CALGARY Major Canadian oil companies could face tens of millions of dollars in liabilities as a result of tiny Lexin Resources Ltd.s insolvency and its inability to clean up over 1,500 oil and gas wells in Alberta, which has doubled the number of orphan wells in the province. Receivership documents reviewed by the Financial Post…
DetailsBy Corina Pons and Eyanir Chinea | CARACAS Venezuela’s central bank is negotiating about $500 million in financing with a New York-based investment fund by using PDVSA bonds as collateral to help meet almost $3 billion in debt payments coming due in April, a lawmaker said on Monday. The bank began talks with U.S. investment…
DetailsCloud DC, the Queensland-founded developer of a virtual application service that ran on Amazon Web Services, has entered liquidation. David Whyte and Andrew Fielding of BDO were appointed administrators on 22 February. A report from the first creditors meeting saw claimed debts totalling more than $380,000. Whyte and Fielding were then appointed as liquidators of the…
DetailsChinas so-called bad banks are thriving as alternative lenders, evolving from bad-debt managers into some of the countrys largest financial conglomerates just as margins at the big state-owned banks come under pressure. Chinas four centrally controlled asset management companies (AMCs) were set up in 1999 to swallow toxic assets from banks, and have had their…
DetailsOver the past several years, Jack Remondi, chief executive of student loan giant Navient Corp., has gone out of his way to tout the companys devotion to helping Americans cope with student debt. Hes mentioned it in meetings with investors, on calls with Wall Street analysts, in testimony before Congress, and even on his Medium…
DetailsA precision engineering company based in Portslade has gone into liquidation, leaving all 16 members of staff redundant. C P Mechanical Designs Limited, which was first registered at an address in Goring Road, Worthing and is now based on Wellington Road in Portslade, has stopped trading after it called in insolvency and restructuring experts from…
DetailsMARTIN VAN BEYNEN/FAIRFAX NZ Dave Henderson is seeking damages after it was found his personal documents were accessed unlawfully. An Official Assignee solicitor unlawfully accessed Christchurch developer Dave Henderson’s personal information, including correspondence with a “well-known” politician about a diet programme. Henderson, a discharged bankrupt who famously battled Inland Revenue in the mid 90s, sued the Attorney-General over…
DetailsFormer Munster and Ireland rugby star Frankie Sheahan has been declared bankrupt in the High Court, owing over 3.5m. The 40-year-old former hooker, who was forced to retire from the game at the age of 32 because of injury, had declared an interest in eight buy-to-let properties in Cork that he had bought between 2005…
DetailsThe average income tax refund $2,860 for tax year 2015, according to the Internal Revenue Service could be a big help in staying on top of those bills. “Paying down debt should be your No. 1 priority,” said Odysseas Papadimitriou, chief executive of comparison site WalletHub.com. More from Your Money Your Future:NBA’s Draymond Green: I…
DetailsIron Gates hydropower plant. Author: Espino Family. Licence: Creative Commons, Attribution. BUCHAREST (Romania), April 3 (SeeNews) Romanian hydropower producer Hidroelectrica has exited insolvency, paving the way for a long awaited listing on the Bucharest bourse, seen as the biggest in Romania’s history, its judicial administrator Euro Insol said on Monday. The Bucharest Court ruled on…
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