Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, said on Tuesday that the government is working on a new personal insolvency law that would apply to individuals. His comments follow the news that the UAEs new bankruptcy law, which protects companies that cannot pay their debts from criminal prosecution, has been approved…
DetailsA group of aggrieved shareholders in Merlin Diamonds planning a board spill say they will report the company to the corporate watchdog after their fellow investors voted to increase the shareholdings of the family of recent bankrupt “Diamond” Joe Gutnick. On Tuesday, the majority of Merlin shareholders voted to approve parts of a $2.3 million recapitalisation proposal…
DetailsThe Supreme Court today came down hard on real estate developer Supertech saying that it must return the money to 17 flat buyers of its Emerald Court project in Noida even if the company is declared bankrupt, or dead. We dont care. It has to refund its buyers, the court observed. In its order, the…
DetailsIts hard to come up with a better example of just how topsy-turvy the global corporate tax situation is than Irelands effort to prevent Apple Inc. from paying it more than $14 billion in back taxes. The country, which only a few years ago was digging out of insolvency, doesnt want the money. Instead the…
DetailsA police inspector is facing the sack after allegedly deceiving friends and colleagues into lending him thousands of pounds to pay off huge gambling debts. Jon Percival, a Tactical Aid Unit officer, is accused of concealing the true extent of his financial crisis – being more than £100,000 in debt – when he repeatedly asked…
DetailsBy Josh Boak, The Associated Press More Americans are getting buried by student debt causing delays in home ownership, limiting how much people can save and leaving taxpayers at risk as many loans go unpaid. The statistics look daunting. Student debt now totals around $1.26 trillion. This amounts to a stunning 350 percent increase since…
DetailsHong Kong boutique Howse Williams Bowers (HWB) has hired a team of restructuring and insolvency lawyers from Ashurst, led by partner Bertie Mehigan. Mehigans appointment continues a year of key partner hires for HWB, which has added Janet Lee from the Hong Kong governments Lands Department, Antony Yung from JP Morgan and Christopher Yu from…
DetailsA police inspector is facing the sack after allegedly deceiving friends and colleagues into lending him thousands of pounds to pay off huge gambling debts. Jon Percival, a Tactical Aid Unit officer, is accused of concealing the true extent of his financial crisis – being more than £100,000 in debt – when he repeatedly asked…
DetailsIn the next few weeks, an election event will take place that I believe could trigger major volatility ending in the market crash. I believe it is too late to reverse the tidal wave of our financial systems failure that has been brewing for three decades now. It will soon end in a speculator implosion…
DetailsSept. 5, 2016 11:56 p.m. ET SEOULSouth Koreas Hanjin Group said it would put up 100 billion won ($90 million) to help out Hanjin Shipping Co. 117930 25.23 % , as the troubled shipping affiliate struggles to get its stalled supply chain moving. Although the company is already under court receivership, weve decided to help…
Details