By Tracy Rucinski and Jim Christie Former telecommunications equipment company Nortel Networks Ltd [NRTLQN.UL] reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion (5.98 billion pounds) raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel…
DetailsGambling adverts on daytime TV could soon be banned, due to growing concerns that children are being exposed to gambling and see it as normal. An existing Government review of Fixed Odds Betting Terminals (FOBTs) is being expanded and aims to curb gambling to ensure that young and vulnerable people in particular are protected from…
DetailsBOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: SoLocal Group (Paris:LOCAL) announces that more than two-thirds of the creditors have approved today its financial restructuring plan. The plan will now be submitted on 19 October 2016 at the Combined General Shareholders Meeting, who will have to take a decision with a majority of two-thirds. The vote of shareholders will be…
DetailsAn opinion issued this week is the first examination by a Scottish court of the principle of ‘modified universalism’ and the requirements for an enforceable floating charge where all the company’s property is situated in a non-UK jurisdiction. This opinion by Lord Tyre in the Court of Session concerns three companies incorporated in Scotland, but…
DetailsMagik Theatre in need of help Bryan Wendland, KENS 5:31 PM. CDT October 11, 2016 SAN ANTONIO — Crumbling walls, broken lights that can’t be replaced and an air conditioning system as old as Hemisfair. Those are just a few of the problems Magik Theatre faces as it pays down hundreds of thousands of dollars…
DetailsInsolvency resolution requires a set of multidisciplinary skills from legal to technical for effective outcomes New Delhi, October 12: The Centre should consider limited liability partnerships (LLPs) as an eligible vehicle for being registered as insolvency professional, say insolvency law experts. The draft regulation on registration of insolvency professionals currently provides that only an individual…
DetailsThe author is a Reuters Breakingviews columnist. The opinions expressed are his own. Deutsche has received a cautious vote of creditor confidence. The German bank is issuing expensive debt. That shows it can access markets, despite a feared $14 billion U.S. regulatory fine. Its less powerful a signal than buying it back, as Deutsche Bank…
DetailsMXG on the TSXOTC:MXGFF on the OTCBB Maxim Power is an independent power producer based in Canada but with it’s major operations in the Northeast United States, followed by France, with the Alberta power market it’s smallest. Maxim shareholders have suffered for a very long time, with promises of growth stymied by the company’s lack…
DetailsAVON, Conn.–(BUSINESS WIRE)–Voluntary carriers surveyed in Eastbridges Administrative Practices of Voluntary Carriers study continue to see increased requests for online self-service capabilities at both the employer and employee levels. Those mentioned most frequently include an online/portal for payments and bill reconciliation, online claims submission for employees, and enhanced integration of all technologies being utilized (enrollment,…
DetailsState-owned lender Lloyds Bank cut 1,340 jobs on Tuesday, as part of a restructuring plan that will see as many as 12,000 staff leave the bank in total. The jobs will go from the operations, retail, customer products and marketing, finance and risk divisions, according to a report by BBC News. The bank, which is…
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