Bankruptcy

Mybet to file for insolvency after strategic investor talks fail

German online gambling operator Mybet has announced its intention to file for insolvency after failing to come to terms with a would-be financial savior. On Tuesday, Mybet issued a statement indicating that its board of directors was preparing an application to open insolvency proceedings after talks with a strategic investor failed to produce an agreement. The company expects to file its application on Friday. In July, Mybet announced that it planned to sell its customer-facing online gambling operations to an…

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Katie Price ‘begs ex Peter Andre for help after he extends an olive branch amid bankruptcy woes’

Her ex husband Peter Andre, 45, reportedly tried to get in contact, even after years of tension.  And Katie Price is said be ‘begging’ for the help of her former flame as she tries to avoid bankruptcy.  According to Closer Magazine,  the former glamour model, 40, felt she had no where else to turn, and was ‘scared’ for her future.  Helping out: Katie Price, 40,  ‘pleaded ex Peter Andre for help after he extended an olive branch to her amid…

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Opinion | Bankruptcy and the Elderly

letter A reader explains why today’s senior citizens are particularly vulnerable. CreditRoger Kisby for The New York Times To the Editor: Re “Bankruptcy Booms Among Older Americans as Safety Net Frays” (front page, Aug. 6): A downside for senior citizens whose circumstances caused them to file for bankruptcy not mentioned in the article is the loss of dignity they experience, unlike businesses that see bankruptcy as a wise business decision to protect them against creditors. Also not mentioned is the…

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Insolvency process: Sajjan Jindal’s JSW makes top bid for Bhushan Power

Sajjan Jindal-controlled JSW Steel has made the highest bid for Bhushan Power & Steel in the second round of bidding for the asset in going through the insolvency process. The result of the bidding process was declared on Tuesday. JSW’s revised offer stands at Rs 193.5 billion, up from Rs 110 billion submitted in February. Bhushan Power owes its lenders around Rs 470 billion. Tata Steel, which had been selected as the…

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Online tool now helps creditors identify those facing insolvency

The Courts of Justice, in partnership with the Registrar of Companies, has acquired an EU grant to develop an integrated National Insolvency Register that will in future be interconnected to the European e-Justice Portal. This electronic register aims to provide information to the public about entities and traders that are facing insolvency and provides information that is relevant to creditors such as the case reference, date registered, court name, termination date, type of proceedings, article, insolvency practitioner, time limit for…

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Euronext Acquires 8% of Fastmatch from Dmitri Galinov

The spat between Euronext and the founder and former CEO of Fastmatch Dmitri Galinov is escalating quickly. After we reported on Monday on the former executive’s decision to file a lawsuit against the company, Euronext announced on Tuesday that it acquired a further eight percent interest in the eFX trading venue. Galinov claims in a new lawsuit against the company and its parent Euronext that he was unfairly dismissed. Whoa! London Summit’s new site is LIVE Contrasting Views from Fastmatch…

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On its Independence Day, Pakistan stares at bankruptcy

As Pakistan celebrates its Independence Day today, it is also grappling with a big economic crisis. The State Bank of Pakistan has only about $10 billion of foreign exchange reserves, which may not be enough to fund imports after two months. The country runs a serious risk of defaulting on its payments. The situation poses a challenge to Pakistan’s prime minister-elect Imran Khan who will be sworn in on August 18. Imports exceed exports The balance of payments crisis originates…

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Katie Price shamelessly promotes a brightening blue face mask amid her bankruptcy woes

Katie Price, 40, shamelessly promoted a blue face mask for Zero Skin on Instagram on Monday after she was given three months to pay off her £250,000 debt. The businesswoman, who was once estimated to be worth £45million, asked her 1,900,000 followers to ‘swipe up’ for more information about the beauty product. In the extreme close up snap, the former glamour model lathered the brightening blue substance on her face to promote the brand amid her bankruptcy woes. Scroll down…

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Insolvency process: Bhushan Power CoC may take a call on revised bids today

The committee of creditors (CoC) for Bhushan Power & Steel is likely to meet on Tuesday to take a call on revised bids. All three bidders of Bhushan Power & Steel — Tata Steel, JSW Steel and Liberty House — had the opportunity of submitting revised bids on Monday according to the National Company Law Appellate Tribunal (NCLAT) order. According to information, Tata Steel has submitted a revised bid. Asked about Tata Steel’s participation,…

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BCBG opens concept in Soho a year after exiting bankruptcy

Brief Dive Brief: New BCBG Max Azria owners Marquee Brands and Global Brands Group have added to the brand’s store count with a new location in New York City’s SoHo neighborhood, according to a press release emailed to Retail Dive. They also maintain the brand’s original flagship on Fifth Avenue in Manhattan. The 5,200-square-foot space features an updated updated store concept and layout and sells sportswear, dresses, shoes, handbags, jewelry and a new denim line, according to the report.  Marquee and…

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Wonga investors raise £10 million to save company from insolvency

  Elul 2, 5778 , 13/08/18 Once hailed as fastest growing company in Europe, firm faced difficulties after surge in compensation claims and regulatory clamp-down. Last Briefs <![CDATA[]]> <![CDATA[]]> (function() { var _fbq = window._fbq || (window._fbq = []); if (!_fbq.loaded) { ExecuteJS( ‘https://connect.facebook.net/en_US/fbds.js’) _fbq.loaded = true; } _fbq.push([‘addPixelId’, ‘896016780422435’]); /*a7*/ })(); window._fbq.push([‘track’, ‘PixelInitialized’, {}]); Source link

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This Day In Market History, August 13: Russian Stocks Drop 6% On Government Insolvency Fears

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day 20 years ago, the Russian stock market crashed 6 percent on fears that the Russian government would default. Where The Market Was The Dow Jones Industrial Average closed at 8,459.50 and the S&P 500 traded at 1,074.91. Today, the Dow is trading at 25,313.14 and the S&P 500 is trading at 2,833.28. What Else Was Going On In…

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Fesenmyer Cousino Weinzimmer: As Financial Apps Grow in Popularity, a Bankruptcy Law Firm Urges Caution – Bankruptcy News Today

Fesenmyer Cousino Weinzimmer: As Financial Apps Grow in Popularity, a Bankruptcy Law Firm Urges Caution – Bankruptcy News Today – EIN News Trusted News Since 1995 A service for global professionals · Monday, August 13, 2018 · 458,531,560 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

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Asteros declared bankrupt – Telecompaper

A Moscow court has declared the bankruptcy of Russian networks integrator Asteros, reports Cnews.ru. Debts of the company to banks and partners total at least RUB 8.5 billion. The bankruptcy was initially initiated by Asteros earlier this March. Creditors of the company, including Sberbank, Tinkoff Bank and other companies, joined the legal proceedings later.      Revenues of Asteros totaled RUB 21.4 billion in 2016. Source link

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8 special courts likely to hear insolvency cases

These courts will be set up in Mumbai, Delhi, Chennai, Kolkata, and Hyderabad The corporate affairs ministry has proposed setting up special courts under the National Company Law Tribunal (NCLT) to deal with insolvency cases. Ministry officials say eight courts are proposed to be set up for this purpose. “These courts will be set up in Mumbai, Delhi, Chennai, Kolkata, and Hyderabad,” a senior ministry official said.   While three courts are proposed to be set up in Mumbai, two…

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Opinion | Don’t dilute Insolvency and Bankruptcy Code

Illustration: Livemint Policy entropy is usually a slow process. The sheer scale of the bad loans problem has ensured that attempts to chip away at the landmark Insolvency and Bankruptcy Code (IBC) have begun just 15 months after it was written into law. The Reserve Bank of India (RBI) is under pressure to dilute its 12 February circular that abolished the previous alphabet soup of regulatory forbearance. The Indian central bank has asked lenders to consider even those with one…

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