Hanjin Shipping, formerly the world's seventh-largest container shipping line, has been declared bankrupt by a South Korean court.
Italian shipyard Fincantieri has been approved as the preferred bidder for cruise-ship builder STX France, but politics could yet scupper the deal.
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.
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.
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
Reports from Russia say the country’s second biggest airline, Transaero, has been grounded because of safety concerns. The transport minister has
Talks to pave the way for Greece’s third bailout are underway, with officials from its international creditors on the ground in Athens. The
Fresh from dealing with Greece, the French President is facing a crisis closer to home. Ahead of the start of the August getaway, farmers are
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
The legendary US gunmaker, Colt is filing for bankruptcy. The Conneticut based firm, which has been making weapons for 160 years, has been
The new boss of Malaysia Airlines has described the troubled airline as “technically bankrupt” after last year’s losses of Flights MH370 and
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 has been a nervous reaction across markets amid growing concerns Greece will default on its debt and Standard and Poor’s downgrading. The
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
Parma chairman Giampietro Manenti has been arrested in Italy on money laundering charges. Manenti, who took over as the club’s new owner and
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
Two weeks after being placed in administration Formula One team Marussia has ceased trading. The heavily-indebted British-based team failed to find
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
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
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
Shipyard workers in Croatia opposed to a newly-appointed receiver have been barred from entering the premises of their bankrupt company. There were
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
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
Ukraine’s newly minted central bank head and prime minister have said they hope to receive international financial aid soon and right now they have
It is five years ago since the collapse of investment bank Lehman Brothers, which was the symbolic moment of the financial crisis. The
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
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
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
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