One of the big bads from the 1980s is starting to emerge again in Alberta. Jingle mail the act of walking away from an underwater mortgage by mailing your keys back to the bank is a peculiarity of the Alberta residential market and an act of desperation. However, a combination of high debt and lost jobs make it an option…
DetailsA director caused more than £250,000 of stock to be transferred from a failing company to another business of which he was also a director. The move, by Christopher Lister, of GMS Stone Supplies Ltd, meant creditors, including the HMRC, who were owed more than £170,000, lost out…
DetailsHamburg-based Hansa Heavy Lift (HHL), which specializes in super heavy lift, heavy lift and project cargo, says it is looking to step up its involvement in the offshore industry with a particular focus on transportation and installation (T&I) in the subsea oil and gas market as well as the offshore windfarm sector. Wholly owned by…
DetailsRussia’s central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount. Russia’s 67th lender by assets, Intercommerz had failed to adequately assess risks despite the poor quality of its assets, the central bank said. “At the same time…
DetailsWorld Bulletin / News Desk Russia’s central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount. Russia’s 67th lender by assets, Intercommerz had failed to adequately assess risks despite the poor quality of its assets, the central bank said.…
DetailsThe agriculture companies InterAgro SRL Zimnicea and InterAgro SA, owned by the Romanian billionaire Ioan Niculae, entered insolvency. The Teleorman Court admitted the demand of several creditors for the insolvency of the two companies run by Ioan Niculae. The company InterAgro SRL controls the largest part of Niculaes businesses in agriculture and industry…
DetailsNant whisky distillery at Bothwell, Tasmania An investor in Nant, IT consultant David Kavanagh, says Nant Distillery refused to allow him to take his whisky out of its investment scheme to another bond store, even though he had applied to the Australian Tax Office for permission and had organised placement in another secure facility. Mr Kavanagh said…
DetailsYOURSAY He claims to have resolved his bankruptcy, but was he discharged? Ramesh Rao to sue Sarawak Report over ‘bankrupt’ label Victor Johan: Ramesh Rao, you had previously in July 2015 admitted to being a bankrupt, and now you have travelled to a foreign land and claimed that your bankruptcy problem has been “resolved”. To…
DetailsThe company with the licence to sell Jeep clothing and footwear in Australia has collapsed into voluntary administration. The collapse comes around 10 years after Jeep opened its first concept store in Melbourne through local licensee Revolution Brands. Revolution Brands appointed voluntary administrators last week, with Barry Wright from Cor Cordis Chartered Accountants acting as…
DetailsIn Better Bankers, Better Banks: Promoting Good Business through Contractual Commitment, Claire A. Hill and Richard W. Painter provide an account of the changes to banking that encouraged the risk-taking that became a factor in the global financial crisis, and propose a solution: covenant banking. The authors suggestion of binding bankers to contracts that encourage accountability…
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