The High Court in Christchurch has banned property developer David Henderson from running a company for six years on top of his six-year-long bankruptcy, which is set to be lifted next month. Associate Judge Rob Osborne has ordered a number of restrictions on Henderson’s dealings in a 134-page judgment, which will release the developer from…
DetailsImage copyright Reuters Ukraine’s biggest commercial bank, PrivatBank, has been nationalised in a move aimed at protecting 20 million customers and “preserving financial stability in the country”. The country’s central bank said the problems faced by PrivatBank were mainly caused by its “imprudent lending policy” which led to capital losses. Ukraine’s president Petro Poroshenko has…
DetailsORLANDO, Fla.–(BUSINESS WIRE)–LENSAR, Inc. (LENSAR), a global leader in next generation femtosecond laser technology for refractive cataract surgery, announced the filing of a Chapter 11 bankruptcy petition on December 19, 2016 to reduce its debt, strengthen its balance sheet and strengthen its platform for future growth. The filing was made with support from PDL BioPharma,…
DetailsFears that Greeces seven-year debt crisis is about to enter a troubling new phase have been voiced by one of the worlds leading rating agencies. Moodys said it was worried by the decision by the European authorities to suspend a debt-relief deal for Greece after the government in Athens gave a Christmas bonus to pensioners,…
DetailsThe current inefficient and confusing system of government-backed financial help for consumers is to be replaced with a new one-stop-shop organisation that will advise consumers about debt, pensions and scams. This new body will replace three existing publicly-funded organisations, one of which came under fire for spending more than £100m on marketing and advertising in…
DetailsMS Sahoo, Chairman of Insolvency and Bankruptcy Board of India Will also result in lower default and better recovery: Bankruptcy board chief Mumbai, December 19: The Insolvency and Bankruptcy Code enacted by the government recently is likely to improve ease of doing business rankings and provide a safe exit for businesses that have failed. MS…
DetailsMick Wallace has been declared bankrupt in the High Court. The Wexford TD was found to be unable to pay back multi-million euro loans following an application by the US fund Cerberus. Todays decision comes on the back of an application by Promontoria Limited, a subsidiary of US fund Cerberus, in relation to a 2m…
DetailsUkraine has declared PrivatBank insolvent and said bringing it under state ownership was the only way to protect money of 20M clients and stave off threats to the financial system. The country will support its biggest lender with liquidity if needed, adding that it did not see the nationalization process as significantly impacting the currency…
DetailsA partnership between Canadore College and Swiss Space Systems (S3) appears to be dead on the launch pad as reports out of Europe say S3 is bankrupt. Two years ago, then MP Jay Aspin announced funding for a partnership between Canadore Aviation and Swiss Space Systems (S3) as part of a $10-million project that would…
DetailsINDEPENDENT TD Mick Wallace was today declared bankrupt by the High Court. Ms Justice Caroline Costello granted a bankruptcy petition from Promontoria (Aran) Ltd fund arising from a 2million judgment obtained after the fund took over the TDs debt to Ulster Bank. Mick Wallace appeared in the High Court this morning The Wexford politicians total…
Details