Independence Union President Branislav ÄŒanak says the state will face bankruptcy once faced with “demands from all unions”. “At one point the government will have many demands in front of it, and after answering those demands, the state will have to declare bankruptcy of that company called Serbia,” ÄŒanak told Radio B92 in Belgrade on Wednesday.
Posts Tagged ‘bankruptcy’
Ex-ABBA member loses bankruptcy dispute with Buddhist monk
November 27th, 2010 |
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Ex-member of Swedish pop group ABBA, Anni-Frid Reuss, has been unsuccessful in reclaiming back 4.5 million pounds she claims to have lent to a Buddhist temple. Reuss, 65, was pitted against her former Buddhist teacher, when she brought a bankruptcy order against the company that owned the Yangtorp Qiqong Resort, near Hornby. But a court [...]
Sarah Ferguson Reality Show — “Finding Sarah†— Headed To Oprah Network
September 13th, 2010 |
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Sarah Ferguson is being pushed back from the brink of bankruptcy with a little help from reality TV and The Queen of Talk. The UK’s disgraced Duchess of York Sarah Ferguson will star in a six-part reality series about her struggle with weight, finances, and family when OWN: The Oprah Winfrey Network premieres in Jan. [...]
“Bankrupt†Teresa Giudice $60K Shopping Spree
August 17th, 2010 |
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Teresa Giudice isn’t letting something as trivial as $11 million worth of debt and a bankruptcy filing stop her from getting her shop on.The allegedly bankrupt star of Bravo’s The Real Housewives of New Jersey has raised the ire of critics after she reportedly forked over $60,000 on news furnishings for her family’s 1.8 million [...]
15 Celebrities Who Lost it All
July 1st, 2010 |
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It’s everyone’s dream to have a multi-million dollar fortune with which to support themselves, their families, and all their lavish whims. Having enough money to purchase a few islands (and then some) sounds like a bottomless pot of gold. Surprisingly, the illusion can slip away just as easily as the money itself — quickly, and with devastating effects.
Bankrupt “Real Housewife†Teresa Giudice Selling New Jersey Mansion $4 Million
June 10th, 2010 |
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If you’ve got a taste for opulence and $4 million burning a hole in your bank account, a “Real Housewife” would like to speak with you!Bankrupt Franklin Lakes socialite Teresa Giudice and her contractor beau Joe are parting ways with their 10,000-square-feet, six bedrooms, five and a half bath home in Montville Township, New Jersey. [...]
Christians Come To Rescue Of Bankrupt Actor Stephen Baldwin [RestoreStephenBaldwin.org]
April 23rd, 2010 |
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Conservative actor and born-again Christian Stephen Baldwin In 2009, Baldwin filed for bankruptcy after he racked up more than $2.3 million worth of debt with several mortgages, bills to the IRS, and defaulted credit card accounts. Now a new website, set up Lyn Fletcher — a member of Stephen’s Baldwin Ministries, aims to ease the [...]
Veoh Networks Files for Bankruptcy Protection
February 12th, 2010 |
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Veoh Networks, which specializes in developing video-sharing technology for the Web, has filed for bankruptcy protection. CEO Dmitry Shapiro says the company’s fight with Universal Music Group and the sour economy forced Veoh to close its doors.
– Veoh Networks, a startup that had been
developing video-sharing technology for the Web, has filed for bankruptcy
protection, following a lengthy court fight over copyright infringement in the
context of the
sluggish U.S. economy.
In an open letter dated Feb. 11, Veoh CEO and founder Dmitry
Sh…
Japan Airlines’ clouded future: On a wing and a rumour
January 7th, 2010 |
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Bankruptcy beckons for Japan’s struggling flag carrier
EVEN by its own turbulent standards, Japan Airlines (along with its long-suffering shareholders) has had a pretty wild ride in the past week and a bit. Having teetered on the brink of bankruptcy one moment, JAL seemed to have secured an improbable lifeline the next, only for its hopes to be dashed once again.
On December 30th JAL’s shares plunged by 24% to their lowest point since the firm was fully privatised in 1987. News had spread that the hawks in Japan’s new Democratic Party government, led by the new finance minister, Naoto Kan, had finally convinced colleagues that after three bail-outs since 2001 only “court-backed rehabilitation” would force JAL into the kind of radical restructuring the airline’s plight demanded. But over the holiday weekend, the divided government appeared to blink: the state-owned Development Bank of Japan (DBJ) doubled its credit line to JAL to YEN200 billion ($2.2 billion) …
CIT could be out of bankruptcy within days
December 10th, 2009 |
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US small business lender CIT Group has won approval from a New York bankruptcy judge for its prepackaged reorganisation plan, paving the way for it to exit bankruptcy within days. Judge Allan Gropper approved the plan at a court hearing in Manhattan on Tuesday, just weeks after the firm sought
“We Need…to Reconstruct the Financial System So That s Much of It As Possible Can Fail, With Pain to the Interested Parties, But Not to The System”
September 24th, 2009 |
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John H. Cochrane – Professor of Finance, University of Chicago Booth School of Business – says in his prepared testimony to the House Committee on Financial Services (where he will testify at 9 am today):We need Wall Street to reconstruct the financial…
Reader’s Digest declares bankruptcy: Unsexy and unsuccessful
August 20th, 2009 |
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How a once-mighty publisher fell, and why it may rise again
A FEW years ago it was feared that the investors scooping up one media company after another and loading them with debt would ruin their purchases. As it turns out, some have also ruined themselves. On August 17th the Reader’s Digest Association, publisher of America’s most widely read magazine, said it would seek bankruptcy protection to restructure $2.2 billion in debt. The consortium that bought the company two years ago, led by Ripplewood Holdings, a private-equity firm, would lose its investment under the plan. The future of Reader’s Digest, by contrast, looks brighter.
These days Reader’s Digest is a global business: it generates less than half of its revenue in America. Most of its money comes from direct marketing (that is, junk mail) and sales of things as varied as wine, vitamins and books. It also runs Allrecipes.com, a popular website. But the corporate brand is built on the magazine, and the company has not been helped by its epic decline. …
Mike Nellis: What Will Health Care Reform Do For You? — Kansas Statistics
July 29th, 2009 |
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Last week, the House Energy and Commerce Committee released encouraging reports on the Affordable Health Choices Act. I wanted to pass along some of the data
Kerry Katona ‘told her bankruptcy will be lifted’
July 23rd, 2009 |
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Brit media personality Kerry Katona was seen celebrating on July 22 after she was told that her bankruptcy would be lifted in less than a month.
Katona, 28, has signed up for new deals for Iceland adverts and MTV shows, which are helping to improve her financial situation, and which will enable her to clear off [...]
‘Question marks’ over Opel bids
July 19th, 2009 |
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There are still lots of question marks surrounding the three bids for a majority stake in Opel, Germany’s economy minister has said.
Karl-Theodor zu Guttenberg said that the bidders needed to take on more risk if any deal was to be agreed.
The German government is closely involved in talks between Opel’s owner General Motors and the bidders, having pledged considerable financial support.
If a deal is not agreed, he said, Opel could ultimately face bankruptcy.
‘Advanced’ negotiations
"There are still lots of question marks. For example, the bidders have to ensure that the new Opel company can start with a strong capital base. Otherwise, the EU Commission will not accept the rescue," Mr zu Guttuenberg said.
"If everything fails, what we do not want to happen – Opel’s bankruptcy – cannot be ruled out ultimately," he added.
In May, the German government backed a bid from Canadian car parts maker Magna to take a stake in the troubled carmaker.
However, relations between Opel’s owner, General Motors (GM), and Magna have soured in recent weeks, leaving the door open for two further bidders – Belgian private equity firm RHJ International and Chinese firm Beijing Automotive Industries.
Just last week, RHJ said it was in "advanced" negotiations with GM.
Magna wants control of some GM intellectual property rights, as well as distribution rights in Russia, something which the US carmaker is not willing to hand over.
Now it appears there are doubts in Germany about all three bids.
Job losses
GM has just emerged from bankruptcy protection after losing billions of dollars following a massive slump in sales due to the global economic downturn.
As part of its cost-cutting measures, the carmaker is selling GM Europe, which employs a total of 54,500 workers across Europe, with 25,000 based in Germany.
Under the Vauxhall brand, the firm employs 5,500 UK workers and has plants in Luton and Ellesmere Port.
There have been worries that UK workers will suffer sharp job losses as financial support for Opel from the German government safeguards German jobs. </p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Crocs Maker Appears Headed Toward Bankruptcy
July 18th, 2009 |
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Crocs were born of the economic boom.
The colorful foam clogs appeared in 2002, just as the country was recovering from a recession. Brash and bright, they were a cheap investment (about $30) that felt good and promised to last forever. Form…