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Bankruptcy

News

Hanjin Shipping collapse strands cargo worth billions

Hanjin Shipping's largest shareholder, Korean Air Lines, has again delayed a decision on a rescue plan, adding to uncertainty about cargo stranded at sea following the container carrier's collapse.

Hanjin Shipping's largest shareholder, Korean Air Lines, has again delayed a decision on a rescue plan, adding to uncertainty about cargo stranded at sea following the container carrier's collapse.

Business

Banks pull the plug on South Korea's Hanjin Shipping

One of the world's biggest container shipping firms, South Korea's Hanjin Shipping, is headed for bankruptcy after the lenders it has borrowed money from pulled the plug.

One of the world's biggest container shipping firms, South Korea's Hanjin Shipping, is headed for bankruptcy after the lenders it has borrowed money from pulled the plug.

Business

Saddled with 1.3 billion euros of debt, Greek retailer Marinopoulos gets bankruptcy protection

Greece's biggest supermarket chain, Marinopoulos, has gained protection from its creditors from an Athens court while it restructures. It has debts of 1.3 billion euros, half to banks and half to supp

Greece's biggest supermarket chain, Marinopoulos, has gained protection from its creditors from an Athens court while it restructures. It has debts of 1.3 billion euros, half to banks and half to supp

Business

Russia's Transaero airline grounded over safety fears

Reports from Russia say the country’s second biggest airline, Transaero, has been grounded because of safety concerns. The transport minister has

Reports from Russia say the country’s second biggest airline, Transaero, has been grounded because of safety concerns. The transport minister has

News

Crucial bailout talks begin in Greece

Talks to pave the way for Greece’s third bailout are underway, with officials from its international creditors on the ground in Athens. The

Talks to pave the way for Greece’s third bailout are underway, with officials from its international creditors on the ground in Athens. The

News

50 Cent files for bankruptcy

Rapper 50 Cent has filed for bankruptcy in New York reporting debts and assets in the range of  $10 million to $50 million. It comes two months

Rapper 50 Cent has filed for bankruptcy in New York reporting debts and assets in the range of  $10 million to $50 million. It comes two months

Business

US gunmaker Colt files for bankruptcy

The legendary US gunmaker, Colt is filing for bankruptcy. The Conneticut based firm, which has been making weapons for 160 years, has been

The legendary US gunmaker, Colt is filing for bankruptcy. The Conneticut based firm, which has been making weapons for 160 years, has been

Business

Malaysia Airlines technically 'bankrupt', says new CEO

The new boss of Malaysia Airlines has described the troubled airline as “technically bankrupt” after last year’s losses of Flights MH370 and

The new boss of Malaysia Airlines has described the troubled airline as “technically bankrupt” after last year’s losses of Flights MH370 and

News

No more aid till 'big, big problems' solved, Eurogroup tells Greece

There was food for thought for the Greek Finance Minister Yanis Varoufakis as the eurozone said in no uncertain terms that Athens would get no more

There was food for thought for the Greek Finance Minister Yanis Varoufakis as the eurozone said in no uncertain terms that Athens would get no more

Business

Greece's debt drama deepens after downgrade

There has been a nervous reaction across markets amid growing concerns Greece will default on its debt and Standard and Poor’s downgrading. The

There has been a nervous reaction across markets amid growing concerns Greece will default on its debt and Standard and Poor’s downgrading. The

News

Milan: Man arrested after three killed in court shootings

A man has been arrested after a shooting at a courthouse in Milan left three people dead, including a judge and a lawyer. Officials say the shooter

A man has been arrested after a shooting at a courthouse in Milan left three people dead, including a judge and a lawyer. Officials say the shooter

Sport

Parma owner Giampietro Manenti arrested

Parma chairman Giampietro Manenti has been arrested in Italy on money laundering charges. Manenti, who took over as the club’s new owner and

Parma chairman Giampietro Manenti has been arrested in Italy on money laundering charges. Manenti, who took over as the club’s new owner and

Europe

Ukraine seals emergency EU loan amid bankruptcy threat

The Ukrainian government sealed an emergency loan of 1.8 billion euros from the European Union on Tuesday as the country looks to stave off the

The Ukrainian government sealed an emergency loan of 1.8 billion euros from the European Union on Tuesday as the country looks to stave off the

Sport

F1 team Marussia folds and disappears from the grid

Two weeks after being placed in administration Formula One team Marussia has ceased trading. The heavily-indebted British-based team failed to find

Two weeks after being placed in administration Formula One team Marussia has ceased trading. The heavily-indebted British-based team failed to find

Business

The price of an epic fail

No matter the cause – court rulings, political schemes or simply human error – the week’s top stories all have one thing in common: a costly

No matter the cause – court rulings, political schemes or simply human error – the week’s top stories all have one thing in common: a costly

News

Russia ordered to pay $50 bn in damages in Yukos bankruptcy case

Russia has been ordered to pay $50 bn in damages to shareholderes in the defunct investor-owned oil company Yukos. The Court of Arbitration in the

Russia has been ordered to pay $50 bn in damages to shareholderes in the defunct investor-owned oil company Yukos. The Court of Arbitration in the

Business

Espirito Santo downgraded by rating agencies

For the second time in a week, credit rating agencies have downgraded Portugal’s largest lender Banco Espirito Santo (BES) and other parts of the

For the second time in a week, credit rating agencies have downgraded Portugal’s largest lender Banco Espirito Santo (BES) and other parts of the

News

Croatia shipyard workers barred from workplace

Shipyard workers in Croatia opposed to a newly-appointed receiver have been barred from entering the premises of their bankrupt company. There were

Shipyard workers in Croatia opposed to a newly-appointed receiver have been barred from entering the premises of their bankrupt company. There were

Business

Mt Gox finds 200,000 lost bitcoins

Bankrupt Japanese firm Mt Gox has said that it has found 200,000 lost bitcoins. The Tokyo-based exchange said it discovered the missing virtual

Bankrupt Japanese firm Mt Gox has said that it has found 200,000 lost bitcoins. The Tokyo-based exchange said it discovered the missing virtual

Business

Chinese default sends government signal about market discipline

For the first time a Chinese company has defaulted on its debts to bondholders – in China. Loss-making solar panel producer Chaori Solar missed an

For the first time a Chinese company has defaulted on its debts to bondholders – in China. Loss-making solar panel producer Chaori Solar missed an

News

EU funds fail to stop Romanian town from going bust

The Romanian town of Aninoasa has become the country’s first to file for bankruptcy. Despite having access to EU financial aid, officials have been

The Romanian town of Aninoasa has become the country’s first to file for bankruptcy. Despite having access to EU financial aid, officials have been

Business

Kodak's back after exiting bankruptcy

Eastman Kodak has been given the go-ahead to end its bankruptcy protection status. It filed for bankruptcy at the start of last year, owing the

Eastman Kodak has been given the go-ahead to end its bankruptcy protection status. It filed for bankruptcy at the start of last year, owing the

News

US court ruling casts doubt over Detroit bankruptcy application

The first legal shots have been fired in what looks set to be a protracted US court battle over Detroit’s bankruptcy application. A state judge has

The first legal shots have been fired in what looks set to be a protracted US court battle over Detroit’s bankruptcy application. A state judge has

Business

Down and out in Detroit

Detroit is an economic basket case. More than 75,000 abandoned buildings mean the city’s income from property taxes has fallen by 40 percent in the

Detroit is an economic basket case. More than 75,000 abandoned buildings mean the city’s income from property taxes has fallen by 40 percent in the

News

Motor City runs out of fuel in largest US city bankruptcy

Once the beating heart of America’s motor industry, Detroit shows few signs of being the giant of industry it once was, becoming the largest city in

Once the beating heart of America’s motor industry, Detroit shows few signs of being the giant of industry it once was, becoming the largest city in

News

French court rules Sarkozy overspent 2012 campaign budget

France’s Constitutional Council has ruled that former president Nicolas Sarkozy and his UMP party went over budget during his 2012 election

France’s Constitutional Council has ruled that former president Nicolas Sarkozy and his UMP party went over budget during his 2012 election