Bankruptcy

Pope Francis, It is Time for Institutional Changes – Bankruptcy News Today

Pope Francis you must remove Bishops and Cardinals that protect and enable sexual predators and pedophiles and you must publicly request the resignations of any person in governmental authority that is involved in such evil. The world is watching and now is the time for great changes to come to the Church and to other powerful institutions My hope and appeal to you Pope Francis, is for you to do what is right and just for the defenseless now and…

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Sabah Electricity on verge on insolvency, says Energy Minister – Business News

KUALA LUMPUR: The fate of loss-making Sabah Electricity Sdn Bhd (SESB), which is on the verge on insolvency, will hinge on the ongoing discussion among its major shareholder Tenaga Nasional Bhd (TNB), the Energy, Green Technology and Water Ministry (KeTTHA) and Ministry of Finance (MoF).  “The discussion is crucial, especially since SESB continues to make losses and on the verge of insolvency,” KeTTHA Minister Datuk Seri Dr Maximus Ongkili said on Friday.   TNB owns 82.75% of SESB and the Sabah…

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Wallace leaves behind debts of €30m as he exits bankruptcy

A year after being declared bankrupt, Independent TD Mick Wallace is scheduled to walk away from debts of more than €30m. Mr Wallace was adjudicated a bankrupt at the High Court on December 19, last year on foot of a €2m judgment debt. He was therefore scheduled to leave bankruptcy yesterday. Mr Wallace had been allowed to remain on in the Dáil over the past 12 months after the law was changed in 2014. Previously, TDs would automatically lose their…

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Coronation Street star Michael Le Vell enjoys pub lock-in as fiancée Louise Gibbons shows off engagement ring amid ‘looming bankruptcy’

Michael Le Vell shocked fans when he was seen supping pints in a Manchester beer garden. The actor, who plays Kevin Webster in Coronation Street , was spotted with his fiancée Louise Gibbons, who flashed her engagement ring as the pair sat together to watch the Manchester Derby last week. The star has reportedly been left facing bankruptcy after spending £200,000 fighting child sex claims that were brought against him last year. Michael, 53, and Louise sit together in the…

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Xceligent files for bankruptcy, closes down and lays off 300 workers amid court battle with CoStar

About 500 local employees are out of work in the midst of holiday season after Blue Springs commercial real estate listing company Xceligent shut down late last week. Employees were given 30 minutes to leave Xceligent’s offices last Thursday, according to two former employees. That was after the company filed for liquidation in U.S. Bankruptcy Court of Delaware. Most of the company’s operations were in Blue Springs and Sedalia in Missouri and Overland Park, Kan. Xceligent, founded in 1999, can…

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Bankruptcies filed Nov. 28 and Dec. 7-13, 2017

ADDRESS: 5201 Oneida St., Duluth CHAPTER 7 DATE FILED: Nov. 28 ASSETS: $201,656.03 LIABILITIES: $1,212,773 DEBTOR: Heather R. Bushey ADDRESS: 20 Dewberry Lane, Duluth CHAPTER 7 DATE FILED: Dec. 7 ASSETS: $7,300 LIABILITIES: $29,388.73 DEBTOR: Mari E. Beltezore fka Mari E. Leathers dba Mari E. Beltezore ADDRESS: 132 Second St. N., Eveleth CHAPTER 7 DATE FILED: Dec. 7 ASSETS: $46,024 LIABILITIES: $128,814 DEBTOR: Donette M. Lindblad fka Donette M. Cook ADDRESS: 216 Seventh St., Duluth CHAPTER 7 DATE FILED: Dec.…

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insolvency: Aurobindo, Dr Reddy’s Laboratories frontrunners to buy out bankrupt Orchid Pharma

MUMBAI: Indian drug companies Aurobindo Pharma Ltd. and Dr Reddy’s Laboratories Ltd. are emerging as the frontrunners to buy out bankrupt Orchid Pharma Ltd. as they seek to expand their capacities. A key player in injectibles and active pharmaceutical ingredients (API) in its heyday, Orchid has received interest from 7-8 companies including international private equity funds and stressed asset buyout firms, people familiar with the development said. Aurobindo Pharma and Dr Reddy’s, both based in Hyderabad, did not respond to…

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Avaya emerges from bankruptcy – ARN

Just weeks after saying it would emerge from Chapter 11 bankruptcy by the year’s end, Avaya has announced that it has successfully completed its debt restructuring and emerged from chapter 11. The unified communications vendor filed for Chapter 11 bankruptcy in the United States in January , moving to reorganise the company to reduce its pre-filing debt, strengthen its balance sheet and improve financial flexibility. In April, the company unveiled worsening financial numbers as it continued to combat rising debt…

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More Retirees Than Ever Are Filing for Bankruptcy — Here’s Why — The Motley Fool

Most people think bankruptcy is something they’ll never have to go through. You may think that because you’re diligent about spending less than you earn and avoiding excessive debt, you could never go bankrupt. However, the number of people filing for bankruptcy is increasing, especially among seniors. People aged 55 and older account for about 20% of total bankruptcy filings — a number that’s doubled since 1994, according to a study from Debt.org. And even financially responsible people go bankrupt far…

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BJP MP at insolvency proceedings of 5-star hotel | India News

NEW DELHI: A sitting BJP Member of Parliament from Gujarat attending the recent insolvency proceedings of a five star hotel in west Delhi has raised eyebrows. The MP’s recently floated firm is one of the resolution applicants and the company is registered at his official address in South Avenue in the national capital. Minutes of the meeting of committee of creditors (CoC) held on November 30 mention that when the resolution professional asked the details of the Paadm International Hotels…

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Jaya Bhattacharya: Jaya Bhattacharya rubbishes rumours of being bankrupt | Lucknow News

Lucknow-born actress Jaya Bhattacharya, best known for her role as Payal in Kyunki Saas Bhi Kabhi Bahu Thi, was in for a shock earlier this week when news of her being bankrupt started floating around. The Devdas actress started getting calls and messages from friends and well-wishers asking her how they could help. “Suddenly I was inundated with calls and messages from relatives and friends asking me how they could help. I was perplexed why this was happening. Then my…

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Spareparts has no spare change: Saskatoon-based company goes bankrupt and cuts off gift cards – Saskatchewan

If you purchased a gift card with any Spareparts store, you may be disappointed to learn you can’t buy anything with it. The Saskatoon-based sunglasses and accessories stores filed for bankruptcy in October, but kept selling the pre-paid denominations up until they went into receivership on Dec. 12.  ‘Knowing I threw that much money in the garbage at Christmas is devastating.’ – Brooklynn Leibel A new policy set in place indicates gift cards will no longer be reimbursed or redeemed in-store, according to a sign posted at the…

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Sears Kmart bankruptcy talk resurfaces as year ends

Getty Images Sears’ sales are down 45% since early 2013, its debt load has spiked to over $4 billion, and the company is losing well over $1 billion annually.  To meet its obligations, Sears has been selling off valuable brands and properties. Now its pool of assets is dwindling, increasing the risk of a bankruptcy, analysts say. Kmart, in particular, is at risk of shutting down, as it loses market share fast.   Wall Street analysts have made the same…

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Insolvency risk hits 2017 highpoint among West Midlands companies, report warns

The number of firms in the region at an elevated risk of insolvency is now at its highest point so far this year, with significant increases across every key business sector. Transport and technology companies are at the highest risk, according to the study from restructuring and insolvency trade body R3. But manufacturing and hotels are the two most resilient sectors. The latest statistics from R3 show nearly one in three business in the region are in the elevated insolvency…

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