Governor of Banque du Lebanon denies bankruptcy of central bank

Tue, 05 Apr 2022 - 02:05 GMT

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.

After Lebanese statement, what does state bankruptcy mean?

Mon, 04 Apr 2022 - 03:33 GMT

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.

Dispelling fears of bankruptcy

Sat, 03 Oct 2020 - 07:17 GMT

The onset of COVID-19 has brought about fears of bankruptcy for companies globally.

Thomas Cook’s bankruptcy related to England branch only: Source

Mon, 23 Sep 2019 - 01:11 GMT

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.

Sears chairman prevails in bankruptcy auction for retailer with $5.2B bid

Wed, 16 Jan 2019 - 10:08 GMT

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.

CEO exits as PG&E faces fire liabilities, bankruptcy preparations

Mon, 14 Jan 2019 - 09:56 GMT

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.

California utility PG&E explores bankruptcy filing:sources

Sun, 06 Jan 2019 - 09:01 GMT

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,

Sears CEO steps in for bankruptcy financing

Mon, 15 Oct 2018 - 09:40 GMT

The bankruptcy filing is expected in New York early Monday, according to the sources.

GM says South Korean unit to file for bankruptcy

Tue, 27 Mar 2018 - 07:40 GMT

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.

Judge approves Takata's U.S. bankruptcy plan

Sun, 18 Feb 2018 - 07:22 GMT

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.

Business News Wrap-up

Sun, 28 Jan 2018 - 05:00 GMT

A wrap-up of the most prominent business news of the day

Egypt's Parliament finally approves bankruptcy law

Sun, 28 Jan 2018 - 11:20 GMT

The new law abolishes prison sentences in bankruptcy cases and limits punishments to a monetary fine.

Japan Airlines chief, credited with helping steer recovery, to step down

Wed, 24 Jan 2018 - 10:33 GMT

Japan Airlines said President Yoshiharu Ueki, who helped lead the company’s recovery from bankruptcy, will be replaced by a senior executive in April.

Business News Wrap-up

Thu, 11 Jan 2018 - 05:00 GMT

A wrap-up of the most prominent business news of the day

New bankruptcy law boosts investment climate

Thu, 11 Jan 2018 - 08:00 GMT

The new law is expected to improve Egypt’s investment climate and improve its ranking in global business indices.

Assured Guaranty pulls Puerto Rico lawsuit, cites hurricane

Sat, 07 Oct 2017 - 04:45 GMT

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

U.S. judge in Takata bankruptcy halts lawsuits vs automakers

Wed, 16 Aug 2017 - 04:12 GMT

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 emerges as rare bankruptcy survivor

Wed, 09 Aug 2017 - 07:31 GMT

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.

5 celebrities suffering financially

Thu, 27 Jul 2017 - 11:48 GMT

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!

Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor

Mon, 26 Jun 2017 - 10:40 GMT

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.