Updated Jan. 3, 2016 8:59 p.m. ET On Labor Day weekend in 1990, as Donald Trump faced the worst crisis of his career, he and Wilbur Ross Jr. headed to Atlantic City, N.J., for talks at Mr. Trumps opulent Taj Mahal casino, which had just opened but was already on the verge of missing a…
DetailsSyrian-born Simon Halabi was director of a UK property firm in the 1980s before becoming Britain’s 14th richest man At his peak he was worth more than £3billion and owned stately home, Mayfair homes, luxury yacht and fleet of cars But was declared bankrupt in 2010 after failing to pay £56m bank loan – last…
DetailsSo Christmas is done, but many families across Buckinghamshire will be worrying about how to pay off the bills that soared in December. The Citizen’s Advice Bureau in Aylesbury told us that they saw a rise in the number of people going to them last January and expect the same again. Benedicta Lasoye, from the…
DetailsNaomi Halpern has been named as the lead Victorian Senate candidate for Nick Xenophon’s new political party. Photo: Wayne Taylor/Fairfax Media Naomi Halpern, a victim of bad financial advice who was caught up in the collapse of forestry investment scheme Timbercorp, will take the fight up to financial sector and the corporate watchdog at the…
DetailsIf you haven’t made partner, you haven’t failed This year will be marked not only by a sweep of fresh class actions, but an increase in corporate legal battles as litigation funders bring online a range of new products. Executive chairman Philip Kapp of listed funder JustKapital said the main area of concentration for litigation funders over the next year was…
DetailsTALLINN, Estonia (AP) An Estonian court has formally declared the Baltic nations state-owned airline bankrupt after it ceased operations last month following a European Union order to repay millions in state aid. The Harju County Court said Tuesday that the bankruptcy proceedings for Estonian Air are to be carried out immediately, with the first…
Details©Bloomberg The rate at which UK property companies entered insolvency reached its highest point in six years in 2015 as rising property values prompted lenders to put zombie companies out of their misery and reclaim their assets. Some 346 property companies went out of business in the second quarter of 2015, the most recent period…
DetailsHOUSTON–(BUSINESS WIRE)–Swift Energy Company (OTC PINK: SFYW) (the Company) announced today that it has reached an agreement with holders of a majority of its senior notes to convert all senior notes to equity pursuant to the terms of a restructuring support agreement signed today. Under the agreement, existing equity holders are to retain four percent…
DetailsYOURSAY | Part of our prized assets is sold to China, wouldn’t your pride be dented? Najib: As promised, 1MDB’s winter is over Saya Pun Nak Cari Makan: On the contrary, PM Najib Abdul Razak. Your nightmare has just begun. In the first place, where has the billions in cold cash disappear to? Selling an…
DetailsOn Thursday afternoon, EMC announced in a filing with the SEC that it was going to do another round of layoffs. It did not say how many people it will be cutting. It did say that the cuts would cost it about $250 million and said that this was part of its previously announced plans…
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