SKÄRHAMN, Sweden–(BUSINESS WIRE)–Regulatory News: With reference to previous communication related to the ongoing financial restructuring of Viking Supply Ships A/S (VSS A/S): The company has now reached an agreement with the committee representing a majority of the outstanding bonds. Subject to approval of the proposal at a bondholders meeting, this finalizes the total financial restructuring of…
DetailsSeafood Expo Global, May 2015, Brussels, Belgium. Photo: Miriam Okarimia/ Undercurrent News You may also like: August 29, 2016, 3:25 pm Pacific Andes group executives are disputing creditors’ notion that the Peruvian insolvency proceedings for its fishmeal companies can block the New York court’s access to those assets. In recent days, Pacific Andes International Holdings…
DetailsThe average debtor in the UK owes £16,753, according to figures from PayPlan. The company, which offers free debt advice, also revealed that borrowers in Essex owe the most with an average balance of £18,508, according to its customer research. Debtors in Cambridge and Belfast follow close behind in the list of debt hotspots, each…
DetailsThe Alba Iulia Court of Appeal cancelled the insolvency of state-owned energy producer CE Hunedoara at the end of May, but the company filed again for insolvency at the end of June. The two-month intermezzo worsened the companys financial indicators as its total debt went up by almost EUR 22.5 million, reports local Profit.ro. The…
DetailsShare Tweet Share Share Share Email Doom and gloom: Small businesses are facing mountains of cash flow challenges, according to recent research reports. From unclear bank terms for small business customers to rising small business insolvencies due to late payments and even new data on suppliers posing unfair terms on small business clients, the analysis from…
DetailsTroubled trucking and logistics firm McAleese has gone into voluntary administration, saying it is insolvent or likely to become insolvent. The move comes after the firm’s financiers, led by high-risk debt investor SC Lowy, pulled the pin on a deal struck in early June to recapitalise the company because it did not meet the…
DetailsWomens clothing retailer Seduce has entered voluntary administration and its Australian bricks-and-mortar stores have closed, just weeks after being hit by a wind-up notice from its landlord. Administrators from Deloitte were appointed to Seduce Pty Ltd on August 16, with Michael Billingsley and Neil Cussen acting as joint administrators. Billingsley and Cussen were subsequently appointed as…
DetailsSYDNEY (AP) Qantas Airways Ltd. posted a record full-year profit of 1.53 billion Australian dollars ($1.1 billion) on Wednesday, after undergoing a cost-saving restructuring amid steep losses just two years ago. The airline’s result for the fiscal year through June is a 57 percent boost over last year’s profit of AU$557 million, and prompted Qantas…
DetailsJoyce Laboso, the National Assembly Deputy Speaker. PHOTO | FILE By EDWIN MUTAI, [email protected] Sunday, August 28 2016 at 16:44 Farmers have sought the intervention of Parliament in their latest bid to establish the extent of insolvency of Chemelil Sugar Company. Cane farmers from Kisumu and Nandi counties have petitioned Parliament to order forensic audit…
DetailsA JUDGE will decide in the coming weeks whether or not a proper environmental order was given to Linc Energy founder Peter Bond earlier this year, directing him to clean up an underground gas project site near Chinchilla. The Queensland Department of Environment issued Mr Bond with the environmental protection order in May, stating it…
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