German prosecutors filed a raft of charges against four members of the wealthy Schlecker family on Thursday, accusing them of pulling valuable assets out of their namesake drugstore chain and hiding them from shareholders before the company went bust in 2012. The prosecutors, based in Stuttgart, have leveled 36 counts of embezzlement,…
DetailsMonarch Airlines is eyeing up a number of struggling European rivals as its owners weigh ambitious growth plans for the low-cost carrier. It is understood the airline has shortlisted a handful of potential takeover candidates on the Continent, as part of a wide-ranging strategic review undertaken by Greybull, the investment firm that saved it from…
DetailsThe lonely life of David Gest has been revealed. He is said to have blown thousands of pounds gambling in the months before he died, and left debts of nearly half a million. Punters reportedly saw the entertainer, below in one of his last photoshoots, feeding two of the 50p-a-go slot machines at the same…
DetailsThe problem of large-scale non-performing assets, or NPAs, in the banking sector is at the forefront of the policy debate. Kingfisher Airlines has been in the headlines, as has been the Supreme Court’s request for a list of willful defaulters. There is hope that the proposed Indian Bankruptcy Code (IBC) will solve some…
DetailsIllinois’ public school districts are roughly $20 billion in debt, a staggering figure fueled in part by decades of special deals in Springfield that have given districts exemptions so they can keep borrowing beyond limits set by law. Today, that debt exceeds long-term school borrowing in most other states. It equates to about $10,000 for…
DetailsQuestioning the “business model” of long-grounded Kingfisher Airlines for Vijay Mallya’s mounting woes, Finance Minister Arun Jaitley has said the airline sector as such is doing well in India with many carriers making good profits. Mallya, the owner of Kingfisher Airlines and many other companies that owe over Rs 9,000 crore of dues to lenders,…
DetailsShare 2,045 Tweet Comment Peabody Energy, the worlds largest privately-owned coal company, announced Wednesday that it has filed for Chapter 11 bankruptcy, following a significant downturn in the coal market that left the company saddled with debt. Peabody, which is headquartered in Missouri, maintained that its mines and offices would remain open, and that its…
DetailsKUALA LUMPUR: CLIQ Energy Bhd is considering three methods of liquidation such as members voluntary liquidation, creditors voluntary liquidation and winding up by court order. According to its filling to Bursa Malaysia today, CLIQ said the documentation for all three winding up methods were being considered and/or prepared. CLIQ also said it was not cost…
DetailsGerman finance minister Wolfgang Schäuble has ruled out debt relief for Greece, rebuffing a key demand of the International Monetary Fund even as he warned that the current bailout would fall apart without the IMFs participation. The intervention on the sidelines of the IMFs spring meetings in Washington highlighted growing tensions between the IMF and…
DetailsComments AA When it comes to shareholder activism, much attention has been paid to the long side of things – well-known folks like Carl Icahn and Nelson Peltz who take stakes in companies and agitate for changes they feel will unlock hidden value. But how are the shorts doing? These are the investors who make…
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