Results for Africa
- Kenya’s ‘Kiss of Death’ Receivership Laws To Be Reviewed
The government will review receivership laws with the aim of reducing the number of companies that are driven to the graveyard by statutory managers, the Daily Nation reported. Experts say that the current laws provide leeway to entities owed money — ...
Daily Headline - global.abi.org - 02/01/2010 - 11:09 - 0 comments
- Bankers Agree To Lift Uchumi From Receivership
a Sh1.2 billion loss in 2005 and left the firm indebted to the tune of Sh2 billion which it owed to ...
Daily Headline - global.abi.org - 01/29/2010 - 12:37 - 0 comments
- Swiss Banker Blows Whistle on Tax Evasion
From his home in the quiet village of Rorbas, outside Zurich, Rudolf M. Elmer is chipping away at the centuries-old traditions of Swiss banking secrecy, The New York Times reported. Mr. Elmer, who ran the Caribbean operations of the Swiss bank Julius ...
Daily Headline - global.abi.org - 01/19/2010 - 10:55 - 0 comments
- Kenya Court Rescues KPCU From Receivership
The High Court has issued orders lifting the debt-ridden Kenya Planters Cooperatives Union out of receivership, the Daily Nation reported. Union chairman Watson Kimathi said the court ruling was “the perfect Christmas gift for farmers”. “We will now ...
Daily Headline - global.abi.org - 12/24/2009 - 12:16 - 0 comments
- Over 2,100 More Jobs Go at Threshers, Wine Rack
Another 2,140 workers at First Quench Retailing, the group behind British off-license chains Threshers and Wine Rack, are losing their jobs after the administrator said it would close 391 more stores by Dec. 20, Reuters reported. Administrator KPMG has a ...
Daily Headline - global.abi.org - 11/30/2009 - 09:09 - 0 comments
- China Pledges $10 Billion In Low-Cost Loans to Africa
Wen Jiabao, China's premier, has pledged $10 billion in new low-cost loans to Africa over the next three years and has defended his country's engagement on the continent against accusations that it is "plundering" the region's oi ...
Daily Headline - global.abi.org - 11/10/2009 - 08:36 - 0 comments
- World Bank: Reform UAE Insolvency Laws
Creditors of companies that go bust in the Emirates are likely to be paid less than in most other Arab countries, creating a deterrent to investment, says a report from the World Bank, The National reported. Policymakers in the country have been urge ...
Daily Headline - global.abi.org - 11/09/2009 - 11:57 - 0 comments
- Threshers Administrator to Close Hundreds of Stores
Threshers and Wine Rack, said on Thursday that 373 stores within the group will close, leading to over 1 ... operates around 1,200 stores in Scotland, England and Wales and employs 6,300 people. Richard Fleming of ... Threshers and Wine Rack, said on Thursday that 373 stores within the group will close, leading to over 1 ...
Daily Headline - global.abi.org - 11/06/2009 - 10:46 - 0 comments
- KPCU Thrown Into Receivership in Row Over Sh700 Million Debt
The Kenya Planters Co-operative Union has been placed under receivership over a Sh700 million debt and its operations taken over by Consultancy firm, Deloitte on behalf of the debenture holder, the Kenya Commercial Bank, Business Daily reported. KPCU ...
Daily Headline - global.abi.org - 10/21/2009 - 10:01 - 0 comments
- Timbercorp's Forestry Assets Sold for $345 Million
Timbercorp’s forestry assets have been sold for about $345 million to Australian Bluegum Plantations, a wholly owned subsidiary of US timber investment fund Global Forest Partners, The Australian reported. The company intends to set up its headquarte ...
Daily Headline - global.abi.org - 10/01/2009 - 08:33 - 0 comments