The government should launch an investigation into Sir Philip Greens conduct as a company director if allegations emerge that he failed in his obligations while owning BHS, Sir Vince Cable, the former business secretary, has said. BHS shareholders led by Green, and the billionaires family, withdrew more than £580m in dividends, rental payments and interest…
DetailsCompany lawyer tells bankruptcy judge that retailer will not reorganize but will instead pursue full sale Sports Authority won’t come out of bankruptcy as an independent company and instead wants to sell off all its holdings. “It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale,”…
DetailsMusclePharm headquarters at 4721 Ironton St. in Denver Google Maps image MusclePharm Corp. said Wednesday it has a deal to sell a subsidiary, BioZone Laboratories Inc., for $9.8 million. The pending sale to Valencia, California-based Flavor Producers Inc. “is the latest step in MusclePharm’s restructuring plan,… Read the full article at: http://www.bizjournals.com/denver/news/2016/04/27/musclepharm-selling-off-subsidiary-for-9-8m-amid.html
DetailsStruggling companies should be given up to six weeks free from creditor pressure to plan a recovery or rescue, according to the North East chair of insolvency trade body R3. In a week when two major UK retail names filed for administration, Neil Harrold, who is also a partner with Hay & Kilner Solicitors, has…
DetailsBy Associated Press Published: 22:35 EST, 27 April 2016 | Updated: 22:35 EST, 27 April 2016 BUCHAREST, Romania (AP) Prosecutors in Romania say they have questioned a media owner on suspicion of tax evasion worth 8 million ($9 million). Prosecutors took Cristian Burci, owner of Prima TV and the daily Adevarul, for questioning Wednesday after…
DetailsBond sales helped Ireland’s central bank to a record profit of 2.2 billion euros last year, 1.8 billion of which has been paid to the state to help cut a national debt that stood at 94 percent of annual economic output at the end of 2015. The surplus income paid to the state has increased…
DetailsMichael Garnham is accused of not paying the company’s tax. A company closely tied to a former Abel Tasman beach owner has been put into liquidation. The Inland Revenue Department (IRD) applied to put Sams Bay Holdings into liquidation in March 2015, seeking to recover more than $250,000. This year, a new application was filed…
DetailsDominic Chappell transferred cash into BHS Sweden after news at meeting Swedish company has no links to BHS and not listed with Companies House Board noticed and demanded he return cash to the business, which he did Sum was £50,000 short – which he claimed was cost of converting currency By James Dunn For Mailonline…
DetailsChinese flag waves in front of the Great Hall of the People in Beijing, China, October 29, 2015. Reuters/Jason Lee China’s massive corporate debt problem could be eased through debt-to-equity conversions or securitization of non-performing loans, the International Monetary Fund said on Tuesday, but only if these apply to viable firms that undergo restructuring. The…
DetailsBy David Lawder WASHINGTON, April 26 (Reuters) – China’s massive corporate debt problem could be eased through debt-to-equity conversions or securitization of non-performing loans, the International Monetary Fund said on Tuesday, but only if these apply to viable firms that undergo restructuring. The IMF said in a blog posting on its website that it welcomes…
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