Michael King, WXIA 2:03 AM. GMT May 19, 2016 MIAMI, FL – MARCH 02: A Sports Authority store is seen as the company files for Chapter 11 bankrupty on March 2, 2016 in Miami, Florida. The chain of stores owned by private equity firm Leonard Green & Partners will seek to sell or close about…
DetailsA federal jury in Montgomery has convicted an Auburn man on two counts of bankruptcy fraud for concealing assets of his business from the Bankruptcy Court and his creditors Kennon W. Whaley, 51, was convicted in federal court on Tuesday, said George Beck Jr., U.S. Attorney for the Middle District of Alabama. Whaley was the…
DetailsDonald Trump will help to dig New Jersey Gov. Chris Christie and his states GOP out from the mountain of debt incurred during the Bridgegate scandal and the governors failed presidential run. According to the AP, the New Jersey GOP incurred about $500,000 in legal fees as a result of the investigation into the closing of…
DetailsA proposal to reduce the default bankruptcy period from three years to one year has drawn fire from the Personal Insolvency Professionals Association, which says such a move would “incentivise” bankruptcy. Earlier this month the Government issued a consultation paper, saying that current insolvency law puts too much emphasis on penalising and stigmatising failure, and…
DetailsProxy advisory firm Stakeholders Empowerment Services (SES) has asked the shareholders of construction and engineering major Gammon India to vote against the companys proposals to bring an outside investor in certain businesses and provide guarantees to lenders. The debt-laden company has put up a set of resolutions for shareholders approval that will…
DetailsTRENTON, N.J. (AP) Presumptive GOP nominee Donald Trump is helping dig former rival Chris Christie and the New Jersey Republican Party out of big debt they incurred from the George Washington Bridge scandal and the governors presidential campaign. Trump on Thursday will attend a $25,000-per-person fundraiser for the state GOP to help it pay off…
DetailsMay 18 A Ukrainian court has approved a central bank request to freeze the real estate and moveable property of Ukrainian businessman Oleg Bakhmatyuk in connection with the failure by a bank owned by him to repay loans of about $160 million, the regulator said on Wednesday. Last year parliament introduced laws making owners of…
DetailsThe Insolvency and Bankruptcy Code, 2016 In 1999, the Justice Eradi Committee, in its report, had identified 473 winding-up cases that were pending for more than 25 years. The analysis of companies under liquidation as on October 31, 2015, furnished by the Department of Financial Services indicates that there were 1,479 pending winding-up cases for…
DetailsKristin Lammerting was a director of a liquidated company that owes more than $1.7 million to 100 companies. A Northland business liquidated after it ran into financial difficulties owes nearly 100 companies throughout the country more than $1.7 million. The largest amount owed by Kerikeri-based LIG Lammerting Business Investment Group NZ, which traded as Palmco,…
DetailsTom Fox/The Dallas Morning News via AP Republican presidential candidate Donald J. Trump and Governor Christie during a February campaign stop. Governor Christie gave a strong and early endorsement this year to Donald Trump, and on Thursday, Trump will return the favor, taking time out of his schedule for a pair of…
Details