U.S. Steel is using the L word again liquidation. The American former parent to U.S. Steel Canada says it opposes a new process to sell the Canadian icon, now independent and under creditor protection, unless it also considers the liquidation value of the company. U.S. Steel Canada goes to court on Monday…
DetailsGlaxoSmithKline should be split, star investor Woodford says 8 January 2016 From the section Business Image caption Neil Woodford (left) tells the BBC’s Adam Parsons that his biggest mistake may have been not investing more in tobacco The UK’s biggest drugs company should be split up, says one of Britain’s most successful and influential investors.…
DetailsWith Dick Smith entering receivership and home furnishings company Laura Ashley Australia appointing administrators this week, you might be forgiven for thinking that January is a particularly bad time for corporate collapses. Receivers were appointed to Dick Smith on Tuesday, with the electronic retailers 393 Australian and New Zealand stores no longer honouring outstanding gift…
Detailsby Patrick Hatch and Sally Rose Dick Smith has gone into voluntary administration, with receivers appointed to try to claw back debt owed to the company’s creditors. The electronics goods chain entered a share trading halt on Monday, pending an announcement about its “funding position and debt financing covenants”, and on Tuesday morning it announced that advisory firm McGrath Nicol…
DetailsSunEdison, a solar manufacturing company, fell 35% on Thursday after the company announced that it intends to raise money and restructure its debt in order to pay back $738 million worth of debt. Now, you may be thinking, debt reduction, thats a good thing. Well, like many things in life, the devil is in the…
DetailsImage: AAP/Mick Tsikas Those looking for the detail on insolvency changes announced in the Federal Governments long awaited innovation statement wont find it on the government website. But the Productivity Commissions report, Business set-up, Transfer and Closure, also released yesterday, acts as a companion piece to explain the Federal Governments intention to introduce significant changes to Australias…
DetailsUnited Kingdom Financial institutions – Secured recoveries 07-01-2016 In this update: Secured recoveries litigation Sales in possession Case law update Our case law update includes coverage of the following key cases on secured recoveries, title rectification and sales in possession. Download the update. Does an LPA Receiver owe any duties to a bankrupt borrower? Rajinder…
DetailsCredit Card Debt Consolidation might be a strategy for you Debt consolidation is a repayment strategy involving a NEW loan to combine and cover your other loans or debts. So instead of paying several minimum monthly payments on several bills, you can repay all of your debts with one monthly payment. Debt consolidation is one…
Details(Reuters) – Detroit’s public school district is drowning under $3.5 billion of debt and needs to be rescued by the state of Michigan, according to a report by a nonprofit public affairs group released on Wednesday. The Citizens Research Council of Michigan said debt payments by the Detroit Public Schools (DPS) are consuming revenue required…
DetailsPKC Group Plc Company Announcement 7 January 2016 8.00 am PKC’s tax appeal for the business restructuring carried out in 2009 rejected by Finlands Board of Adjustment PKC Group Plc has received a decision from the Board of Adjustment of the Finnish Tax Authorities, according to which PKC Group Plc would be obliged to pay EUR 8.3…
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