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Philip Green Responsible For BHS Collapse: UK Lawmakers

Retail tycoon Philip Green's greed and disregard for corporate governance led to the demise of BHS and cost 11,000 jobs, a report by British lawmakers said, calling the collapse of the stores group "the unacceptable face of capitalism", Re ...

Daily Headline - global.abi.org - 07/25/2016 - 22:12 - 0 comments

Eurosurgical In Liquidation Likely To Face Big Tax Liability

Hospital equipment supplier Eurosurgical is likely to owe the Revenue Commissioners a substantial sum when the company’s final tax liability is calculated by its liquidator, the Irish Times reported. The High Court recently appointed George Maloney o ...

Daily Headline - global.abi.org - 07/25/2016 - 22:14 - 0 comments

New Government Fees Will Undermine Insolvency Regime, R3 Warns

New and increased government insolvency fees introduced yesterday will undermine the UK insolvency regime and cost creditors £8m per year, R3 has warned, according to Accountancy Age today. By threatening creditor returns, the government could underm ...

Daily Headline - abi_admin - 07/22/2016 - 12:19 - 0 comments

Euro Area Deficit Falls to Eight-Year Low as Growth Accelerates

with a target of 4.2 percent, while Portugal ended the year at 4.4 percent -- also above the agreed ...

Daily Headline - abi_admin - 07/22/2016 - 12:20 - 0 comments

Debt Issuance Can't Keep Up With the ECB's Hunger for Bonds

Annenkov, 5.4 trillion euros were above the ECB deposit rate and thus actually available for purchase. ...

Daily Headline - abi_admin - 07/21/2016 - 12:38 - 0 comments

European Airlines Fly Into Trouble

Terrorism, air-traffic-control strikes and Brexit have caused a sequence of shocks that have hit demand causing European airlines have been forced to slash ticket prices to fill planes, the Wall Street Journal reported today. Earnings expectations ha ...

Daily Headline - abi_admin - 07/21/2016 - 12:39 - 0 comments

English Court Decides Who Can Be Foreign Representatives Under Cross-Border Insolvency Regulations 2006

The English Court has recently considered who can be recognized as “foreign representatives” under the Cross-Border Insolvency Regulations 2006 (CBIR) in the case of Re 19 Entertainment Limited , about a US company in chapter 11, the National La ...

Daily Headline - abi_admin - 07/21/2016 - 12:49 - 0 comments

EU Court Rules Slovenia’s Bank Bondholder Wipeout Was Legal

The European Union’s highest court ruled that Slovenia broke no laws when it imposed so-called “burden-sharing” in the 2013 banking rescue that wiped out about 600 million euros ($664 million) of bondholder debt, Bloomberg News reported today. The ruling ...

Daily Headline - abi_admin - 07/19/2016 - 13:35 - 0 comments

IMF Cuts 2016 Global Economic Growth Outlook After Brexit Vote

year and next by 0.1 percentage point, putting 2016 at 3.1 percent and on par with last year’s pace, the slowest since the financial crisis. The fund expects a mild pickup next year to 3.4 percent annual ...

Daily Headline - abi_admin - 07/19/2016 - 13:36 - 0 comments

Moody’s: Bank of Ireland’s Rising Pension Deficit is Credit Negative

Moody’s Investors Service warned of a 62 percent rise in the deficit of the Bank of Ireland’s defined benefit funds, partly due to the outcome of the Brexit vote, is credit negative for the bank, Pensions & Investments reported yesterday. In a cr ...

Daily Headline - abi_admin - 07/19/2016 - 13:37 - 0 comments

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