Defense company Paramount filed for bankruptcy in the U.S. after suffering defeat in a long-running business dispute, Bloomberg reported. The United Arab Emirates-based company, founded by Ivor Ichikowitz in South Africa, filed for chapter 11 Thursday in Delaware. It listed assets of between $500 million and $1 billion and liabilities of between $100 million and $500 million in its bankruptcy petition.
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The owners of consumer delivery companies are worried about going bankrupt and falling into more debt due to the ill-considered decisions of some government agencies and the false information that some officials provide to the concerned ministers, the Arab Times Online reported. In a meeting held Saturday, the owners called for a thorough review of the decisions and circulars issued recently, which have negatively affected their commercial activity.
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