bankruptcy
Salama clarified that the Banque du Lebanon is still exercising its role entrusted to it under Article 70 of the Monetary and Credit Law, explaining that it will continue to do so, despite the losses that afflicted the financial sector in Lebanon.
According to the Corporate Finance Institute, bankruptcy means the government fails to make debt and interest payments when due. Failure to pay debts owed to creditors may be accompanied by an official announcement by the government that it will not pay the outstanding debts, or it may sometimes occur without any official announcement.
The onset of COVID-19 has brought about fears of bankruptcy for companies globally.
The source clarified to Egypt Today that the company’s branches in Germany, Belgium and Switzerland, are operating normally to date, and there is no news about their fate.
Lampert’s only challenger in the auction was Sears itself, and how much it would reap in a sale of its businesses and assets in pieces, the people said.
PG&E, which carries a hefty debt load of more than $18 billion, is expected to disclose soon a large financial charge related to liabilities resulting from the November blaze.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs associated with fire liabilities, the sources said. But that is just a possibility, they said,
The bankruptcy filing is expected in New York early Monday, according to the sources.
The U.S. automaker announced in February it would shut down one of its four factories in South Korea, and asked for government support and union concessions to stay in South Korea.
Takata Corp’s U.S. unit received court approval for its bankruptcy exit plan clearing the way for a $1.6 billion sale of Takata assets and providing compensation for those injured by the company’s deadly air bags.
A wrap-up of the most prominent business news of the day
The new law abolishes prison sentences in bankruptcy cases and limits punishments to a monetary fine.
Japan Airlines said President Yoshiharu Ueki, who helped lead the company’s recovery from bankruptcy, will be replaced by a senior executive in April.
A wrap-up of the most prominent business news of the day
The new law is expected to improve Egypt’s investment climate and improve its ranking in global business indices.
Puerto Rico bond insurer Assured Guaranty Ltd (AGO.N) said late on Friday it voluntarily withdrew a complaint that challenged the legality of the island’s fiscal turnaround plan
A U.S. judge overseeing the bankruptcy of Takata Corp's U.S. business has halted for 90 days the lawsuits brought by victims of its faulty air bag inflators.
Payless ShoeSource is set to emerge from bankruptcy as soon as Wednesday nd is banking on a strategy focused primarily on bricks-and-mortar sales.
We usually think of celebrities as luxurious beings sleeping on feather but what you might not know that many celebrities go through horrific financial crises!
Japan's Takata Corp, the firm at the center of the auto industry's biggest ever product recall, filed for bankruptcy protection in the United States and Japan.
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