Mayor Amon Chisenga named the employees as Nalcom Mupimpila, a senior systems analyst (management position), Warren Sinyangwe, a clerical officer under…
DetailsDrake & Scull International (DSI) has announced that it has successfully completed its capital restructuring program which started at the beginning of the fiscal year. The company also welcomed a AED500 million ($136.1 million) investment by Tabarak Investment which will enable DSIs new leadership to move forward with its operational plans. DSI said it plans…
DetailsPresident Donald Trumps visit to Puerto Rico on Tuesday showed a deep disconnect between his vision of the federal disaster response to the territorys devastation after Hurricane Maria and the reality being reported on the ground. Beyond his odd insistence that everything is going great, Trumps lecturing tone struck a nerve. He actually had the gall…
Detailsby Justin Sink President Donald Trump has suggested that the government debt accumulated by bankrupt Puerto Rico would need to be wiped clean to help the island recover from the devastation caused by Hurricane Maria. “We are going to work something out. We have to look at their whole debt structure,” Trump said in a…
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