by Jim Brunsden and Patrick Jenkins In the late afternoon of November 28, Luigino D’Angelo typed a suicide note on his computer. Twenty minutes later he hanged himself from the banister of his home in the Italian city of Civitavecchia. The 68-year-old pensioner, a former employee of energy group Enel, had lost his life savings…
DetailsOM Holdings Limited (ASX:OMH) wholly owned subsidiary OM (Manganese) Limited has entered voluntary administration as trading conditions damage the companys financial position. The manganese miner cited the significant global decline in the demand of manganese and market outlook as adversely affecting the companys financial position, despite efforts to reduce operating costs at its Bootu Creek…
DetailsThe breadth of Dick Smith’s woes became public when it abandoned its profit guidance. Photo: Glenn Hunt 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 trading halt on Monday, pending an announcement about its “funding position…
DetailsA waste-to-energy company hoped to be a future for Sault Ste. Marie’s garbage has gone into receivership. Elementa Group Inc. appeared in an Ontario Superior Court of Justice on Dec. 21 after its former lawyers Bennett Jones, filed a petition with the courts that declared them insolvent. Ontario Superior Court of Justice Glenn Hainey ordered…
Details(ANSA) – Rome, January 4 – Industry Minister Federica Guidi on Monday signed a decree putting up for sale companies and plants in the troubled ILVA steel group. The tender for expressions of interest will be published Tuesday, sources said. Earlier this month the cabinet extended an environmental cleanup deadline for ILVA in order to…
DetailsBailouts in Europe should be a thing of the past but will the EU follow its own new rules? In the late afternoon of November 28, Luigino DAngelo typed a suicide note on his computer. Twenty minutes later he hanged himself from the banister of his home in the Italian city of Civitavecchia. The 68-year-old…
DetailsJames R. Barth Auburn University; Milken Institute Clas Wihlborg Chapman University; University West December 17, 2015 Abstract: Too big to fail traditionally refers to a bank that is perceived to generate unacceptable risk to the banking system and indirectly to the economy as a whole if it were to default and unable to fulfill…
DetailsThe number of companies declared insolvent in Galway City and County in the first nine months of 2015 dropped slightly on the same period in 2014. Statistics compiled for the Connacht Tribune for the first nine months of the 2015 the most up-to-date figures available shows there were a total of 38 insolvencies recorded in…
DetailsA man told his debtor he could pay him back by cooking cocaine but that he would have to take all the blame if caught by police, the Court of First Instance heard today. Lam Wai-kuen, 25, denies one count of conspiracy to manufacture a dangerous drug and one of conspiracy to traffic dangerous drugs.…
DetailsA Chinese government-backed shipbuilder Zhoushan Wuzhou Shipyard has been declared bankrupt by a local court in Zhejiang province, reports said. Zhoushan Intermediate Peoples Court said it has accepted a filing by Zhejiang Shipping Group regarding the bankruptcy of Wuzhou Shipyard, one of its subsidiaries. The latest case makes Wuzhou Shipyard the first state-backed shipbuilder to…
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