Insolvent

Insolvent News

Biggest Rally in 76 Years Not Dead as Seers See Gains (Update1) Thursday, March 11, 2010 @ 10:51AMLaszlo Birinyi will never forget the moment a year ago when the last ounce of confidence disappeared. Everyone from billionaire Warren Buffett to New York University Professor Nouriel Roubini was convinced that the economy was in a free-fall, that exploding deficits would devastate the dollar and that home prices were heading down as much as 20 percent.
Credit crunch hits another Wensley firm Thursday, March 11, 2010 @ 10:16AMAnother company in Invercargill property developer Ross Wensley's Queenstown empire has been placed into liquidation.
Trust payments spark court bid Thursday, March 11, 2010 @ 10:14AMMoney allegedly salted away by Bridgecorp boss Rod Petricevic is at the centre of High Court proceedings.The case was deferred yesterday but is due to return to court soon.The Official Assignee has a series of actions against...
Cox: Feel-good Coyotes can't escape financial cloud Thursday, March 11, 2010 @ 9:48AMMaybe it's time Gary Bettman looked at owning an NHL team of his own. After all, Bettman's record, or at least that of the league, is pretty good when it comes to operating bankrupt organizations and nursing them back to health.
Bernanke's Dilemma: Hyperinflation and the US Dollar Thursday, March 11, 2010 @ 9:38AMBen Bernanke, Chairman of the US Federal Reserve, faces a Sisyphean task because US banks are experiencing debt deflation and, because lending is now at much lower levels, monetary deflation is encumbering the domestic US economy as existing debts continue to be serviced.
The Paper Bubble Thursday, March 11, 2010 @ 8:57AMTalk of a Gold bubble over the past 6-9 months grows louder and louder. It is comical and a sign of desperation among those losing their grip on the levers of power and influence.
Asper Family Among Bidders for Canwest Newspapers, Globe Says Thursday, March 11, 2010 @ 7:58AMMarch 11 (Bloomberg) -- The Asper family, who once controlled Canwest Global Communications Corp. , is bidding to regain control of the insolvent company’s newspaper unit, Canwest LP, the Globe and Mail reported.
Firethorne Country Club fires back at its lender Thursday, March 11, 2010 @ 7:57AMMARVIN, N.C. -- A business development consultant with Firethorne Country Club says the club's owners are shocked that its lender has asked the courts to appoint a receiver to run the property. The club had Textron Financial Corp.'s approval to try to raise money to repay its debts and invest in its future but then the lender "blindsided" them because it is losing money itself, said Steve Holmes ...
Regus's insolvency strategy enrages property trade body Thursday, March 11, 2010 @ 6:40AMOne of the largest office providers, Regus, has angered landlords by using an insolvency process to negotiate reductions in rent on some of its properties.
DJ DGAP-PVR: PETROTEC AG: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act ... Thursday, March 11, 2010 @ 6:40AMPETROTEC AG / Release of an announcement according to Article 21, Section 1 of the WpHG [the German Securities Trading Act] (share) 11.03.2010 12:42 Dissemination of a Voting Rights announcement, transmitted by DGAP - a company of EquityStory AG.
Chester City gone in 30 seconds Wednesday, March 10, 2010 @ 10:58AMFootball clubs are fighting for survival, not on the pitch but in the court.
Big crowd supports blossom festival Wednesday, March 10, 2010 @ 10:30AMThe Alexandra Blossom Festival has a heartbeat again, judging by the groundswell of support shown by more than 350 people who flocked to a meeting in the town last night to decide the event's future.
Pre-need implementing rules out Wednesday, March 10, 2010 @ 10:27AMRULES IMPLEMENTING the Pre-Need Code have been released, transferring the power to regulate the pre-need industry to the Insurance Commission (IC) from the Securities and Exchange Commission.
Regret for silence on Chartwell Wednesday, March 10, 2010 @ 10:27AMA former employee of an investment company that collapsed owing millions of dollars to clients says he will forever regret not alerting authorities earlier.
Health Overhaul Policy Tidbits Wednesday, March 10, 2010 @ 10:27AMNPR: For those who have forgotten what the Senate's bill would actually do as the debate has turned to politics and procedure, "a short refresher" may come in handy. The legislation's main concepts include the requirement that individuals buy health insurance, a plan that would help eliminate pre-existing condition exclusions and spread risk more widely, and subsidies to help people buy coverage ...
Henderson in 'stupid and complex' case win Wednesday, March 10, 2010 @ 10:16AMChristchurch property developer David Henderson has pulled off a rare feat – a win in the High Court in Christchurch in a tax case against the Inland Revenue Department.
Cardiff must settle tax debt by May 5th Wednesday, March 10, 2010 @ 9:01AMCardiff handed May deadline. (©PAphotos) Cardiff have been given until May 5 to settle a tax debt to Her Majesty's Revenue and Customs in order to avoid following Chester into liquidation.
Goldman Sachs seeks to appeal Canwest TV sale to Shaw Wednesday, March 10, 2010 @ 8:37AMWall Street investment bank Goldman Sachs has asked an appeals court to kill the sale of Canwest Global Communications' television assets to cable operator Shaw Communications.
ABC met chaotic end Wednesday, March 10, 2010 @ 8:20AMTHE former internal banker for ABC Learning Centres has portrayed communications within the firm as so chaotic he couldn't contact the chief finance officer.
Cardiff and Southend handed winding-up deadlines Wednesday, March 10, 2010 @ 8:18AMCardiff and Southend have both been given stays of execution by the High Court, as they fight winding-up orders from Her Majesty's Revenue and Customs that threaten their existence.
Democratic 'moderates' revolt over state borrowing, spending Tuesday, March 9, 2010 @ 8:05PMHARTFORD -- They call themselves "moderates," but a group of 15 conservative-leaning Democrats on Tuesday broke away from party leadership in an apparent insurgency over state borrowing and spending.
Fortune: Mr. Distress Is Ready to Buy Tuesday, March 9, 2010 @ 5:57PMBy guruek. Investment Guru Wilbur Ross was interviewed by Fortune's Katie Benner (read the write-up here). Ross made a name for himself by building a lucrative career finding gold in industries left for dead. In the aftermath of a financial crisis and a great economic recession, words of wisdom from the master of distress investing carry a lot of weight. Read more » »
School discussion dominates LVEDA Tuesday, March 9, 2010 @ 5:11PMBy KRIS REILLY, Editor Lucerne Valley’s hot topic of the moment seems to come up no matter where you go. read more
Bogus Site Targets Madoff Victims Tuesday, March 9, 2010 @ 3:17PMFirst, investors were stung by Bernard Madoff's hugely bogus returns, now an agency said another financial predator claims to have found a hidden pot of Madoff money in Malaysia to help pay back customers.
Insolvency net widens Tuesday, March 9, 2010 @ 3:14PMThe high court on Tuesday widened the scope of the probe into insolvency declarations, bringing cases before April 1, 2008, within its ambit.
Bernanke’s Dilemma: Hyperinflation and the US Dollar Tuesday, March 9, 2010 @ 3:11PMBen Bernanke, Chairman of the US Federal Reserve, faces a Sisyphean task because US banks are experiencing debt deflation and, because lending is now at much lower levels, monetary deflation is encumbering the domestic US economy as existing debts continue to be serviced.
Sask. chiefs OK university funding plan Tuesday, March 9, 2010 @ 1:59PMA plan that would see troubled First Nations University of Canada give up control of its finances and receive money through another university has been approved by Saskatchewan chiefs.
Madoff Victims Targets of Web Scam Tuesday, March 9, 2010 @ 12:59PMFirst, they were scammed by financier Bernie Madoff. Now, people who unknowingly poured their money into Madoff's massive Ponzi scheme are being targeted by web con men. The Securities Investor Pro....
German corporate bankruptcies have risen sharply Tuesday, March 9, 2010 @ 12:39PMGerman corporate bankruptcies jumped considerably last year, rising by more than 11 percent and marking the first annual increase since 2003. The volume of debt more than doubled.
Top Scoops Monday, March 8, 2010 @ 7:53PMWho cleans up the mess when ignorant, greedy bankers rack up massive debt then go broke? The people of Iceland made a strong statement Saturday. The sins of big bankers and government regulators shouldn't fall on the citizens.
Nfld seeks millions from Abitibi for site cleanup Monday, March 8, 2010 @ 7:45PMA tentative labour deal with a key union has buoyed AbitibiBowater Inc.’s bid to exit bankruptcy protection, but environmental claims may submerge restructuring, the court-appointed monitor says
Fraser Papers' N.B. workers accept contract Monday, March 8, 2010 @ 4:41PMWorkers at Fraser Papers' Edmundston mill have reluctantly accepted a new contract that will change their pension plan and help the company emerge from bankruptcy protection, according to the union.
Losing control of the US debt machine Monday, March 8, 2010 @ 4:26PMThe US is insolvent, says a new report.
Mortgage Principal Writedown Won't Save Housing Monday, March 8, 2010 @ 4:23PMPoliticians want to keep borrowers in the homes because that's the compassionate thing to do. The big bad banks just want to cut their losses right? Well, maybe not.
AbitibiBowater, union reach tentative deal Monday, March 8, 2010 @ 4:14PMInsolvent newsprint giant AbitibiBowater Inc. could exit bankruptcy protection by the fall after its largest union tentatively agreed to historic wage concessions to preserve the pension plan of thousands of workers and retirees.
AbitibiBowater, union reach tentative pact Monday, March 8, 2010 @ 1:14PMDeal could help insolvent newsprint company emerge from bankruptcy protection later this year
Football finances not just about players’ wages Monday, March 8, 2010 @ 10:28AMGordon Taylor has responded to claims that players’ wages, certainly at the top level, are the root cause of the financial problems being experienced by a number of our clubs.
Capitol reform not dead yet Monday, March 8, 2010 @ 10:07AMContinued discontent with state government keeps overhaul efforts going despite activists' setbacks
Company Debt Risk Falls to 7-Week Low on Greece: Credit Markets Monday, March 8, 2010 @ 9:23AMMarch 8 (Bloomberg) -- The cost to protect against corporate defaults fell to the lowest in seven weeks as optimism builds that Greece’s budget crisis will be contained and Dubai moves closer to restructuring its debt.
Company Debt Risk Falls to 7-Week Low on Greece: Credit Markets Monday, March 8, 2010 @ 9:11AMMarch 8 (Bloomberg) -- The cost to protect against corporate defaults fell to the lowest in more than six weeks as optimism builds that Greece’s budget crisis will be contained and Dubai moves closer to restructuring its debt.
A CEO Makes Tough Calls As Bad Loans Trim Capital Monday, March 8, 2010 @ 7:38AMLike many community banking companies striving to protect capital against a rising tide of problem assets, Integra Bank Corp. in Evansville, Ind., is making some tough choices.
Bond Risk Falls to 6-Week Low on Greece, Dubai: Credit Markets Monday, March 8, 2010 @ 7:11AMMarch 8 (Bloomberg) -- The cost to protect against corporate defaults fell to the lowest in more than six weeks as optimism builds that Greece’s budget crisis will be contained and Dubai is moving closer to restructuring its debt.
Relevant Links Monday, March 8, 2010 @ 5:31AM"In any case, controlling prices did not yield anything positive for the national economy other than further undermining the viability of many businesses that were already struggling to remain afloat," ZNCC said.
Default Swaps Fall to Six-Week Low on Greece: Credit Markets Monday, March 8, 2010 @ 4:30AMMarch 8 (Bloomberg) -- The cost to protect against corporate defaults fell to the lowest in more than six weeks and U.S. investment-grade bond sales rose fivefold as optimism builds that Greece’s budget crisis will be contained.
Relevant Links Monday, March 8, 2010 @ 3:15AM"If all the cases are to be answered, then NNPC should file for insolvency, adding that NNPC cannot continue to operate at the current level where government expect policy input, implementation as well as be the regulator despite the creation of the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Department of Petroleum Resources (DPR). These are unrealistic", he said.
John Cassidy: Timothy Geithner’s tough sell to an angry public. Sunday, March 7, 2010 @ 11:06PMIn the history of product launches, the rollout of the Obama Administration’s plan to stabilize the financial system was in the category of “Ishtar,” smokeless cigarettes, and New Coke. On February 10th of last year, the newly appointed Treasury Secretary, Timothy F. Geithner, appeared in the . . .
Protection to increase for annuities Saturday, March 6, 2010 @ 5:24AMConsumers with annuities now have more than twice the protection in case their insurance company fails.
The balancers Saturday, March 6, 2010 @ 5:12AMHow dull men in grey suits changed the world
Washington company must pay estate in wrongful auction Friday, March 5, 2010 @ 11:59PMA King County judge on Friday ordered one of the West Coast's major players in the foreclosure industry to pay more than $230,000 to the estate of a disabled senior citizen whose Whidbey Island home was wrongfully auctioned off after she fell behind on payments.
Company must pay estate in wrongful auction Friday, March 5, 2010 @ 11:59PMA King County judge on Friday ordered one of the West Coast's major players in the foreclosure industry to pay more than $230,000 to the estate of a disabled senior citizen whose Whidbey Island home was wrongfully auctioned off after she fell behind on payments.