Sears Canada said Thursday it is seeking court protection from its creditors in order to restructure its business. The struggling retailer has piled up losses and seen its stock dive, losing more than 80 per cent of its value in the last year, despite efforts to reinvent itself at a time when more Canadians are…
DetailsParma also announced that former Argentina forward Hernan Crespo, who played for the club between 1996 and 2000 and returned in 2010 to end his career there, would become a vice-president. Parma, twice winners of the old UEFA Cup in the 1990s, were declared bankrupt two seasons ago after finishing bottom of Serie A and…
DetailsA FORMER Newport County AFC player who admitted defrauding the school he worked at of more than £15,000 to pay off gambling debts has been branded an “idiot” by a judge. Cortez Belle, who played for The Exiles in 2005, appeared at Cardiff Crown Court today, Thursday, after previously admitting two counts of fraud in…
DetailsTelefonaktiebolaget LM Ericsson (publ) (ERIC – Free Report) recently announced that it has inked an agreement with Singapore-based power-supply products provider, Flex, to divest its Ericsson Power Modules (EPM) business. The transaction, subject to customary closing conditions and regulatory approvals, is scheduled to close in third-quarter 2017. The deal marks the first exit of assets…
DetailsGary Brooks, already tasked with bringing downtown’s art deco jewel, First National, back to life, is still recovering from an open house last week where thousands got a last glimpse and trusted the developer with some of their precious possessions. The open house, hosted last Friday and Saturday, was a chance for the public to…
DetailsThe shipping industry has been buffeted by storms recently, causing a wave of consolidation and affecting the legal services required. While shipping lawyers have adapted to the changing tides, the future is shrouded in fog. The past few years have been among the worst in the global shipping industrys history. Too many vessels…
DetailsShares in Sears Canada were halted Thursday morning after the retailer said it is seeking court protection from its creditors while it restructures itself. The company has asked the Ontario Superior Court for protection under the Companies’ Creditors Arrangement Act the law that covers insolvency proceedings. The move allows the retailer a little more time to…
DetailsBy Associated Press, LONDON Boris Becker was declared bankrupt by a British court on Wednesday after the former tennis player failed to pay a long-standing debt. A lawyer for the six-time Grand Slam champion pleaded with a Bankruptcy Court registrar in London for a last chance to pay a debt that Becker has…
DetailsMUMBAI: Financial credit, Pine Forest Products has initiated corporate insolvency resolution process for Zenith Computers, makers of computer and laptops, early this week. Pine Forest Products & Investments issued notice under bankruptcy after the company failed to repay loans despite giving two notices. Zenith Computers owes Rs 1.25 crore to Pine Forest Products while has…
DetailsROBERT KITCHIN/FAIRFAX NZ The bistro ceased trading on June 9. A well-known Wellington restaurant is in liquidation owing more than $300,000 to creditors, after only 18 months under new ownership. Tinakori Bistro, owned by Good Root Co, closed its doors on June 9, after failing to pay back a long list of unsecured creditors. The restaurant, at…
Details