"When the programme becomes insolvent, PBGC will be unable to provide financial assistance to pay guaranteed benefits in insolvent plans," it concluded.
|
|
BERLIN (Reuters) - The insolvent German carrier Air Berlin AB1.
|
|
FRANKFURT (Reuters) - The buyers of insolvent Air Berlin's AB1.
|
|
The French banks would be essentially insolvent the next morning.
|
|
Maiden Capital learned in February 2009 that Enable was insolvent.
|
|
BERLIN (Reuters) - The German government wants insolvent Air Berlin's AB1.
|
|
BERLIN (Reuters) - Talks between the insolvent carrier Air Berlin AB1.
|
|
If one exhausts its resources, it will end up insolvent.
|
|
Some have gone insolvent, leaving individuals with large, unpaid medical bills.
|
|
Loans to insolvent borrowers stood at 200.1 billion euros in August.
|
|
FRANKFURT (Reuters) - A receiver of insolvent German airline Air Berlin AB1.
|
|
It is effectively insolvent, borrowing to pay interest on its debts.
|
|
The state's transportation trust fund for new projects is nearly insolvent.
|
|
Unless Congress intervenes again, the HTF will be insolvent by 2021.
|
|
VIENNA (Reuters) - Around 790 staff working for insolvent airline Niki AB1.
|
|
BERLIN (Reuters) - Flights operated by insolvent German carrier Air Berlin AB1.
|
|
By 2001, the company was insolvent and had just seven employees.
|
|
If they were to mark them down, they would be insolvent.
|
|
The nearly insolvent city has been under state oversight since 2011.
|
|
State regulators cracked down after some of these plans became insolvent.
|
|
But if they had, a lot of insurers would have become insolvent.
|
|
Now it takes only a small loss to render them technically insolvent.
|
|
The city is nearly insolvent and could soon run out of money.
|
|
Eskom said it was not insolvent but was facing serious liquidity issues.
|
|
Medicare is in even worse shape, set to be insolvent by 2628.
|
|
The problem was that the acquisition would have rendered Finish Line insolvent.
|
|
Chapter 9 is the part of the bankruptcy code for insolvent governments.
|
|
Although their financials did not show it, Fannie and Freddie were insolvent.
|
|
If a plan becomes insolvent, the impact on consumers can be devastating.
|
|
Many Americans worry that Social Security will become insolvent before they retire.
|
|
The POROSHENKO administration nationalized the bank in 2016 it was declared insolvent.
|
|
The unincorporated territory known as the Commonwealth of Puerto Rico is insolvent.
|
|
Within 603 plan years, the actuary said, the fund would be insolvent.
|
|
The system is in so much debt it could be insolvent by spring.
|
|
They value insolvent loans at less than 40 percent of their nominal value.
|
|
Why it matters: GE is far from insolvent, but it's definitely in trouble.
|
|
The covenants have also been applied to companies that have already become insolvent.
|
|
It is because the Greek state and the Greek banks remain deeply insolvent.
|
|
Most American and European companies have closed factories, and many have become insolvent.
|
|
The city is nearly insolvent and could soon run out of money, Reuters reported.
|
|
It is modelled on China's law relating to the winding-up of insolvent firms.
|
|
Separately, the UK Financial Conduct Authority declared Beaufort insolvent and appointed administrators for it.
|
|
Investors must understand the risk that accompanies investment in unproven and often insolvent companies.
|
|
Bankruptcy advisers are prohibited from holding direct or indirect stakes in the insolvent company.
|
|
Also, these plans have a long history of financial troubles, with some becoming insolvent.
|
|
Central banks would soon become involved: without a speedy intervention, banks could become insolvent.
|
|
VIENNA (Reuters) - December salaries will be paid to staff of insolvent airline Niki AB1.
|
|
The mandatory capital ratio trigger occurs when the issuer is deemed to be insolvent.
|
|
Medicare Part A is on track to be insolvent within a startling eight years.
|
|
Meanwhile, the latest estimate projects Social Security's trust funds will be insolvent in 2035.
|
|
Immediately following the deal, the company was found to be insolvent by its auditors.
|
|
The fifth-largest U.S. investment bank went from healthy to insolvent within 72 hours.
|
|
FRANKFURT (Reuters) - Airline entrepreneur Hans Rudolf Woehrl is interested in insolvent Air Berlin AB1.
|
|
UTP borrowers are yet to be declared insolvent and can be restored to health.
|
|
But critics note that Eskom, South Africa's state-owned power utility, is in effect insolvent.
|
|
All told, over 1,500 companies are said to have been deemed insolvent by the courts.
|
|
Owners and managers of an insolvent firm would lose control to a committee of creditors.
|
|
The Bahrain account was indeed lost, and the next day Bell Pottinger was declared insolvent.
|
|
On Wednesday, it disclosed that without fresh capital, it will be insolvent within four months.
|
|
Lufthansa is also poised to take over part of insolvent smaller peer Air Berlin AB1.
|
|
He said he had seen thousands of clients made insolvent by a single unexpected cost.
|
|
What little money the firm's clients had left was now stuck in an insolvent firm.
|
|
Even worse, in New York, the Road Carriers Local 707 Pension Fund has become insolvent.
|
|
DE assets that it expects would secure around 1,000 jobs at the insolvent German airline.
|
|
DUBLIN (Reuters) - Ryanair is interested in some assets belonging to insolvent rival Air Berlin AB1.
|
|
The state of Rio is nearly insolvent, struggling to pay salaries and mollify enraged employees.
|
|
Separately, the UK Financial Conduct Authority declared Beaufort insolvent and appointed administrators for the brokerage.
|
|
Despite bringing home massive paychecks, a surprising number of former professional athletes end up insolvent.
|
|
It was the country's largest commercial bank but became state-owned after being declared insolvent.
|
|
Transferring money out of an insolvent company in this way is called a "preference" payment.
|
|
But one of those reasons simply isn't that you think the program is near-term insolvent.
|
|
The transfer may have made the company insolvent, Marble Ridge said in the letter dated Sept.
|
|
"The company is insolvent ... so its management will file for bankruptcy," SDH said in a statement.
|
|
MC) has agreed to buy selected European assets from insolvent German wind turbine manufacturer Senvion (SENG.
|
|
The insolvent airline said it was cancelling flights today for operational reasons, without giving further details.
|
|
On top of that, there is already a program designed for pension plans that become insolvent.
|
|
It would have totaled $97 million had two of American's and United's insurers not become insolvent.
|
|
Of Italy's 500 banks, 21625 are technically insolvent with bad loans exceeding their entire capital base.
|
|
What's worse, there is little or no safety net in the event a pension becomes insolvent.
|
|
The banker, who requested anonymity, said it might also shut down non-essential and insolvent companies.
|
|
Weak banks were given time to recapitalize, and banks that failed to comply were declared insolvent.
|
|
The island has a 45 percent poverty rate and near-insolvent public health and pension systems.
|
|
Ukraine declared PrivatBank, the country's largest lender, insolvent on Monday and took it under state control.
|
|
Monarch Airlines flights have been halted and shares of the insolvent airline ceased trading on Monday.
|
|
The most recent Medicare trustees' report predicts that program will become insolvent in just 12 years.
|
|
It had near-insolvent public health and retirement systems, and was suffering from a shrinking population.
|
|
It was as if the very identity of a Letcher County man had been declared insolvent.
|
|
Unlike the insolvent Trump Tower in Toronto, the Vancouver building seems to be a financial success.
|
|
Unfortunately, if Congress doesn't act to shore it up, Social Security could be insolvent by 21.
|
|
It would also bring forward the date at which the Social Security trust fund becomes insolvent.
|
|
The report says Social Security will become insolvent in 2034 -- no change from the projection last year.
|
|
"The company is effectively insolvent," Sampson wrote in an email to staff on the day he resigned.
|
|
British Steel was declared insolvent after talks with the government to secure another bail-out broke down.
|
|
And of course, the inevitable surging debt service payments will subsequently render debt-saturated governments completely insolvent.
|
|
DE) bid price of 200 million euros ($239 million) to buy assets from insolvent Air Berlin AB1.
|
|
There are going to be three groups of solvent players and one insolvent player in Air India.
|
|
BERLIN (Reuters) - The top priority in negotiations to sell parts of insolvent German airline Air Berlin AB1.
|
|
The Congressional Research Service reports the Medicare Trust Fund will be insolvent in less than 2628 years.
|
|
It will mean that banks should from next year onwards be able to foreclose on insolvent firms.
|
|
Many government-controlled entities there have their own budgets and treasuries, such as the insolvent Electric Utility.
|
|
Nor does the $234.5 million loss suggest that Mr. Trump was insolvent or effectively bankrupt in 21990.
|
|
According to a report by the Congressional Research Service, Medicare is projected to become insolvent by 2026.
|
|
That was because a partner in the production process "became financially insolvent," Sorial explained to the judges.
|
|
SolarCity was also insolvent before Tesla acquired it, recent court filings including sworn testimony and depositions revealed.
|
|
On Wednesday, the bank disclosed that unless it gets fresh capital, it will be insolvent within four months.
|
|
The report from program trustees says Medicare will become insolvent in 2026 -- three years earlier than previously forecast.
|
|
Nearly $4 billion of the debt belongs to GDB, which is virtually insolvent and could be wound down.
|
|
Ukraine declared the country's largest lender insolvent on Monday and said it was bringing it under state control.
|
|
"The directors of 23.9800MDB confirmed that 1MDB was 'insolvent' and was unable to repay its debts," Lim said.
|
|
It's not an isolated incident: Since 2013, Russia's central bank has shut down more than 300 insolvent lenders.
|
|
It also said its debt level was low, in response to the suggestion that Burford is "arguably insolvent".
|
|
The government on Thursday launched creditor voting on a restructuring plan involving Puerto Rico's insolvent Government Development Bank.
|
|
Most creditors will probably lose more than 90 percent of capital, Handelsblatt reported, citing the insolvent firm's liquidator.
|
|
Everything succeeds until it doesn't, and Medicare's own trustees now project the program to become insolvent by 2028.
|
|
In certain cases, IL&FS lent funds to insolvent entities and to troubled projects, the report also said.
|
|
It has also said it would be interested in taking on insolvent Alitalia if it can be restructured.
|
|
We know our welfare system is hugely overburdened and threatens to be entirely insolvent by within 21625 years.
|
|
Hundreds of billions devoted to risk corridors and failed Co-ops (2628 of 28500 are insolvent or bankrupt).
|
|
STEFANEL (shares suspended) - An Italian court stated that the clothing group is insolvent, the company said on Monday.
|
|
Many Puerto Ricans blame Prepa, which is insolvent, and their government for their suffering during the long blackout.
|
|
The creditors will claim that the divestitures of the shoe companies made Nine West insolvent, the sources said.
|
|
The company is in talks to buy around a dozen of the insolvent Air Berlin's long-haul carriers.
|
|
The measure would help ensure that the 1974 United Mine Workers of America Pension Plan won't become insolvent.
|
|
They eventually dropped the pension side, since the health benefits were closer to being insolvent and more urgent.
|
|
FRANKFURT (Reuters) - German aviation investor Hans Rudolf Woehrl expects to submit an offer for insolvent Air Berlin AB1.
|
|
It also faces $70 billion in bond debt, a 45 percent poverty rate, and near-insolvent public health systems.
|
|
VIENNA (Reuters) - Austrian holiday airline Niki's 850 employees braced for a bumpy ride as insolvent parent Air Berlin AB1.
|
|
But it protected the savings of 25 million customers at insolvent S & Ls. Bush's second year produced bigger achievements.
|
|
EasyGroup, controlled by Stelios Haji-Ioannou, also said it could terminate the brand licence agreement if Fastjet became insolvent.
|
|
When the minimum wage is raised, they have to increase their workers' pay, but they don't suddenly become insolvent.
|
|
Bad loans or "sofferenze" are the worst kind of soured debts, where borrowers have defaulted or are deemed insolvent.
|
|
Many of the small and medium-sized banks are insolvent and should have been laid to rest long ago.
|
|
But if a bank winds up insolvent, European rules prohibit national governments from providing a no-strings-attached bailout.
|
|
If the debt swap deal breaks down, the company would likely become insolvent, the firm said in a statement.
|
|
Lufthansa is taking over large parts of insolvent rival Air Berlin, and plans to grow Eurowings as a result.
|
|
As the insolvent government shuffles money from one pocket to another to stave off bankruptcy, investors expect the worst.
|
|
Things have become so bad, district officials say, that the Detroit public school system could be insolvent by April.
|
|
Hidroelectrica has been run by a court-appointed manager since it became insolvent for the first time in 2012.
|
|
State power utility Eskom, which is technically insolvent, was forced cut power from the national grid earlier this month.
|
|
"Since the estate has substantial creditors running into hundreds of millions of pounds, it is hopelessly insolvent," he said.
|
|
The report shows that the federal program is still on schedule to be insolvent by as soon as 28503.
|
|
Much bigger challenges remain if we are to solve the problems that led to the increasingly insolvent national finances.
|
|
Unfortunately, it's true that, if Congress doesn't act to shore it up, Social Security could be insolvent by 2034.
|
|
Most of the country's pension funds are now considered insolvent and rely heavily on government subsidies to stay afloat.
|
|
The lawsuit claims that immediately after the acquisition closed at roughly $2.6 billion, SolarCity's auditors declared the company insolvent.
|
|
In the aftermath of Parmalat's collapse, Parma were also declared insolvent and went into controlled administration for several years.
|
|
The Postal Service has warned that it could be insolvent by June, the House Oversight Committee said this week.
|
|
Exactly 25 years ago, Britain's oldest investment bank, which listed Queen Elizabeth II among its clients, was declared insolvent.
|
|
Hays Travel, a family-owned British travel company, agreed to buy all 555 retail shops of insolvent Thomas Cook.
|
|
Eskom, the state-run electricity company, has spiralling debts equivalent to 8.5% of GDP and remains insolvent and unreformed.
|
|
The Justice Department has accused the bank of overlooking corruption at the Malaysian government fund, which is now insolvent.
|
|
Then a project fell into their lap: the redesign of a featureless, insolvent parkland course in South Pittsburg, Tenn.
|
|
Insolvent said it is cancelling around 70 flights on Tuesday after pilots called in sick in unusually high numbers.
|
|
The company's British fleet was grounded immediately after the parent group became insolvent to comply with operating licence requirements.
|
|
Lawmakers in Congress have been debating for years how to reform this safety net before it goes becomes insolvent.
|
|
VIENNA (Reuters) - Former motor racing driver Niki Lauda will table an offer for parts of insolvent airline Air Berlin AB1.
|
|
There are already 10 offers on the table for Loewe, the insolvent consumer electronics maker's administrator told Welt am Sonntag.
|
|
He took his life on December 5th 1990, with the authorities poised to take over the insolvent family finance company.
|
|
Last night one of Voat's two employees announced the site is essentially insolvent and unlikely to exist for much longer.
|
|
This is one of the reasons why, to this day, the Federal Reserve is borderline insolvent… which hardly inspires confidence.
|
|
The Medicare trust fund is set to be insolvent one year later than was estimated last year, per Modern Healthcare.
|
|
DE by the deadline of Friday set by the administrator of the insolvent airline which employs more than 8,000 people.
|
|
When Enable became insolvent in 2009, Irfan Amanat worked with Maiden to hide his hedge fund's losses, the complaint said.
|
|
Rather, the truth is negative interest rates are mostly about keeping insolvent governments afloat by constantly reducing debt-service payments.
|
|
There are already twenty other multiemployer pension plans that are slated to become insolvent before the UMWA pension plan does.
|
|
Under the new framework, debtors have to owe a minimum of $113,700 to be declared insolvent, up from $7,100 previously.
|
|
Who knew for sure what other banks were sitting on huge losses from Lehman's bankruptcy that would make them insolvent?
|
|
The report says GE is insolvent and asserts that its industrial businesses have a working capital deficit of $20 billion.
|
|
It was declared insolvent in 2012 and placed into special administration, battered by slowing demand and stiff competition from Asia.
|
|
Republicans counter that Medicare will eventually become insolvent and changes are needed to make it more efficient and save money.
|
|
In June 2012, Left published a research report in which he said that Evergrande was insolvent and had defrauded investors.
|
|
In June 2012, Left published a research report in which he claimed that Evergrande was insolvent and had defrauded investors.
|
|
But he recently received a letter at his home in Toledo, Ohio, warning that the pension fund was nearly insolvent.
|
|
BERLIN (Reuters) - The German government is not involved in talks on the sale of insolvent German airline Air Berlin's AB1.
|
|
Even at the start of 2016, the plan was just 24% funded, and was expected to become insolvent within 215 years.
|
|
The easier it is for companies to become insolvent, the more quickly capital can be reallocated from inefficient to efficient uses.
|
|
The island, trudging through a decade-long recession, has $72 billion in debt and near-insolvent public health and pension systems.
|
|
Baili's parent company, Diogene, hasn't been in business for at least a year, and both Diogene and Baili, are now insolvent.
|
|
He notes that even firms that are technically insolvent may have enough liquidity to keep them from such potential fire sales.
|
|
High-profile short seller Andrew Left, of California-based Citron Research, published a report in 214.8 arguing the group was insolvent.
|
|
"They can only absorb a certain level of losses or they'll be insolvent and won't do anyone any good," she said.
|
|
While a $916 million loss is obviously substantial, it doesn't necessary mean that Trump was insolvent, or even considering declaring bankruptcy.
|
|
Among other things, China must permit banks to compete properly, stop controlling the yuan and allow insolvent firms to go bust.
|
|
T), accusing the Japanese bank of not extending its portion of a syndicated loan to now-insolvent shoemaker Ultrasonic AG (US5.
|
|
The report also says GE is insolvent and asserts that its industrial units have a working capital deficit of $218.5 billion.
|
|
EasyJet said on Monday it had also submitted an expression of interest in acquiring parts of Italy's insolvent national carrier Alitalia.
|
|
The second exception would have applied if he was insolvent (his liabilities exceeded his assets) to the extent of $6900 million.
|
|
The Central States Pension Fund, one of the largest multiemployer pension plans, is expected to go insolvent in just five years.
|
|
PREMIER OF GERMAN STATE OF BAVARIA SAYS STATE CAN TAKE STAKES IN COMPANIES VIA "BAVARIAN FUND" TO STOP THEM GOING INSOLVENT
|
|
Bury was one of ten sides to become insolvent in 2002, when a TV deal for lower-league clubs fell apart.
|
|
BERLIN (Reuters) - A senior German government official was quoted as saying on Thursday that the assets of insolvent Air Berlin AB1.
|
|
They seemed to believe people could be allowed to buy insurance only after they got sick, without rendering insurance companies insolvent.
|
|
Zandi is among experts who have said that without changes to the current system, Social Security will become insolvent by 2035.
|
|
The embattled publisher is poised to declare itself insolvent, according to multiple sources with knowledge of the plan, the paper said.
|
|
High-profile short seller Andrew Left, of California-based Citron Research, published a report in 22.1 arguing the group was insolvent.
|
|
Nick Sampson, one of the automaker's founders, reportedly resigned in October, saying Faraday Future is "effectively insolvent" in an email to employees.
|
|
But levying multibillion-dollar fines erodes that cushion, making banks more likely to become insolvent if they hit an economic rough patch.
|
|
If you included a reasonable brand value on the asset side of Starbucks' balance sheet, then it would no longer look insolvent.
|
|
Haji-Ioannou, who owns a 12.6 percent stake in Fastjet through easyGroup, said in that letter that the carrier could go insolvent.
|
|
We look forward to the flood of unverified information and bloodbath of insolvent publications that are sure to follow this brilliant pivot.
|
|
The Bank of Italy said last month that insolvent loans held by Italian banks fell to a three-year low in August.
|
|
In Wednesday's filing, LJM's lawyers denied an earlier claim by Wells Fargo that the fund company is now likely to be insolvent.
|
|
Niki filed for insolvency in Berlin last month after Germany's Lufthansa scrapped plans to buy the Austrian arm of insolvent Air Berlin.
|
|
In its 2014 annual report, the PBGC said that the fund was "highly unlikely" to become insolvent over the next 10 years.
|
|
But Giannoulias had a boatload of business-related difficulties: His family's bank had been taken over by federal regulators and declared insolvent.
|
|
It appears to be insolvent and is embroiled in a scandal over improprieties in its purchases of fuel oil, its biggest expense.
|
|
Absent legislative reforms before then, Social Security will become "insolvent" and benefit payments will be automatically cut by an estimated 23 percent.
|
|
Prepa declared itself insolvent in 2014 and stopped making debt payments, leading bondholders to start negotiations to slow the original repayment schedule.
|
|
It also made loans to an insolvent inter-island airline, a resort that went bankrupt, and a major franchisee of KFC restaurants.
|
|
His father is an independent consultant in Salt Lake City, where he specializing in the takeover and administration of insolvent insurance companies.
|
|
His father is an independent consultant in Salt Lake City, where he specializes in the takeover and administration of insolvent insurance companies.
|
|
Under the new rules, national governments are not supposed to inject fresh taxpayer money into a bank if it is deemed insolvent.
|
|
But Ryan and other Republicans argue Medicare and Social Security need to be reformed before both programs become insolvent and ultimately bankrupt.
|
|
The Medicare Trust Fund will be insolvent by 2029, and the Social Security Trust Fund will run out of money by 2034.
|
|
Air France last week withdrew a rescue bid for Aigle Azur and has since rebuffed overtures by XL Airways, another insolvent carrier.
|
|
The insolvent wood pellets maker has attracted takeover offers from several German and foreign investors, insolvency administrator Bettina Schmudde said late on Monday.
|
|
South Africa's national carrier, which Ethiopian overtook in size last year, has been unprofitable since 2011, and could be insolvent without government guarantees.
|
|
But because Puerto Rico is not a state, its public companies could not use the bankruptcy code used by insolvent borrowers like Detroit.
|
|
Also on Thursday, the Russian central bank revoked the banking licenses of three lenders — Vneshprombank, Miraf-Bank and Turbobank — that had become insolvent.
|
|
Rozhkova said overturning the nationalisation would undermine the central bank's independence and encourage owners of other banks declared insolvent to challenge the regulator.
|
|
SunEdison once had a market capitalization of nearly $10 billion, but the bankruptcy judge overseeing the case has called the company "hopelessly insolvent."
|
|
Lufthansa Group is growing rapidly this year thanks to takeovers and as it fills the gap left by insolvent German rival Air Berlin.
|
|
But roughly half of Italy's 200 billion euros in loans to insolvent borrowers is secured against real estate, according to accountancy firm PwC.
|
|
In Europe, Alitalia and Air Berlin have been declared insolvent, leading to concerns their aircraft will have to be placed with other airlines.
|
|
Rozhkova said overturning the nationalization would undermine the central bank's independence and encourage owners of other banks declared insolvent to challenge the regulator.
|
|
This is common sense, and it's urgent -- given the current significantly depressed global coal market, the entire coal mining industry is effectively insolvent.
|
|
BTA, the bank in which he held a majority stake and which was eventually seized by Kazakh authorities, was declared insolvent in 2009.
|
|
It is one of five major national trust funds going insolvent during the next 16 years — a funding crisis totaling in the trillions.
|
|
Officials warned that the two programs, which made up roughly 85033 percent of federal spending in 2015, would become insolvent within 20 years.
|
|
" He also alleged that Musk "knowingly orchestrated a significant fraud by arranging the $2.6 billion acquisition at a time when SolarCity was insolvent.
|
|
A bankruptcy scenario would play out differently, as tenants are able to wiggle their way out of leases when a company becomes insolvent.
|
|
By the middle of 2009, it had become evident that the small Mediterranean country wasn't just suffering a liquidity crisis—it was insolvent.
|
|
The statements, audited by KPMG, showed, among other things, that Puerto Rico's largest public pension has exhausted its assets and is now insolvent.
|
|
An additional $250 million was apparently used to prop up the Government Development Bank for Puerto Rico, which was declared insolvent last year.
|
|
Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference an external auditor found Crane Bank's liabilities exceeded assets, rendering it insolvent.
|
|
Dixon-Warren said that three of the state-owned company's subsidiaries were insolvent and that there were no resources available to finance operations.
|
|
Officials warned that the two programs, which made up roughly 40 percent of federal spending in 2015, would becoming insolvent within 85033 years.
|
|
Among other things, Chapter 9 greatly limits the authority that bankruptcy court judges and other federal officials can exert over insolvent local governments.
|
|
The danger is that the pandemic chokes off economic activity for long enough to turn solvent institutions insolvent, overwhelmed by loans gone bad.
|
|
In other eye-catching moves, Lufthansa slipped 6.3 percent after British Airways owner IAG agreed to buy Air Berlin's insolvent Austrian airline Niki.
|
|
China had 800 solar panel companies a decade ago and now has just 70 or 80, after allowing the rest to become insolvent.
|
|
The lawsuit argued Purdue was either insolvent or near insolvency when it transferred those funds, making the transfers illegal under New York law.
|
|
DE insolvent Austrian airline, a source close to the process said on Thursday, after Niki's administrator said that one bidder out of four remained.
|
|
"Two weeks ago, Inch said he could potentially see the stock shrinking to $5, assuming that GE Capital doesn't ultimately become insolvent," Cramer said.
|
|
The state had no choice but to stand behind failing banks, but it took the ill-judged decision to all but abandon insolvent households.
|
|
"The measure has been taken upon determination by the Bank of Tanzania that the bank is critically undercapitalised and insolvent," the central bank said.
|
|
The government's recent takeover of Baoshang Bank, an insolvent regional lender, was a reminder of the deep rot in certain corners of the economy.
|
|
They campaigned and got political damnations on tax cuts, now using our 401K money, when social security—they&aposve said for years—is insolvent.
|
|
In the 1990s Mr LaPierre made an enemy of a sitting Republican president, George H.W. Bush, and the NRA was said to be insolvent.
|
|
Portland, 52 percent owned by the state, was found technically insolvent in a November report by Kenya's auditor-general, because its liabilities outstripped assets.
|
|
FRANKFURT (Reuters) - German family-owned logistics company Zeitfracht said on Tuesday it had expressed its interested in bidding for insolvent airline Air Berlin AB1.
|
|
The risks are illustrated by the problems of South African Airways, which the Ministry of Finance deems technically insolvent, although its liabilities are small.
|
|
The German airline said it will sign a contract with Air Berlin Thursday to acquire some of the latter's assets after it became insolvent.
|
|
The tribunal found that Left's allegations that the company, now known as China Evergrande Group, was insolvent and used fraudulent accounting were not true.
|
|
The Chinese government can afford to resolve small banks that are insolvent, but it will be a political challenge to carry this out smoothly.
|
|
Air Berlin's Niki, which flies to tourist destinations, and regional airline LG Walter are not insolvent and will continue to run, the company said.
|
|
DE insolvent Austrian holiday airline, for 20 million euros ($24.01 million) and provide additional liquidity to the company of up to 16.5 million euros.
|
|
The four banks said they held 'sofferenze' — or loans to insolvent borrowers — worth 542 million euros in gross terms at the end of June.
|
|
But now, the PBGC is also projected to become insolvent in five years, making their "guaranty" not much better than a band-aid solution.
|
|
The wind turbine maker said on Monday it had started exclusive, non-binding negotiations with insolvent German peer Senvion to potentially buy selected assets.
|
|
The regulator placed the small lender under curatorship before applying last month to the High Court to close it down for being "hopelessly insolvent".
|
|
PARIS (Reuters) - A French court began the process of liquidating insolvent airline Aigle Azur on Monday but left bidders including Air France-KLM (AIRF.
|
|
And on top of that, the Social Security system that was to be a back-stop against poverty for older Americans is practically insolvent.
|
|
Insurance guaranty funds, present in every state and some territories, pay outstanding claims to residents and property owners if an insurance company becomes insolvent.
|
|
Thomas Cook's Nordic arm, meantime, has said it is looking for new owners, while Polish unit Neckermann Polska said on Wednesday it was insolvent.
|
|
BERLIN (Reuters) - The German government has no preferred bidder to take over the assets of insolvent Air Berlin, an Economy Ministry spokesman said on Monday.
|
|
Pipeline companies are being weighed down by worries that revenue might dry up as oil and gas producers cut investment and weaker suppliers become insolvent.
|
|
"The measure will allow for the orderly wind-down of the insolvent airline Air Berlin without unduly distorting competition," the Commission said in a statement.
|
|
The central bank has said banks that fail to meet the capital requirements would be declared insolvent, or nationalized if they are of systemic importance.
|
|
On Monday, Mladek failed to push through a proposal for a state-owned mining company to buy insolvent hard coal miner OKD, which Babis opposed.
|
|
Romania's largest and cheapest power producer has been run by a court-appointed manager after it became insolvent for the second time in early 2014.
|
|
FRANKFURT (Reuters) - The sale of insolvent Austrian airline Niki to former motor racing champion Niki Lauda closed on Wednesday, the insolvency manager Lucas Floether said.
|
|
It could force firms to recognise bad loans, close insolvent businesses, and use that capacity to ease the pain on creditors and shore up banks.
|
|
Roden also said he was upbeat on Lufthansa given reduced capacity by Middle Eastern carriers out of Europe and as Air Berlin was declared insolvent.
|
|
MUNICH/VIENNA (Reuters) - Niki's administrator began urgent talks on Thursday to find a buyer for the insolvent Austrian carrier after a deal with Lufthansa (LHAG.
|
|
Federal law bars Puerto Rico from restructuring under Chapter 9, the part of the bankruptcy code that insolvent cities and other local governments can use.
|
|
The government is bankrupt and its pension plans are insolvent, due to mismanagement and out of control public-debt financing for the last 30 years.
|
|
George W. Bush, in his effort to overhaul Social Security in 85033, predicted it would become insolvent in 2041 (for which he was widely derided).
|
|
Acquired rights also include pensions to senior executives of government enterprises, like the insolvent Electric Utility, plus police escort and office expenses of former governors.
|
|
The mainly Spanish speaking island has $70 billion in debt, a 45 percent poverty rate, woefully underperforming schools and near-insolvent pension and health systems.
|
|
EasyJet does not currently fly to Frankfurt but is expanding in Germany by taking over part of insolvent Air Berlin's operations at Berlin Tegel airport.
|
|
Op-Ed Contributor ATHENS — After last summer, when the clash between Greece's Syriza government and the insolvent state's creditors ended, the world's media moved on.
|
|
The Detroit public schools have been under state-appointed emergency managers for years, and officials have warned that the district could be insolvent within weeks.
|
|
" He added, "Although it was Ben and Tim's decision to make, I shared their view that Lehman was insolvent and I know the marketplace did.
|
|
"Argentina is not insolvent, rather the country faces a severe liquidity shortage," Jan Dehn, global head of research at Ashmore Group, wrote in a note.
|
|
That may also appear minor, but providing a mechanism for reorganizing insolvent companies speedily is central to increasing private investment, a critical need for India.
|
|
As copycat investors flooded into the buyout markets, the quality of deals deteriorated — laughably, one major acquisition was insolvent on the day the deal closed.
|
|
Dodd-Frank further requires a bank to draw up plans for a quick and orderly shutdown if it becomes insolvent — or runs out of money.
|
|
Even more worrisome: If current spending and demographic trends continue, the entire program will be insolvent by 2029, according to the latest Medicare Trustee's Report.
|
|
BRUSSELS, Dec 21 (Reuters) - The European Commission cleared Lufthansa's acquisition of insolvent Air Berlin's subsidiary LGW, subject to conditions, the EU's executive said on Thursday.
|
|
Dia was bought in May 2019, when it was near-insolvent, by a Russian investment fund called LetterOne, led by Russian business magnate Mikhail Fridman.
|
|
Dia was bought in May 2019, when it was near-insolvent, by a Russian investment fund called LetterOne, led by Russian business magnate Mikhail Fridman.
|
|
Several banks have been fined (Deutsche Bank, UniCredit), one has apologized (Macquarie), others have pledged cooperation with investigators (Santander, Deutsche Bank) and two are insolvent.
|
|
Bidders for insolvent airline Niki have until Thursday to submit their offers for the Austrian unit of collapsed Air Berlin, its administrator said on Monday.
|
|
BERLIN, Sept 23 (Reuters) - Lufthansa has no plans to acquire insolvent British travel company Thomas Cook, the airline told German newspaper Die Welt on Monday.
|
|
A country with high soft budget constraints and a large number of insolvent firms may then struggle for financing, which could have global financial implications.
|
|
The fund also maintains that the company could have been insolvent when it transferred the MyTheresa, potentially causing it to have defaulted on its debt.
|
|
Second, global banks are significantly better capitalized than they were in 2007 — they have bigger cushions that allow them to suffer losses without becoming insolvent.
|
|
Second, global banks are significantly better capitalized than they were in 2007 — they have bigger cushions that allow them to suffer losses without becoming insolvent.
|
|
BERLIN, Oct 26 (Reuters) - Air Berlin will sell its maintenance unit to a consortium, saving at least 300 jobs, the insolvent German airline said on Thursday.
|
|
PRAGUE (Reuters) - Czech-based internet investor Rockaway Capital will acquire assets of insolvent German online travel company Unister, including popular sites like flight booking platform fluege.
|
|
EasyGroup, which owns the Fastjet brand, said in a letter on Thursday there was a risk that Fastjet could become insolvent in the next few months.
|
|
According to Louisiana's public defender, James Dixon Jr., 31 of the state's 42 public defender districts will be insolvent, or close to it, within the year.
|
|
In England and Wales, which accounts for the vast majority of Britain's population, 1 in 433 people registered as insolvent — the highest rate in five years.
|
|
The Pension Protection Fund, a statutory body that manages the pension schemes of insolvent companies, says the company's pension deficit is now about 900 million pounds.
|
|
Proceeds of the paper went to Etihad and other airlines it partially owned at the time, including Alitalia and Air Berlin, which are now both insolvent.
|
|
Bankruptcy could sabotage Rossello's top-priority efforts to secure federal funding for the island's near-insolvent Medicaid system, the federal health insurance system for the poor.
|
|
MONZA, Italy (Reuters) - Former motor racing driver Niki Lauda is working on a bid to buy back the Niki subsidiary of insolvent airline Air Berlin AB1.
|
|
Chinese officials, like their Western peers, openly fret about zombie companies—insolvent firms kept alive by banks—but are far less willing to kill them off.
|
|
Moody's fears that if rates stay low for another four years, loss-making insurers will eat into their capital buffers, and some could—eventually—become insolvent.
|
|
Public pensions, which owe $45 billion in benefits, are also virtually insolvent after generations of lawmakers ignored growing funding gaps or botched attempts to close them.
|
|
Government data earlier this year showed the number of people registering as insolvent in England and Wales hit a five-year high in the third quarter.
|
|
The plan is due to start going insolvent later this year, threatening pension checks and the healthcare benefits that come from the same mine lands fund.
|
|
The cutbacks generally are intended to help shore up unemployment insurance trust funds, which went insolvent in 35 states following the recession that began in 2008.
|
|
Provisions on average cover 60 percent of the value of loans to insolvent borrowers while the coverage of so-called 'unlikely-to-pay' loans is lower.
|
|
But the court decision, while providing clarity, also increased the chance that more wells from insolvent companies will be left for the OWA to clean up.
|
|
When companies are insolvent, their idle wells can end up in the province's orphan well association (OWA) program if no party is legally responsible for them.
|
|
Five small banks are deemed insolvent by the IMF, including three public banks and the overall fiscal costs of their resolution could reach 0.7% of GDP.
|
|
The company said it moved the Mytheresa online business on Tuesday, a transfer that Marble Ridge said in the letter may have made the company insolvent.
|
|
Hannity says that because Suniva and Solarworld are both in financial turmoil—the former is bankrupt, the latter insolvent—and seeking a "bailout" from the government.
|
|
No need to worry about whether your bank might fail, whether it might become illiquid or insolvent, or whether your deposit was over the insurance limit.
|
|
As the credit markets tightened and chemicals sales declined, Apollo asked a Delaware court to rescind the deal, arguing that the combined company would be insolvent.
|
|
He concluded that if Walmart paid the tax on demand, it would be sending the money to an insolvent government that would never pay it back.
|
|
Amid the resulting outcry, the oversight board asked the judge overseeing the restructuring case to appoint a new leader for the authority, which itself is insolvent.
|
|
The bank is not considered insolvent, although it lost €189 million, or $215 million, during the first nine months of 2018 on revenue of €373 million.
|
|
Prepa was not originally included when Puerto Rico sought court protection from its creditors in May, under a special law for insolvent territories, known as Promesa.
|
|
Millions of retirees and workers are at risk of losing their multiemployer pension benefits because their plans are forecasted to become insolvent in the near future.
|
|
Because the plans were not subject to state regulations that required insurers to have adequate financial resources, some became insolvent, leaving people with unpaid medical bills.
|
|
This plan moves us from an insolvent, unfunded system, which is going to bankrupt our children, to a fully funded system on which we can count.
|
|
Also in the corporate world, Lufthansa is prepared to pay 200 million ($238.67 million) euros to buy assets from the insolvent Air Berlin, according to Reuters.
|
|
Entitlement spending grabbed headlines last week, with the news that Medicare's Hospital Insurance Trust Fund will become insolvent by 2026, three years earlier than previously projected.
|
|
The company, known as SixCap, was placed into insolvent liquidation last month in the British Virgin Islands where it's incorporated, according to a statement dated Feb.
|
|
FRANKFURT (Reuters) - The administrator of Niki said he would press ahead with an agreed sale of the insolvent Austrian airline to British Airways owner IAG (ICAG.
|
|
Puerto Rico has $70 billion in debt, a poverty rate above 46 percent, and near-insolvent pension and health systems, a fact not lost on the arrivals.
|
|
In the airline industry, British Airways owner IAG added 2.7 percent after it agreed to buy Niki, Air Berlin's insolvent Austrian holiday airline, for 20 million euros.
|
|
Recapitalizing Privatbank and other large lenders, reducing their lending to shareholders and closing insolvent banks, were among conditions of Ukraine's $17.5 billion IMF aid-for-reforms program.
|
|
The strategy of preserving or extending American dominance around the world is "increasingly insolvent", concludes Peter Beinart, from City University of New York, writing in the Atlantic.
|
|
"The national promotional focus over the past five years … has decimated [us] and left many franchisees unprofitable and even insolvent," the letter states, according to the Post.
|
|
But Greybull's record since it launched in April 22017 has been patchy, with four of the 22015 companies it bought later declared insolvent or placed into administration.
|
|
This is because the Tier 2 instruments will be non-performing or will reach a point-of-non-viability when the issuing bank becomes insolvent or defaults.
|
|
It first became insolvent in 331.523 after losing $1.4 billion over six years from contracts under which it sold the bulk of its output below market prices.
|
|
Alternatively, rates could surge given the fact that insolvent Japanese government bonds will be losing the only buyer willing to receive a guaranteed yield of zero percent.
|
|
The China Academy of Social Sciences (CASS), a government think-tank, said in a report in April that the country's pension funds could become insolvent by 2035.
|
|
As a result, those institutions wound up with outsize exposure to the bank, which itself was found insolvent last year by Puerto Rico's Commissioner of Financial Institutions.
|
|
DE 17 long-haul aircraft and their transatlantic routes in a carve-up of the insolvent carrier, a person familiar with the matter told Reuters on Tuesday.
|
|
The nonpartisan Congressional Budget Office (CBO) projects the Social Security and Medicare trust funds will become insolvent in 28500 and 6900, respectively, forcing them to cut benefits.
|
|
However, this program is chronically insolvent, with calls for reform and FEMA resorting to tapping reinsurance markets to help keep the program viable in its current form.
|
|
It would also allow some retirees who lose health benefits because their former employer have become bankrupt or insolvent to join one of the multiemployer health plans.
|
|
The stake was worth as much as $1.5 billion in recent weeks, according to regulatory filings compiled by Bloomberg, before the company became officially insolvent on Monday.
|
|
For more than a year, Puerto Rico has been pushing to restructure its $72 billion in debt under Chapter 9, the bankruptcy code for insolvent local governments.
|
|
Crippled by high poverty and nearly insolvent public health and pension systems, Puerto Rico is trying to restructure $70 billion in debt to fend off economic catastrophe.
|
|
The unsecured creditors argued the company is "administratively insolvent," meaning it cannot even pay the cost of running its bankruptcy case, which was filed in Wilmington, Delaware.
|
|
If Mr. Trump was insolvent at the time — if his debts exceeded his assets — he might have avoided having to report the forgiveness of debt as income.
|
|
But the administration said Tuesday that it would restore the program because otherwise health plans could become insolvent or withdraw from the market, causing chaos for consumers.
|
|
" He continued: "In the absence of income, restaurants simply cannot pay our non-working team members for more than a short period of time without becoming insolvent.
|
|
Puerto Rico's power company, known as Prepa, was insolvent even before the hurricane hit and would have a hard time producing such upfront money on its own.
|
|
The IMF wants to ensure the nationalisation is not reversed and legislation is pending parliament's approval to prevent banks declared insolvent from returning to their former owners.
|
|
Lumping together Michigan factory workers, Arizona retirees, disenfranchised African-Americans, flood-ravaged Nebraska farmers and insolvent college students fails to reflect multiple differences of opinion and circumstance.
|
|
My view is that it would be regarded as an insolvent savings and loan institution with a terribly mismatched balance sheet that was headed for meaningful trouble.
|
|
In an earlier incarnation, the agency's mandate was to auction off insolvent companies, which it often did live on television, making the sales both transparent and public.
|
|
L) is considering a takeover of insolvent holiday carrier Niki, a spokesman said on Thursday, after Niki was left looking for a new investor following Lufthansa's (LHAG.
|
|
Though Cohmad is insolvent, Picard said he plans to keep pursuing claims against six other individuals who received "substantial fees" for helping Cohmad raise money for Madoff.
|
|
Accounting firm Grant Thornton was appointed as receiver when RedWater, a company producing only about 270 barrels of oil equivalent per day (boepd), became insolvent last May.
|
|
LONDON, Oct 16 (Reuters) - British budget airline easyJet said on Monday it had submitted an expression of interest in acquiring parts of Italy's insolvent national carrier Alitalia.
|
|
Even though there is widespread recognition that the island is insolvent, it is yet to restructure its public debt mountain or to address its chronic pension situation.
|
|
BERLIN (Reuters) - The German government confirmed on Wednesday it was willing to repay customers of insolvent Thomas Cook as the tour operator's insurance coverage was not sufficient.
|
|
BERLIN (Reuters) - The German government confirmed on Wednesday it was willing to repay customers of insolvent Thomas Cook as the tour operator's insurance coverage was not sufficient.
|
|
The government has also spent 155 billion hryvnias ($6.4 billion) propping up PrivatBank, saying the lender had become insolvent due to shady lending practices under Kolomoisky's ownership.
|
|
Such manufacturers in China "are technically insolvent, but they still get capital," said Mark Widmar, the chief executive of First Solar, a large manufacturer based in Phoenix.
|
|
Puerto Rico has $120 billion of combined bond and pension debt and near-insolvent public health systems, and filed the largest-ever U.S. government bankruptcy this year.
|
|
And those reports showed that Fannie and Freddie were both essentially insolvent at the end of 2007, at the business-cycle peak before the recession had really started.
|
|
DE) reinforced its position as Germany's largest airline on Thursday by signing a 210 million euro ($249 million)deal to buy large parts of insolvent Air Berlin AB1.
|
|
Former Formula One world champion Niki Lauda is working with travel group Thomas Cook in his bid to buy insolvent Austrian airline Niki, he told Austrian paper Kurier.
|
|
On Monday, the government declared the country's largest lender insolvent and took it under state control, part of an IMF-backed crackdown on lenders with shaky balance sheets.
|
|
On Tuesday, the South African Reserve Bank (SARB) said VBS was "hopelessly insolvent" and that the regulator had applied to the High Court to close down the bank.
|
|
They can also be taken on by carriers in the event of a takeover, such as has happened with Lufthansa buying large parts of insolvent rival Air Berlin.
|
|
Other potential turnoffs include the sheer complexity of contracts and the legal complications in the event one link in the chain becomes insolvent and unable to maintain commitments.
|
|
And because of the expense to care for the animals, the BLM can only gather between 22015,215 and 4,500 animals a year or "we'd become insolvent," Lutterman said.
|
|
The insolvent German carrier and EasyJet are expected to announce a deal on Friday for the purchase of up to 25 A320 aircraft, German media reported on Thursday.
|
|
But Beijing has also sought to ensure a smooth exit for hundreds of insolvent enterprises in a bid to avoid unemployment and political instability in struggling industrial regions.
|
|
The same banks were sued by Puerto Rico's federally created fiscal oversight board in May for allegedly aiding and abetting the island's "clearly insolvent" government to issue debt.
|
|
The big question in the media world today is whether MoviePass parent company Helios and Matheson can stanch the bleeding of its cash flows before it becomes insolvent.
|
|
But despite Elliot's digital detox, the episode still managed to fit in a few good hacks, ranging from a booby-trapped computer to a catastrophically insolvent Bitcoin bank.
|
|
In November the bank was found to be insolvent, and in April it was sued by a group of hedge funds calling for its assets to be frozen.
|
|
Some 90,930 people in England and Wales were declared insolvent in 2015, up 20103 percent from 2015 but still lower than any other year in the past decade.
|
|
CBO's August 2016 report on the PBGC's multiemployer program pointed out that the plans likely to become insolvent have assets of $85033 billion and liabilities of $100 billion.
|
|
This year the Medicare Trustees announced that the Part A Trust Fund, which pays for hospital, skilled nursing, hospice and home health care, will be insolvent in 2026.
|
|
Ever since the Great Depression, our country has provided a lifeline for insolvent municipalities, local public corporations, and their creditors: a last-resort, court-supervised debt restructuring process.
|
|
In that deal, Dow argued that specific performance could not be granted because it was an equitable remedy that would render Dow virtually insolvent and cause it harm.
|
|
The Social Security trust funds are estimated to become insolvent in 22019, and AAF is concerned that the paid leave proposal would worsen the outlook for Social Security.
|
|
When Cuff became insolvent, an affiliated Tandem holding company, Bijoux, acquired the bridge loans and exercised its rights under the loans to acquire the few remaining Cuff assets.
|
|
In addition to its debt, Puerto Rico faces a 45 percent poverty rate, near-insolvent public health and pension systems, and unemployment more than twice the U.S. average.
|
|
The governor also said he feels "Congress really needs to act in the next coming weeks" to help Puerto Rico shore up its near-insolvent public health system.
|
|
It has nearly $72 billion in debt and a $50 billion pension gap, to go along with a 45 percent poverty rate and near-insolvent public health systems.
|
|
A hike in the tax would help fix the ailing trust fund, which the Congressional Budget Office predicts will be insolvent in the next decade without concrete solutions.
|
|
Companies receiving an emergency loan from the Fed can't be insolvent, and the central bank has to make sure that it has sufficient collateral to back its loans.
|
|
Separately, former motor racing driver Niki Lauda is working on a bid to buy back the Niki subsidiary of insolvent airline Air Berlin, he told Reuters on Sunday.
|
|
After a three-year recession, Italian lenders are struggling with 360 billion euros ($400 billion) of problem loans, of which 200 billion euros are to borrowers deemed insolvent.
|
|
SAN JUAN (Reuters) - Creditors overwhelmingly approved a plan to restructure bonds issued by Puerto Rico's insolvent Government Development Bank (GDB), according to preliminary voting results announced on Thursday.
|
|
The new legislation also stipulates no court can prevent the state from selling the assets of insolvent banks even if the insolvency were later found to be unlawful.
|
|
If the insurer went insolvent, retirees would be able to seek redress from state insurance guaranty associations, which provide a backstop to their benefits up to certain limits.
|
|
More than 160 food companies became insolvent in 2015, which is more than three times the 48 insolvencies in 2010, according to the research cited by The Independent.
|
|
Last-ditch talks with key financial stakeholders also failed to reach a deal and the directors concluded the business was insolvent at a board meeting held the same day.
|
|
MOSCOW, Oct 19 (Reuters) - The Croatian government's behaviour towards insolvent retail conglomerate Agrokor infringes creditors' rights, German Gref, the chief executive of Russia's top lender Sberbank, said on Thursday.
|
|
In Britain, Sir Philip Green reached a settlement with regulators to top up the insolvent pension fund for workers at BHS, a bankrupt retail chain that he once owned.
|
|
Redwater became insolvent last May and receiver Grant Thornton wanted to carve out and sell off the company's 19 producing wells and renounce ownership of 70 non-producing wells.
|
|
The price between just a single generic and a name brand can be humongous—with multiple drugs, it can be enough to make someone living on a fixed insolvent.
|
|
The Medicare trust fund will be insolvent by 2029, according to the program's trustees, who also report Social Security's combined trust funds will be depleted by 2034, per MarketWatch.
|
|
FRANKFURT, Dec 18 (Reuters) - Bidders for insolvent airline Niki have until Thursday to submit their offers for the Austrian unit of collapsed Air Berlin, its administrator said on Monday.
|
|
We're each estimated to put $400,000 into Social Security over our working careers, yet even the program's own analysts predict it will be insolvent in less than 20 years.
|
|
VIENNA (Reuters) - Settling a legal dispute, airline Niki's German and Austrian administrators agreed to cooperate to resolve the insolvent carrier's future swiftly and guarantee legal certainty for its buyer.
|
|
According to credible accounts, Geithner slow-walked a direct presidential order to prepare the breakup of Citigroup, instead undertaking other measures to nurse the insolvent bank back to health.
|
|
Harkan told those present that the company was a "mess and hopelessly insolvent," but that he had been appointed by King Salman to lead its turnaround, said one attendee.
|
|
Facing steep losses stemming from the financial crisis, Central States has warned that it cannot continue paying out benefits at current levels, projecting it will be insolvent by 2026.
|
|
The U.S. commonwealth also suffers from a near-insolvent public health system, having spent the last 10 years in recession with debt piling up to pay for basic services.
|
|
DE are threatened by dismissal, union documents showed on Friday, with the insolvent carrier's entire ground staff due to get their notices of termination by the end of October.
|
|
Dodd-Frank called for the Fed's emergency lending power to be used on a broad basis for several firms at once, not to bail out a single insolvent company.
|
|
Public debt as a share of GDP is rising steadily, partly thanks to insolvent state-owned enterprises such as Eskom, a power utility that cannot keep the lights on.
|
|
PG&E shares climbed nearly 2% after the insolvent utility announced that power had been restored to more than 100,000 customers amid a widespread power outage over wildfire concerns.
|
|
The number of companies registering as insolvent fell by 13 percent to some 11,000 compared to the first six months in the previous year, the Federal Statistics Office said.
|
|
Many rail companies became insolvent and most teetered on bankruptcy, as regulations forced rail operators to travel on inefficient and unprofitable routes and laws prohibited the abandonment of tracks.
|
|
" It is important to note that "insolvent, however, does not mean empty; it means that the funds would not be able to completely fulfill its debts to the public.
|
|
FRANKFURT, Dec 11 (Reuters) - Germany is planning to repay customers of insolvent Thomas Cook as the tour operator's insurance cover is proving insufficient, broadcaster ARD reported, citing government sources.
|
|
One of Neiman Marcus' debt investors claims the struggling luxury department store may be insolvent and in default on its bonds after shuffling around some assets earlier this month.
|
|
"(The) court concludes that ... equity has carried its burden that Breitburn does not appear to be hopelessly insolvent," bankruptcy Judge Stuart Bernstein of the Southern District of New York said.
|
|
SOFIA, April 16 (Reuters) - Bulgaria's Investbank has signed a deal to acquire small Victoria Bank for an undisclosed sum, the receiver of insolvent Corporate Commercial Bank (Corpbank) said on Monday.
|
|
Individual voluntary arrangements, a form of debt relief short of bankruptcy, accounted for most of the rise in people registering as insolvent in the second quarter, the Insolvency Service said.
|
|
The same source said the island's treasury department is not considering removing money from GDB, but is considering opening new accounts at other banks in the event GDB becomes insolvent.
|
|
Following 14 years of rule by the free-spending Workers' Party, he has implemented conservative fiscal, monetary and labour policies, reducing inflation and advocating reform of the insolvent pension system.
|
|
"This is a sham lawsuit about a bogus Russian collusion claim filed by a desperate, dysfunctional, and nearly insolvent Democratic Party," the campaign's manager, Brad Parscale, said in a statement.
|
|
The power producer first became insolvent in 2012 after losing $1.4 billion over six years due to contracts under which it sold the bulk of its output below market prices.
|
|
BERLIN (Reuters) - Large wind turbine companies and private equity firms are interested in buying insolvent German group Senvion, Chief Executive Yves Rannou told Reuters in an interview published on Friday.
|
|
HAMBURG, Aug 18 (Reuters) - German oilseed crushing mill Naturoel Anklam has filed for insolvency at a local court, said its parent, German farm company KTG Agrar which is itself insolvent.
|
|
VIENNA (Reuters) - Former motor racing driver Niki Lauda has submitted an offer for the insolvent Austrian airline Niki, which he founded in 2003, a spokeswoman for Lauda said on Thursday.
|
|
In addition, even if the Trust Fund were to become insolvent, by spending more than it takes in, Medicare would still be able to pay out 85033 percent of benefits.
|
|
Early in April, a group of hedge funds sued the bank, arguing that it was insolvent and was using its scarce resources to "prop up" other parts of the government.
|
|
DE remaining assets will continue over the weekend, with the goal of presenting a proposal to the insolvent German carrier's creditors on Tuesday, Air Berlin Chief Executive Thomas Winkelmann said.
|
|
But even if all the troubled multiemployer pension plans were to become insolvent, their underfunding would be less than half that amount, according to their 22019 annual filings with regulators.
|
|
Defenders of the theory that Lehman was deeply insolvent also point to the fact that Lehman's creditors ended up suffering tens of billions of dollars of losses in the bankruptcy.
|
|
Judge José Antonio Fusté not only drew on the confidential finding that the bank was insolvent, but also wrote that the bank had not had a required examination since 2007.
|
|
The coming court proceedings will not be formally called a bankruptcy, since Puerto Rico remains legally barred from using Chapter 9, the bankruptcy route normally taken by insolvent local governments.
|
|
Plans that are deemed "critical and declining," as well as recently insolvent but non-terminated plans and those that have suspended benefits, would be eligible to apply for the program.
|
|
It also proposes a strategy to stabilize the multiemployer pension system and the long-term solvency of the Pension Benefit Guaranty Corporation, a federally chartered entity that supports insolvent pensions.
|
|
A better fix would be to come up with a plan that would minimize losses for those in insolvent plans and take taxpayer money out of the equation, she said.
|
|
He said minor technical issues needed to be resolved first, including how to structure legislation that would make it illegal for insolvent banks to be returned to their former owners.
|
|
On pensions, Warren favors S. 2254 (116), which would shore up insolvent multiemployer pensions like the Teamsters' Central States Pension Funds and the United Mine Workers' Pensions & Retiree Health Care.
|
|
The district maintains that its current financial situation is "not sustainable," and unless something changes, it will be insolvent by 2021, when it will have depleted a $1.8 billion reserve.
|
|
If it was possible to lend €80bn of ELA to Greek banks to keep them afloat when they were completely insolvent, then why couldn't they do the same with Popular?
|
|
"The government has displayed a complete disregard for the fair, frank and reasonable dealing with outsiders which BCL's insolvent circumstances demanded," Norilsk Nickel Africa CEO Michael Marriott said in a statement.
|
|
The program is certainly popular – if insolvent – now, but what did voters think about the government-backed insurance program for the aged when it was passed in the summer of 1965?
|
|
BERLIN, Oct 20 (Reuters) - Lufthansa's budget airline Eurowings will offer steep discounts to holidaymakers left stranded abroad after insolvent Air Berlin stops flying next week, Eurowings' chief executive said on Friday.
|
|
Overall, the number of bankruptcy case numbers remained low as governments used "roguish methods" such as debt-for-equity swaps and private-public partnerships to keep insolvent firms alive, he added.
|
|
Alpha seeks this relief after demonstrating to this Court that it is so hopelessly insolvent that its shareholders have no chance of seeing any return on their investments into the companies.
|
|
Slovenia's new law allows the government to appoint an associate management board member at companies with over 6,000 employees if their majority shareholder becomes insolvent, the government said in a statement.
|
|
BERLIN (Reuters) - A legal challenge against Berlin's decision to grant a state bridging loan for insolvent airline Air Berlin won't stop dispersal of the funds, the German government said on Tuesday.
|
|
Retirement spending is a contentious issue on an island where pension systems are already borderline insolvent thanks to decades of mismanagement by governments that routinely made overly generous promises to workers.
|
|
If Social Security became insolvent, all bets are off: the 25 percent across-the-board benefit cut that would occur around 2030 would pummel middle-income retirees and crush the poor.
|
|
"The Single Supervisory Mechanism and the Single Resolution Mechanism have to assert their power ... in order to restructure a stressed credit institution or ultimately wind down virtually insolvent banks," he said.
|
|
But the NASI experts note that historical trustee projections regarding how soon the trust fund will become insolvent have varied widely - as little as two years, and as much as 28.
|
|
VIENNA (Reuters) - In the battle for insolvent Austrian airline Niki, its founder Niki Lauda sought to woo employees in an open letter on Wednesday by promising jobs to all current staff.
|
|
MF said REV, the "bad bank" that took on the four lenders' bad loans, may acquire also the bulk of loans that have become insolvent in the course of this year.
|
|
S.E.C. The defendant, Raymond Dirks, was a star securities analyst who heard from a whistle-blowing employee that an insurance company named Equity Funding was hiding that it was hopelessly insolvent.
|
|
Fannie and Freddie were not insolvent at the time of their seizures; to the contrary, they were, under applicable generally accepted accounting principles (GAAP), in full compliance with all capital requirements.
|
|
The Surface Mining Control and Reclamation Act of 1977 requires coal companies to purchase bonds — effectively, insurance policies — that can be used to pay for reclamation if the companies are insolvent.
|
|
SAO PAULO, Sept 19 (Reuters) - A reform to cut overly generous pension benefits is necessary to prevent Brazil from becoming insolvent in coming years, Finance Minister Henrique Meirelles said on Monday.
|
|
Earlier this year, Tata Steel bought the insolvent Bhushan Steel for 352 billion rupees ($5.14 billion), which reportedly was nearly two-thirds of the loans the company owed to its lenders.
|
|
"The price one must pay for an insolvent airline is lower than that of one that is still flying," he said, when asked about how much he was willing to offer.
|
|
Indicated 0.3 percent higher The insolvent airline has attracted buyer interest from China's LinkGlobal Logistics, which is likely to join a growing list of suitors, German newspaper Bild said on Wednesday.
|
|
The island had earlier this year filed the biggest bankruptcy in U.S. municipal history in the face of a $72 billion debt load and near-insolvent public health and pension systems.
|
|
Multiple attempts to contact the company have been unanswered, and I've received a note from a current employee noting that Adero has sent out notices saying the company is now insolvent.
|
|
"I do not believe the company is insolvent although I do believe they need to raise money," Left said, adding that there will be a better time to buy the stock.
|
|
After Ablyazov fled, an audit allegedly found a multibillion-dollar "massive hole" in the bank's books, and BTA, one of Kazakhstan's largest lenders at the time, was nationalized and declared insolvent.
|
|
In an essay published earlier this year, Warren wrote that the bill's passage caused bankruptcy filings to permanently fall by 50% and the number of insolvent people to rise by 25%.
|
|
South Korea's banks would reach a PONV when designated as an insolvent financial institution (FI) as defined in Article 2 of the Act on the Structural Improvement of the Financial Industry.
|
|
But with the tax unchanged in two decades — and absent other concrete funding alternatives — the Congressional Budget Office predicts that the Highway Trust Fund will be insolvent in the next decade.
|
|
While some of these methods work well, the majority of them – especially the Highway Trust Fund, which will be insolvent by 85033 – are woefully inadequate and are falling behind growing needs.
|
|
The Bank of Italy said in its monthly report that Italian banks held 173.6 billion euros ($208 billion) in insolvent loans in July, down from 192.0 billion euros a month earlier.
|
|
BERLIN (Reuters) - Irish toys group Smyths Toys has signed a deal to take over Toys 'R' Us in Germany, Austria and Switzerland, the German arm of the insolvent retailer said on Saturday.
|
|
First, the administration must make it clear that all insolvent banks will be allowed to fail and losses will be imposed on creditors of the entire banking organization based on normal priorities.
|
|
EasyJet is already interested in picking up about 27-30 planes, including associated slots and crew at Berlin airport, from insolvent Air Berlin, an administrator for the German airline said this week.
|
|
Last-ditch talks with key financial stakeholders also failed to reach a deal and the directors concluded the 200-year-old business was insolvent at a board meeting held the same day.
|
|
Second, some argue that government-mandated bank capital requirements are necessary to protect the financial system against an asset-price "shock" that could render a major portion of the banking system insolvent.
|
|
FRANKFURT (Reuters) - The European Commission on Monday approved a German bridging loan for Air Berlin that will keep the insolvent airline's planes flying while it tries to find buyers for its assets.
|
|
Current inflation expectations were very low, while even if the SNB suffered massive losses from its stock and bond investments it could not become insolvent because of its ability to create money.
|
|
After an official research report showed China's total pension pot could be "insolvent" as early as 2035, Chinese government officials have sought to reassure the public that their pensions will be guaranteed.
|
|
IAG had been one of the initial bidders for Niki, a subsidiary of insolvent group Air Berlin and seen as one of its most attractive assets, but IAG lost out to Lufthansa .
|
|
In 2014, the foundational Bitcoin exchange Mt Gox was revealed as massively insolvent in the wake of a $400 million theft, an event that resulted in permanent damage to the currency's reputation.
|
|
BRASILIA (Reuters) - Brazilian President Michel Temer warned on Friday that without the unpopular austerity measures he is pushing through to cut public spending and balance the budget, the government will become insolvent.
|
|
But ultimately, the reason that a country with more oil reserves than Saudi Arabia is hopelessly insolvent is the destruction of its private sector by Mr Maduro and his predecessor, Hugo Chávez.
|
|
But the back and forth by Chinese authorities as they weigh the risks of just how hard to be on effectively insolvent companies confuses investors and threatens financial instability in debt markets.
|
|
Just under 0.2 percent of people in England and Wales went insolvent in 2016, up from 0.18 percent in 2015, though well below a peak of more than 0.3 percent in 2010.
|
|
Lufthansa has been a key player in hectic M&A activity in the industry, snapping up Brussels Airlines and parts of insolvent Air Berlin last year to expand in the budget market.
|
|
"It seems there are now doubts as to whether the business really is insolvent, which makes the pension situation more difficult," said Ros Altmann, independent pensions expert and former UK pensions minister.
|
|
Because of tax law nuances, it is possible that either Trump's losses were significantly higher than the reported $1.17 billion (approximately $2 billion during that period) or, alternatively, that Trump was insolvent.
|
|
PREPA, already insolvent when Maria hit, has fetched more unwanted attention since, drawing investigations over a questionable repair contract and the discovery of undistributed hurricane recovery materials in one of its warehouses.
|
|
The island says it urgently needs to restructure its $72 billion in debt but cannot, because Chapter 9 of the bankruptcy code — the chapter for insolvent local governments — specifically bars Puerto Rico.
|
|
As a result, the vast majority of the paid leave benefits given to people before Social Security becomes insolvent would be financed by the federal government borrowing money and increasing the debt.
|
|
Furthermore, the Pension Benefit Guaranty Corporation that is supposed to insure lost pension benefits will itself be insolvent and unable to replace anything more than a tiny portion of the lost benefits.
|
|
The court did not dispute arguments that a fiscal crisis could make the funds insolvent, but said higher pension premiums and reduced retiree benefits impaired public-pension rights guaranteed by the constitution.
|
|
Denel has not yet released financial results for the 2018/19 fiscal year, but was projected to be insolvent, according to a presentation to parliament's portfolio committee on public enterprises on Wednesday.
|
|
Read it on a beach for the refreshment of a classic boy-meets-girl plot, or turn the pages more slowly to soak in some truly salty koans and morally insolvent characters.
|
|
Talks between the insolvent carrier Air Berlin and easyJet over the sale of up 30 planes are at risk of falling apart, according to a report in Germany's B.Z. newspaper on Monday.
|
|
BERLIN (Reuters) - The German government will decide within the next coming days on whether to offer financial support to Condor, the German airline owned by insolvent British travel operator Thomas Cook (TCG.
|
|
Soft budget constraints refer to the idea that state-owned firms will not be allowed to go bankrupt if they go insolvent because the state has vested interests in keeping them afloat.
|
|
Lufthansa has been a key player in hectic M&A activity in the industry, snapping up Brussels Airlines and parts of insolvent Air Berlin in 2017 to expand in the budget market.
|
|
UniCredit's capital ratios lag those of several peers and will be further eroded by the planned sale of a large chunk of its 51 billion euro portfolio of loans to insolvent borrowers.
|
|
The National Flood Insurance Program (NFIP), designed more than a half-century ago, was meant to protect home and property owners, but it has become severely outdated, inefficient and is completely insolvent.
|
|
VAPIANO: The restaurant chain said on March 20 it was insolvent and would apply for government assistance to avoid formally filing for insolvency, blaming the coronavirus crisis for a drop in sales.
|
|
Under the express language of the custodian statute, the Supreme Court said, Chancery Court can order a custodian to take the same range of actions available to court-appointed receivers overseeing insolvent companies.
|
|
Earlier in October, the price of Tether, which is also meant to be pegged to the U.S. dollar, plummeted below 90 cents after reports that the Hong Kong-based cryptocurrency exchange was insolvent.
|
|
But legal experts say most legal bankruptcies involve SMEs, where the social impact is limited, while party-controlled courts still face strong incentives to keep larger companies operating rather than rule them insolvent.
|
|
Davis found that the operating unit was insolvent as far back as 2008, soon after the close of the $31 billion leveraged buyout of the Harrah's Entertainment casino company by TPG and Apollo.
|
|
German Justice Minister Heiko Maas called on Lufthansa this week to accept Air Berlin tickets on routes it was taking over from the insolvent airline as part of its deal to buy planes.
|
|
"The directors of 1MDB confirmed that 4.53MDB was 'insolvent' and was unable to repay its debts," Lim said, adding that he had asked the ministry's legal advisers to review Arul's position at 1MDB.
|
|
The parties being sued "knew or should have known that the commonwealth was insolvent, in the vicinity of insolvency, or unable to satisfy its obligations as they became due," the fiscal panel argues.
|
|
Harvey Weinstein allegedly owes his ex-wife Eve Chilton $603 million in child support, and she's asking that he pay remaining sum now in case his current legal troubles leave him financially insolvent.
|
|
Because of their excessive collection — and also because of the shift in textile production toward Asia in the 1970s — the brothers' business eventually became insolvent, so they left France and returned to Switzerland.
|
|
The organization focuses on the poor: debtors have to earn less than twice the federal poverty level, are insolvent, or have medical debt that makes up at least 5% of their annual income.
|
|
If a firm is found to be insolvent by a specialised tribunal, the company's board is in effect fired and an independent expert appointed to run the firm on behalf of its lenders.
|
|
FRANKFURT (Reuters) - Air Berlin was forced to cancel flights for a second day on Wednesday after pilots again called in sick in unusually high numbers, potentially complicating efforts to rescue the insolvent carrier.
|
|
In contrast, loss-making Etihad built up a global network of partner airlines in which it invested; that strategy ran into trouble when two of the partners, Alitalia and Air Berlin, became insolvent.
|
|
Often, this meant the dollars someone was paid in one state wouldn't be accepted in the next state over, or would be worthless if the currency reserves of the issuing state became insolvent.
|
|
The high profile downfall of Dubai-based Abraaj — now reportedly the world's largest insolvent private equity fund — has raised questions about corporate mismanagement and transparency in the United Arab Emirates (UAE) and beyond.
|
|
The bankruptcies will also address $50 billion in underfunded pension liabilities, as Puerto Rico battles a historic crisis marked by a 45 percent poverty rate and near-insolvent public health and retirement systems.
|
|
In May, toward the end of the first quarter, an Alberta judge ruled proceeds from asset sales of insolvent junior producer Redwater Energy Corp should go first to secured creditors, rather than cleanup.
|
|
BERLIN, Dec 6 (Reuters) - Britain's easyJet will start competing with Lufthansa on domestic German routes from Berlin next month, following its planned acquisition of parts of insolvent Air Berlin, it said on Wednesday.
|
|
MUNICH, Dec 14 (Reuters) - Niki's administrator will start talks on Thursday with parties interested in buying the insolvent Austrian carrier after a deal with Lufthansa fell through, a spokesman for the administrator said.
|
|
BERLIN, Aug 15 (Reuters) - Easyjet is in talks to buy assets from insolvent Air Berlin, a person familiar with the matter told Reuters, adding that the talks centred on the German airline's slots.
|
|
On Wednesday, the government said Eskom was technically insolvent and needed an urgent bailout to help it manage its more than $30 billion of debt as it battles to keep its plants running.
|
|
"This is a sham lawsuit about a bogus Russian collusion claim filed by a desperate, dysfunctional, and nearly insolvent Democratic Party," said Brad Parscale, Campaign Manager of Donald J. Trump for President, Inc.
|
|
VIENNA, Dec 22 (Reuters) - December salaries will be paid to staff of insolvent airline Niki, whose administrators are working on selling its remaining assets, the head of Niki's works council said on Friday.
|
|
According to the Trustees, the combined Social Security trust funds are projected to be insolvent by 21625 – when today's 2900 year-olds reach the normal retirement age and today's youngest retirees turn 220006.
|
|
EU had misrepresented to British investigators the extent of its ties to Cambridge Analytica, the now disgraced and insolvent British data firm funded by the American political donor Robert Mercer to microtarget voters.
|
|
For many in Puerto Rico, where the poverty rate hovers near 50 percent and public pensions are nearly insolvent, FEMA's letter adds to a perception that the island is not getting fair treatment.
|
|
A second claimant, asset management firm Auctus Fund, also issued a winding-up petition — a call to force an insolvent company into compulsory liquidation — over an unpaid debt of more than $100 million.
|
|
Valley View filed for bankruptcy protection soon after, and its trustee sought to claw back the funds paid to Bedford shareholders, arguing that Valley View was insolvent at the time of the deal.
|
|
Medicare's hospital trust fund, which pays for inpatient and nursing care and is mainly funded through payroll taxes, is the one that is expected to be insolvent three years ahead of earlier forecasts.
|
|
The airline is set to pick up a large part of insolvent rival Air Berlin, with easyJet also still in the running for assets, two sources familiar with the matter said on Thursday.
|
|
It needs a restructuring to fend off economic strife in the form of a 45 percent poverty rate, unemployment more than twice the U.S. average, and borderline insolvent public pensions and healthcare systems.
|
|
Irish low-cost carrier Ryanair will not make an offer for assets of insolvent German airline Air Berlin, Chief Executive Michael O'Leary said, citing what he said was an opaque carve-up process.
|
|
DUESSELDORF/FRANKFURT, Aug 8 (Reuters) - Frank Asbeck, founder and former CEO of SolarWorld, has teamed up with Qatar to buy two of the insolvent panel maker's factories, sources familiar with the matter said.
|
|
The hedge funds, which own Puerto Rico bonds, based part of their lawsuit on a confidential report by Puerto Rico's Commissioner of Financial Institutions, which in November found the Government Development Bank insolvent.
|
|
They said in a letter to Congress members in February that annual payments exceed contributions by more than $2 billion, and that the fund is expected to become insolvent in about 10 years.
|
|
"Given Greece's fundamentals, the problem with this bond sale is that it fuels speculation about investor willingness to lend to an almost insolvent country," said ABN AMRO senior fixed income analyst Kim Liu.
|
|
The Fed must plan ahead to protect the financial system by making loans immediately to solvent banks based on their balance sheets and avoid lending to insolvent institutions, such as A.I.G. in 2008.
|
|
Worse, the bill cancels — just completely wipes out — $2628 billion of the nearly $28500 billion debt held by the chronically insolvent National Flood Insurance Program, with absolutely no reforms made to the program.
|
|
The banker has also met with members of the Finance Ministry at least three times in an effort to signal continuity with Temer's reform agenda, including changes to the country's insolvent pension system.
|
|
EU ProSun, a group of manufacturers including Germany's now insolvent SolarWorld, said that a reduction in minimum prices would kill jobs and investments in Europe and "gift" a key enabling technology to China.
|
|
We were a food-loving but insolvent family, so it came as a shock when my mother and stepfather announced that we'd be eating dinner in the grand dining room of the Ozone.
|
|
FRANKFURT/BERLIN, Dec 218.7 (Reuters) - The following are some of the factors that may move German stocks on Tuesday: Commission due to decide on easyJet purchase of parts of insolvent Lufthansa rival Air Berlin.
|
|
Puerto Rico is trying to escape a crisis marked by a 45 percent poverty rate, unemployment more than twice the U.S. average and near-insolvent healthcare and pension systems, in addition to its debt.
|
|
LONDON, July 30 (Reuters) - The number of insolvent companies in England and Wales hit its highest in more than five years in the second quarter of 2019, according to official data released on Tuesday.
|
|
BERLIN, Oct 27 (Reuters) - The administrator of insolvent German airline Air Berlin expects talks with easyJet and Thomas Cook's German airline Condor to reach a conclusion in the coming days, he said on Friday.
|
|
ArcelorMittal, which has long wanted to set up its own steel plant in India, did not bid for insolvent Bhushan Steel but told Reuters on Monday it remained interested in "future opportunities in India".
|
|
He attracted unwelcome attention though, when the founder of one of his clients, an insolvent developer of offshore wind farms, filed a criminal complaint accusing Simon of acting against the interests of the company.
|
|
VIENNA, Aug 18 (Reuters) - Union representatives of insolvent Air Berlin's Austrian unit Niki Airlines said its future was unclear and they hoped for support from the Austrian government if it runs out of money.
|
|
Title III is an in-court debt restructuring process akin to U.S. bankruptcy protection, since Puerto Rico is barred from using Chapter 9 of the U.S. federal bankruptcy code reserved for insolvent public entities.
|
|
Visco said better quality data could help banks more actively manage doubtful loans before borrowers become insolvent so that they could either help them get back on their feet or, where necessary, raise provisions.
|
|
BERLIN, Aug 17 (Reuters) - A senior German government official was quoted as saying on Thursday that the assets of insolvent Air Berlin could not be bought by any one competitor due to regulatory reasons.
|
|
The retirees, all beneficiaries of the Central States Pension Fund, which is projected to be insolvent within a decade, were informed of the reductions through letters that began arriving in the mail last October.
|
|
"If an entity depends on market access to pay bills, that to us is effectively insolvent," said Triet Nguyen, who tracks distressed municipal bond credits at financial services company NewOak Capital in New York.
|
|
Lufthansa agreed last month to buy large parts of insolvent Air Berlin for 210 million euros to quickly expand its Eurowings budget business, consolidating its position as German leader by buying its closest rival.
|
|
The United States is already on track to dole out more money to pay off our debt than for defense, while Social Security and other entitlements are set to become insolvent within a decade.
|
|
BERLIN, April 26 (Reuters) - Large wind turbine companies as well as private equity firms are interested in buying insolvent German group Senvion, Chief Executive Yves Rannou told Reuters in an interview published on Friday.
|
|
MOSCOW, Nov 15 (Reuters) - A Turkish investor will buy Intourist from insolvent Thomas Cook and plans an initial public offering (IPO) in Russia's oldest travel agency once it is recapitalised, Intourist said on Friday.
|
|
ROME (Reuters) - A group of Alitalia employees is preparing to join up with a non-European carrier and two Italian financial partners to bid for the insolvent airline, Italian weekly Panorama reported on Wednesday.
|
|
In 2009, a CDU-led government teamed up with unions on Volkswagen's supervisory board to rescue insolvent parts maker Karmann in Osnabrueck, about 190 km (118 miles) west of Wolfsburg, safeguarding 2,000 local jobs.
|
|
Nyhan said that Central States is projected to become insolvent in 10 years or less and called on lawmakers who opposed its application to pass legislation to protect the benefits of its plan participants.
|
|
Lufthansa's supervisory board has approved plans by the airline to invest in up to 61 additional planes for its Eurowings budget arm, seeking to fill the gap left by insolvent German rival Air Berlin.
|
|
The Pensions Regulator said it helped to tackle unscrupulous advisers and fulfilled its primary role in evaluating and approving the complex restructuring of the British Steel pension scheme to prevent the company becoming insolvent.
|
|
Meanwhile, federal housing subsidy programs have stagnated, and the federal agencies that back up most of the American mortgage market have been in conservatorship ever since the financial crisis left them insolvent in 23.
|
|
About 1,400 employees at the insolvent carrier are threatened by dismissal, union documents showed on Friday, with Air Berlin's entire ground staff due to get their notices of termination by the end of October.
|
|
But Beijing has shown a greater willingness to let companies go insolvent to teach them a lesson about borrowing too much, and many local governments now lack the funds to help their hometown champions.
|
|
This is not the first wake-up call to emanate from a Medicare Trustee's Report — in 2900, they predicted the trust fund could have become insolvent by 220006 — and it won't be the last.
|
|
A deputy head of the State Guarantee Fund, which compensates the depositors of failed banks, told Reuters the proposed legislative changes would make it illegal for insolvent banks to return to their former owners.
|
|
Most notably, lenders will no longer be allowed to try to withdraw funds from a borrower's account after two failed attempts to collect, a practice that often leaves insolvent customers swamped with overdraft fees.
|
|
FRANKFURT, Sept 11 (Reuters) - German aviation investor Hans Rudolf Woehrl late on Sunday said a company controlled by his INTRO Group had submitted a 500 million euro ($600.70 million) offer to buy insolvent Air Berlin.
|
|
The department of public enterprises, which oversees Eskom, said in a presentation to parliament that Eskom was technically insolvent and would "cease to exist" at the current trajectory by April, unless it gets a bailout.
|
|
Struggling with a 45 percent poverty rate and near-insolvent public healthcare, the island in May filed a form of bankruptcy under the federal 2016 rescue law known as PROMESA, confronting creditors with unique challenges.
|
|
VIENNA (Reuters) - Niki Lauda aims to turn a profit from next year with Laudamotion, the airline he has rebranded after buying it back from insolvent Air Berlin, the ex-motor racing champion said on Friday.
|
|
And swilling around at the bottom of that economy are around 360 billion euros ($394 billion) of non-performing loans, 200 billion euros worth of which are deemed insolvent, are still on banking balance sheets.
|
|
The ruling was a victory for the Orphan Wells Association, a group mostly funded by the oil-and-gas industry, whose members are growing tired of cleaning up the mounting mess left by insolvent firms.
|
|
MUNICH (Reuters) - Managers of insolvent P&R Group are being investigated after it was discovered the investment firm sold nearly one million more shipping containers than it owned, the Munich prosecutors' office said on Thursday.
|
|
Along with its $70 billion in debt, Puerto Rico is struggling with a 45 percent poverty rate, nearly insolvent pensions and healthcare systems, and a dwindling population as locals flock to the contiguous United States.
|
|
Even once the new system is in place, a bank could still become insolvent or suffer a liquidity squeeze, with potentially disastrous results for those that had backed it and the economy as a whole.
|
|
Davis said he found evidence that the operating unit was insolvent as early as 2008, which would have imposed on the business's directors a duty to act on behalf of creditors as well as shareholders.
|
|
The son of a former governor, Rossello is trying to lead the island out of a crisis marked by $72 billion in debt, a 45 percent poverty rate, insolvent public pensions and a shrinking population.
|
|
BERLIN, Aug 23 (Reuters) - Air Berlin's creditors are meeting on Wednesday for the first time as bidders jostle for position for the insolvent carrier's assets, although major progress is not expected yet, sources told Reuters.
|
|
LONDON (Reuters) - The estate of late Russian oligarch Boris Berezovsky, who helped broker Vladimir Putin's rise to the Kremlin's top job only to become his sworn enemy, is hopelessly insolvent, a British judge has said.
|
|
The two programs make up the bulk of federal spending, and trust funds that support benefit payments are projected to become insolvent within the next 10 to 15 years, according to the Congressional Budget Office.
|
|
The final aspect is the defendant's creditworthiness, since winning a case against an insolvent defendant wouldn't really be a victory in the sense that investors wouldn't be able to get a return on their investment.
|
|
ROME (Reuters) - One of the three offers Italy has received for insolvent airline Alitalia provides "concrete steps forward in terms of routes and personnel," the Industry Ministry said on Wednesday, without naming its preferred option.
|
|
Puerto Rico is struggling with $72 billion in debt and has argued that it needs to restructure at least some of it under Chapter 9, the part of the bankruptcy code for insolvent local governments.
|
|
What we need is for the Federal Reserve to be prepared for a future financial crisis by adopting a rule of law framework that would protect solvent financial institutions and avoid lending to insolvent ones.
|
|
The island says it urgently needs to restructure its $72 billion in debt but cannot because Chapter 9 of the bankruptcy code — the chapter for insolvent local governments — specifically bans Puerto Rico from doing so.
|
|
They've been hemorrhaging support for nearly a decade now, and only just managed to snatch the last election with bogus promises of canceling household debt incurred when the bank crash left thousands of families insolvent.
|
|
PRAGUE, May 23 (Reuters) - Czech miners' unions have teamed with Pavel Tykac, owner of lignite mines, and another investor to offer to buy New World Resources' insolvent mining subsidiary OKD, the unions said on Monday.
|
|
The proceeds were used to enter into separate debt obligations with Etihad and airlines partially owned by the Abu Dhabi carrier at the time, including Alitalia and Air Berlin, both of which are now insolvent.
|
|
They would take money from a separate federal program that pays for current redevelopment projects at abandoned mines, and redirect that funding to the desperately insolvent pension funds of the United Mine Workers of America.
|
|
U.P.S. said in 2016 that it could be responsible for nearly $4 billion in benefits payments if the Central States Pension Fund, the largest multiemployer plan facing insolvency, slashes benefits to retirees or becomes insolvent.
|
|
BERLIN (Reuters) - British Airways parent IAG put in a bid for part of insolvent German airline Air Berlin but expects it will go mainly to Lufthansa, CEO Willie Walsh said at a conference in Barcelona.
|
|
VIENNA, Dec 15 (Reuters) - The sale of insolvent Austrian airline Niki must be agreed within seven days as its valuable runway slots will be lost afterwards, the chief of Niki's works council said on Friday.
|
|
FRANKFURT, Oct 20 (Reuters) - An Air Berlin airliner was grounded at Iceland's Keflavik airport late on Thursday because the insolvent German carrier had not paid its airport charges, Keflavik operator Isavia said in a statement.
|
|
As a result of the collapse of Carillion, the company's employees will now get their pension savings from the Pension Protection Fund (PPF) — a government supported fund that provides compensation to employees of insolvent firms.
|
|
Had the lawyers spoken up, the jury would have announced a verdict "consistent with the 27 interrogatories it answered finding 27 separate times that the (Renco) subsidiaries were not insolvent or inadequately capitalized," Renco said.
|
|
And then there's the final blow in this series of ugly events: Breitburn characterizes the company as "hopelessly insolvent," meaning it expects nothing to be left for the equity holders after its assets are distributed.
|
|
BERLIN, Sept 19 (Reuters) - Insolvent German charter carrier Small Planet Airlines hopes to attract a buyer following a debt restructuring, its administrator told Reuters on Wednesday, saying he saw good a chance of a deal.
|
|
BERLIN, Sept 25 (Reuters) - Thomas Cook GmbH, the German unit of the insolvent British travel operator, on Wednesday filed for insolvency with a view to carving out its brands and businesses from their failed parent.
|
|
Germany will guarantee a 380 million euro bridging loan for Condor, the German airline owned by insolvent British travel operator Thomas Cook, to enable it to continue flying and save jobs, the economy minister said.
|
|
The previous government has been bailing out debt-burdened 1MDB since April 2017, paying a total of 6.98 billion ringgit so far, Lim Guan Eng said, adding that 1MDB directors confirmed the fund was insolvent.
|
|
Under the creditors' view, borrowing the money rendered Tribune insolvent and public shareholders received more than reasonable value for their stock; therefore, some of that money could be potentially clawed back as a fraudulent conveyance.
|
|
Senvion said in a statement the facility meant the group could continue operations and allows for substantial drawings already this week, helping the company to stabilize its affairs and provide funds to non-insolvent subsidiaries.
|
|
According to the Medicare Trustees, the Hospital Insurance Trust Fund will become insolvent in 2029, and substantial future tax increases will be required if the Supplementary Medical Insurance Trust Fund is to meet its obligations.
|
|
Liquidation of insolvent companies will be sped up so business owners can move on and bankruptcy law will give more power to creditors who have a stake in seeing the firm survive, the minister added.
|
|
Its American nuclear subsidiary, Westinghouse Electric, sought bankruptcy protection in March after delays and cost overruns at two nuclear-plant projects in the United States cost Toshiba $6 billion in write-offs, rendering it insolvent.
|
|
"The national promotional focus over the past five years … has decimated [us] and left many franchisees unprofitable and even insolvent," petitioners complained in a letter to Subway late last year, protesting the revival of the deal.
|
|
Puerto Rico officials have been saying that they want to restructure the debt but do not expect to be able to do so without the protection of Chapter 9, the bankruptcy chapter used by insolvent municipalities.
|
|
Puerto Rico officials have been saying that they want to restructure the debt, but do not expect to be able to do so without the protection of Chapter 9, the bankruptcy chapter used by insolvent municipalities.
|
|
Keydata, which was fast-tracked into administration in 2009 after the regulator declared it insolvent and was dissolved in 2014, sold complex structured products based on misleading brochures and without adequate due diligence, the FCA said.
|
|
FRANKFURT, Sept 21 (Reuters) - Lufthansa is set to pick up a large part of insolvent rival Air Berlin, with easyJet also still in the running for assets, two sources familiar with the matter said on Thursday.
|
|
"Much of the talk right now is about forcing banks to cut rates, but lower rates won't solve the problem if firms are insolvent," Leland Miller, the founder of the business surveyor China Beige Book, said.
|
|
Puerto Rico, shouldering $72 billion in debt, has filed the biggest government bankruptcy in U.S. history as it reels from a shrinking population, a 45 percent poverty rate and near-insolvent public health and retirement systems.
|
|
A Bulgarian court has declared the bank insolvent and opened bankruptcy proceedings after an international audit showed major failings in the way the lender was run that prompted a writedown of two-thirds of its assets.
|
|
As the Squam Lake Group, composed of mostly American academics, put it in 2009, the automatic conversion of cocos would "transform an undercapitalised or insolvent bank into a well-capitalised bank at no cost to taxpayers".
|
|
" (There have been false stories from both political stances, according to analysis from BuzzFeed News.) Clinton said that she did not inherit a strong data foundation from the Democratic party, which was "bankrupt" and near "insolvent.
|
|
BERLIN (Reuters) - Insolvent German airline Air Berlin is scrapping more long-haul flights, this time to the Caribbean from Dusseldorf, because it needs to reduce the fleet due to preliminary insolvency proceedings, it said on Monday.
|
|
BERLIN, Oct 12 (Reuters) - Insolvent German airline Air Berlin is continuing talks with easyJet on Thursday, a spokesman for Air Berlin said, without saying whether a contract was expected to be signed with the British airline.
|
|
Since Congress loves to manufacture a regular crisis through the debt ceiling, legislators never have to get serious about entitlement reform or face the hard reality that Social Security will be insolvent in just 2628 years.
|
|
South Korea's banks would reach the PONV when designated as an insolvent financial institution as defined in Article 2 of the Act on the Structural Improvement of the Financial Industry, the key resolution legislation in Korea.
|
|
Opinion Columnist The demographic changes coming over the next few decades — the continuing rise of a more diverse electorate, with more liberal views than previous generations — won't destroy the Republican Party or make it electorally insolvent.
|
|
After a number of hearings, and even expedited arguments before the United States Supreme Court, Congress last year enacted a law called Promesa, which gives insolvent territories a way to seek court protection from their creditors.
|
|
Indicated 3.2 percent higher Air Berlin labour bosses due to meet with Berlin's Mayor Matthias Mueller and the state of North Rhine-Westphalia's premier Armin Laschet to discuss how to safeguard jobs at the insolvent airline.
|
|
"We can't even think about buying a new piece of new equipment because it could tip the scale to where we wouldn't be insolvent," said Jeff Fisher, a soybean and corn grower in Champaign County, Ill.
|
|
The company said in March it was technically insolvent, recording a loss of 215 billion rand while struggling to pay salaries and suppliers, prompting the government to hand it a 22018 billion rand bailout in August.
|
|
Easyjet was among the stocks in positive territory with a 1.2 percent rise after Air Berlin's creditors picked the low-cost airline and German flagship carrier Lufthansa as possible buyers for the insolvent carrier's aviation business.
|
|
Still, Mr. Mapp is contending with many of the same problems that proved too much for Puerto Rico, driving it in May to seek bankruptcylike protection under a new law for insolvent territories, known as Promesa.
|
|
BERLIN, Sept 24 (Reuters) - Germany has decided to guarantee a bridging loan of 380 million euros to Condor, the German airline owned by insolvent British travel operator Thomas Cook, Economy Minister Peter Altmaier said on Tuesday.
|
|
Italian banks hold some 80 billion euros in UTPs, which they price on average at 61% of nominal value - well above a net book value of 35% for banks' remaining 100 billion euros in insolvent loans.
|
|
Deutsche Bank agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of tax fraud for using "insolvent" shell companies to hide significant tax liabilities from the Internal Revenue Service in 2000.
|
|
"This is more than enough to show that Peabody is not 'hopelessly insolvent' - all that is required to show at this stage to obtain appointment of an equity committee," Mangrove said in a motion filed in December.
|
|
Washington, meanwhile, continues to wrestle with the question of how to help Puerto Rico, having long rejected the idea of a federal bailout for the insolvent U.S. territory, which filed for a form of bankruptcy in May.
|
|
Local newspaper Thueringer Allgemeine said the investment may be made in the eastern German city of Erfurt, on the same site as a solar cell plant operated by Solarworld, a company which was deemed insolvent in March.
|
|
And in November its Ukrainian subsidiary was declared insolvent; this followed a Kiev court ruling in September that assets should be seized from the Ukrainian subsidiaries of VTB and other Russian state-owned banks Sberbank and VEB.
|
|
Seasonally adjusted data from the Insolvency Service showed 4333,951 people registered as insolvent between April and June — up 27 percent on a year ago and the largest total since early 2012 when Britain last flirted with recession.
|
|
BERLIN, Aug 21 (Reuters) - Lufthansa has received more German government support in its bid to take over substantial assets of insolvent rival Air Berlin, with German Economy Minister Brigitte Zypries saying she would welcome such a move.
|
|
As currently written, the bankruptcy code bars Puerto Rico's cities or other bodies of government from using Chapter 9, the provision that insolvent cities and counties on the mainland have been able to use to shed debt.
|
|
VIENNA, Sept 13 (Reuters) - Former motor racing driver Niki Lauda will table an offer for parts of insolvent airline Air Berlin together with Thomas Cook's German carrier Condor, Austrian newspaper Kurier quoted Lauda as saying on Wednesday.
|
|
Air Berlin had to cancel flights on Tuesday and Wednesday after pilots called in sick in unusually high numbers, a move seen as a protest about job uncertainty but potentially complicating efforts to rescue the insolvent carrier.
|
|
The Tuscan bank is selling its 27.7 billion euro ($31 billion) portfolio of loans to insolvent borrowers in a complex securitization scheme, part of a broader rescue plan aimed at addressing regulatory concerns over its financial stability.
|
|
OKD, a major employer in the Czech Republic's industrial northeast, was declared insolvent by a court in May after its owners failed to secure government aid to help it through a sharp fall in global coal prices.
|
|
In Germany, Lufthansa was on top of the local blue-chip index with a 2.7 percent rise after it said it would sign a deal later on Thursday to buy parts of insolvent German carrier Air Berlin.
|
|
The crisis in Puerto Rico merges financial, political and human threads, marked by massive debt, high poverty, near-insolvent public healthcare and pension systems, and a rapidly shrinking population as locals flock to the mainland United States.
|
|
German newspapers Stuttgarter Zeitung and Stuttgarter Nachrichten reported the Schlecker family were being charged with having siphoned about 20 million euros ($23 million) away from the drugstore chain and out of creditors' reach before it went insolvent.
|
|
VIENNA (Reuters) - Former motor racing champion Niki Lauda has won the bidding for the Niki airline he founded, convincing the insolvent carrier's administrators in marathon talks and undoing an agreed deal with British Airways owner IAG (ICAG.
|
|
BEIJING (Reuters) - A $22012 billion restructuring deal at an insolvent coal mining company in eastern Shandong province offers a glimpse into how China is preparing to tackle a corporate debt burden that has ballooned to $230 trillion.
|
|
Today, the U.S. territory has nearly $70 billion in debt, an unemployment rate 2.5 times the U.S. average, a 45 percent poverty rate, nearly insolvent pension systems and a chronically underfunded Medicaid insurance program for the poor.
|
|
Traders have been particularly worried about the largest Bitcoin exchange in the world, Bitfinex, an unregulated operation that has provided few details about its operations, raising concerns about whether it is insolvent or involved in price manipulation.
|
|
The law allows EPA to go after polluters to clean up their waste, and in cases where the responsible party is can't be found or is insolvent, it authorizes a "superfund" to pay for hazardous waste control.
|
|
The Trump administration's decision marks the conclusion of a trade case brought last spring by bankrupt solar manufacturer Suniva, and later joined by SolarWorld, a cell maker whose German parent company announced it was insolvent last year.
|
|
Republicans also said it would be impossible to balance the budget without reforming Social Security and Medicare, the most expensive parts of the budget fueled by trust funds projected to become insolvent in less than 20 years.
|
|
The sum of probable claims by creditors of insolvent firms nearly doubled to 16.5 billion euros ($18.5 billion), however, because there were several big companies among the overall fewer firms that filed for insolvency, the office said.
|
|
And Trump is so desperate to have something to show for his first 100 days that he just threw in funding for the border wall — which may kill the bill and make the United States financially insolvent.
|
|
The diversions, or "clawbacks," were imposed by the U.S. territory's government last year to keep Puerto Rico afloat as it battled $70 billion in debt, a 45 percent poverty rate and near-insolvent healthcare and pension systems.
|
|
WARSAW (Reuters) - Thomas Cook's Polish business Neckermann Polska said on Wednesday it was insolvent as the effects of the demise of the world's oldest travel firm spread to central Europe, leaving around 3,600 Polish tourists stuck abroad.
|
|
Puerto Rico, which earlier this year filed the biggest bankruptcy in U.S. municipal history, is struggling to regain economic stability in the face of a $72 billion debt load and near-insolvent public health and pension systems.
|
|
DETROIT (Reuters) - General Motors Co told a U.S. bankruptcy court on Wednesday that it reached a deal with an insolvent Massachusetts parts supplier whose struggles had threatened to shut down some or all of GM's North American plants.
|
|
Mt Gox was the most popular exchange of early Bitcoin users, until it was revealed to be catastrophically insolvent as a result of a long-running theft, which made off with as much as $400 million in bitcoin.
|
|
NEW YORK (Reuters) - Puerto Rico's Government Development Bank, the island's insolvent former fiscal agent now in wind-down mode, has tweaked its $5 billion debt restructuring deal to help keep small towns afloat six months after Hurricane Maria.
|
|
Five major trust funds, including those funding highways, Social Security and Medicare, will be insolvent within 14 years, according to a fact sheet by Alliance for Market Solutions, a conservative group founded in 2017 pushing a carbon tax.
|
|
RIGA (Reuters) - A corporate lawyer who worked on managing the winding-down of insolvent companies was shot dead in the Latvian capital early on Wednesday in what police said appeared to be a killing linked to organized crime.
|
|
At the heart of the governance conundrum are the interlocking shareholdings among group companies held by their founding families, which mean that if one affiliate goes insolvent, another affiliate will often be forced to come to the rescue.
|
|
Lufthansa's focus is on securing the 38 crewed planes it currently leases from the insolvent carrier, plus it would like up to an additional 20 to 40 planes, Carsten Spohr said at a media event late on Wednesday.
|
|
Glencore and seven partners began negotiations to build WICET in 2008 near the height of a coal boom, but as prices plunged, three of the partners became insolvent, leaving Glencore to foot an increasing share of the liability.
|
|
After disposing of 800 million euros in insolvent loans over the past two years, Popolare di Bari still holds problematic debt equivalent to 22 percent of its total lending - well above a national average of about 13 percent.
|
|
A spokesman also denied an unsourced report in Frankfurter Allgemeine Zeitung that said the airline had considered going insolvent to rid itself of the costly labor agreement with its pilots, which lies at the heart of the conflict.
|
|
A state insurance guaranty association that helps cover insolvent insurers' claims is not required to reimburse Medicare for the medical expenses of people who are also covered by the defunct insurers' policies, a federal appeals court said Thursday.
|
|
After disposing of 800 million euros in insolvent loans over the past two years, Popolare di Bari still holds problematic debt equivalent to 13 percent of its total lending - well above a national average of about 14 percent.
|
|
Niki filed for insolvency in Berlin last month after Germany's Lufthansa scrapped plans to buy the Austrian arm of insolvent Air Berlin, but a German regional court said earlier this week that Niki was not under German jurisdiction.
|
|
Insolvent German airline Air Berlin aims to strike deals to sell assets to two or more buyers by the end of September, before a government loan keeping its planes in the air runs out, its chief executive said.
|
|
Puerto Rico's public health system is nearly insolvent, a key driver of emigration that has decimated the U.S. territory's population as it wrestles with $70 billion in debt, a 45 percent poverty rate and unemployment twice the U.S. average.
|
|
A Montana diocese made itself insolvent by transferring more than $16 million of assets to a nonprofit before declaring bankruptcy to prevent victims of clergy sex abuse from laying claim to the funds, according to its official creditors' committee.
|
|
The banks also plan to sell loans totalling 8 billion euros where creditors are deemed insolvent over a period of three years to lower the share of gross problem loans to 18 percent of total lending, from 25 percent.
|
|
ROME (Reuters) - The anti-establishment 5-Star Movement and the far-right League plan to halt the sale of Italy's insolvent national airline Alitalia, which has already received three offers, the League's economics chief Claudio Borghi said on Thursday.
|
|
On The Beach has flagged opportunities to gain additional market share after Thomas Cook's UK business and airline went insolvent, but that has also hurt capacity in the short term, driving up prices of holidays as ticket prices rise.
|
|
Rossello said on Wednesday that Puerto Rico would get $4.9 billion to shore up its near-insolvent Medicaid system and another $2 billion or so under the Community Development Block Grant (CDBG) program to repair its destroyed electric grid.
|
|
Senvion, which is in self-administration after becoming insolvent in April, said the deal would secure the jobs of more than 2,000 of its staff, close to 60% of the total, adding it was working on finding additional solutions.
|
|
MILAN, July 12 (Reuters) - Italian banks must improve the quality of bad loan data and use them to understand when to raise provisions on debts which are yet to be declared insolvent, the central bank governor said on Wednesday.
|
|
A recent study by Renmin University found 51.4 percent of listed steel firms and 44.5 percent of real estate firms could be defined as "zombie enterprises" because they were technically insolvent - unable to generate enough money to repay debt.
|
|
FRANKFURT, Oct 11 (Reuters) - Lufthansa is poised to agree a deal to buy assets of Air Berlin, a person familiar with the matter told Reuters ahead of a Thursday deadline for talks to carve up the insolvent German airline.
|
|
PRAGUE, June 8 (Reuters) - Czech coal miner OKD, the insolvent unit of New World Resources (NWR) , urgently needs a state loan of up to 1 billion crowns ($42.1 million) to keep operating, Industry Minister Jan Mladek said on Wednesday.
|
|
A confidential regulatory review of the development bank last November found that it was insolvent and would have a $1.3 billion deficit by the end of June, which raised the prospect of dedicated funds being diverted to other purposes.
|
|
BERLIN, Sept 11 (Reuters) - Insolvent German airline Air Berlin is scrapping more long-haul flights, this time to the Caribbean from Duesseldorf, to reduce its long-haul fleet and cut costs while it seeks investors, it said on Monday.
|
|
Italy introduced the GACS state guarantee last year in an effort to help its lenders fetch a better price for their bad debts as regulatory pressure mounted to shed 200 billion euros ($221 billion) in loans to insolvent borrowers.
|
|
Even if the island continues emergency measures like suspending vendor payments and withholding contributions to a pension fund that is already insolvent, the operating account will still run out of cash in 30 to 60 days, the GDB said.
|
|
FRANKFURT, Aug 17 (Reuters) - Insolvent German airline Air Berlin is in talks with a total of three aviation firms, including Lufthansa, to find buyers for its assets, Chief Executive Thomas Winkelmann told Frankfurter Allgemeine Zeitung (FAZ), without naming names.
|
|
PRAGUE, July 27 (Reuters) - The Czech government approved a 700 million crown ($29 million) loan to help keep afloat hard coal miner OKD, an insolvent unit of New World Resources , the prime minister and industry minister said on Wednesday.
|
|
VIENNA, Sept 14 (Reuters) - Former motor racing driver Niki Lauda plans to offer around 100 million euros ($118.69 million) for parts of insolvent airline Air Berlin together with Thomas Cook's German carrier Condor, he told ORF radio on Thursday.
|
|
The increased debt may help the government achieve its target of 6.5 percent to 7 percent economic growth this year, but at the price of burdening banks with even more loans to struggling businesses, or even effectively insolvent ones.
|
|
Take Doug, a retired mechanic living in New York, who worked hard to give his family a good life and to earn the secure retirement he was promised through the Road Carriers 20173 Pension Fund, which is now insolvent.
|
|
But superintendent Austin Beutner says much of those funds have already been ear-marked, and based on future projections, the district's finances will be insolvent in a matter of years, thanks to burgeoning pension and retiree health benefit outlays.
|
|
Bear's officers had realized that a series of client cash withdrawals had rendered their company insolvent, and Mr. Zames summed up the situation with some characteristically blue language, saying the "whole thing" was headed in a very bad direction.
|
|
CNN's Andrew Kaczynski, Em Steck and Nathan McDemott unearthed a bunch of old radio interviews of Michael Bloomberg, then a Republican mayor, talking about how Social Security was ultimately going to be insolvent and was essentially a Ponzi scheme.
|
|
"Whatever [Evergrande's] motivations might be, the reality is that it has engineered a situation where, unless [Faraday Future] obtains an injection of substantial sums in the immediate future, it will become insolvent," lawyers for Faraday Future write in the petition.
|
|
The resulting $7.8 billion deficit is "proof that the recently passed unbalanced stopgap measure is making our insolvent state's fiscal problems much worse," said state Representative David McSweeney, a Republican representing part of Chicago's northwestern suburbs who requested the commission study.
|
|
To break the doom-loop between governments and banks that buy large amounts of a single sovereign's debt and then collapse as the sovereign becomes insolvent, there were to be limits on the concentration one country's bonds in a bank's portfolio.
|
|
The China Academy of Social Sciences (CASS), a government think tank, said in a report this month that the country's pension funds could become insolvent by 2035, with a rapidly dwindling workforce unable to support the growing number of elderly people.
|
|
Because of the large withdrawals, the pension system's ability to pay its members' future benefits before becoming insolvent has been reduced from 15 years to 10 years, Dallas Mayor Mike Rawlings said in a letter to the board last month.
|
|
The German flagship carrier's proposal for the carve-up of Air Berlin would see it taking over the insolvent carrier's leisure airline unit Niki and other planes for a sum in the low hundreds of millions of euros, another source said.
|
|
If side accounts are used as investment vehicles, insurers could potentially be exposed to unlimited liability and become insolvent, according to an affidavit filed with the court by a partner with management consultants Oliver Wyman, hired by Manulife to provide evidence.
|
|
Indicated 1.6 percent higher Deutsche Bank agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of tax fraud for using "insolvent" shell companies to hide significant tax liabilities from the Internal Revenue Service in 2000.
|
|
Banks may be better off today than they were leading up to the Great Recession but the government and Fed's balance sheets have become insolvent in the wake of their inane effort to borrow and print the economy back to health.
|
|
BERLIN, Oct 25 (Reuters) - Lufthansa expects to see a positive impact on its results in 2019 from a deal to take over large parts of insolvent rival Air Berlin, after work next year to integrate the operations, managers said on Wednesday.
|
|
BERLIN, Oct 27 (Reuters) - Lufthansa's budget unit Eurowings said on Friday it has reached a deal with pilots' union Vereinigung Cockpit that will allow it to hire experienced new crew in Germany at short notice, such as from insolvent Air Berlin.
|
|
FRANKFURT, Sept 21 (Reuters) - Lufthansa's bid for Air Berlin assets is focused on securing the 38 crewed planes it currently leases from the insolvent carrier and it is interested in a further 20 to 40 planes, Lufthansa's chief executive said.
|
|
Another called it, accurately, a Ponzi scheme: instead of paying investors out of revenues from business projects, it was paying long-standing investors with the money deposited by new ones, meaning liabilities exceeded assets and the firm was permanently insolvent.
|
|
LONDON (Reuters) - The number of insolvent companies in England and Wales hit its highest in more than five years in the second quarter of 225.8, according to data on Tuesday that showed businesses under rising financial pressure as Brexit nears.
|
|
It's crushing public debt, its insolvent public pension plans, the collapsed energy grid, the massive migration, the continuing implosion of its real estate market, the precariousness of the public health system, and last year's devastation caused by Hurricanes Irma and María.
|
|
The number of insolvent companies in England and Wales hit its highest in more than five years in the second quarter of 2019, according to data by the Insolvency Service, that showed businesses under rising financial pressure as Brexit nears.
|
|
Puerto Rico Governor Ricardo Rossello campaigned for statehood as the best avenue to boost future growth for the island, which has $70 billion in debt, a 45 percent poverty rate, woefully underperforming schools and near-insolvent pension and health systems.
|
|
The third-largest city in the United States also faces pension contributions that will grow to $2.13 billion in 2023 from $1.02 billion this year even after raising fees and taxes to save the city's four pension funds from becoming insolvent.
|
|
The fitness tracker maker Fitbit Inc on Friday urged a judge not to further delay its patent infringement lawsuit against insolvent rival Jawbone, accusing the entity holding the latter's assets of trying to run out the clock on the case.
|
|
The judges said in their ruling that they did not dispute arguments that a fiscal crisis would make the funds insolvent and that would impact public welfare, but said Illinois constitution prohibits any impairment or diminishment of public-pension benefits.
|
|
But the Ministry of Finance has nonetheless been reluctant to allow a large, persistent deficit to form, particularly as China may yet face very heavy costs to help banks with the costs of large loans to nearly insolvent state-owned enterprises.
|
|
According to the Bank of Italy, about €210 billion of those loans are held by insolvent borrowers, and an additional €150 billion are loans that are considered unlikely to be repaid, past due or in breach of an overdraft ceiling.
|
|
Congress enacted the law last year because Puerto Rico needed a methodical way to adjust its $123 billion in bond debt and unfunded pension obligations, but is legally barred from the usual route taken by insolvent local governments, Chapter 9 bankruptcy.
|
|
Unlike Thomas Cook, Condor received a lifeline from Germany in the form of a 380 million euro ($421.57 million) bridging loan and filed for investor protection proceedings, which requires that a company is not yet insolvent and can be saved.
|
|
Under the terms of the securities, the issuer will be subject to restrictions on interest payments if it has insufficient distributable items, is insolvent or fails to meet the combined buffer capital requirements that are being gradually introduced from January 2016.
|
|
It seeks to help those most in need, targeting accounts of individuals that are "two times or below the federal poverty level, insolvent and/or with debts that are five percent or more of gross annual income," according to the organization.
|
|
The ruling by the Court of Justice of the European Union (CJEU) resulted from a case brought by a young girl seeking compensation from now insolvent Austrian airline Niki Luftfahrt when coffee served to her father tipped over during a flight.
|
|
BERLIN (Reuters) - Germany will guarantee a 380 million euro ($13 million)bridging loan for Condor, the German airline owned by insolvent British travel operator Thomas Cook, to enable it to continue flying and save jobs, the economy minister said on Tuesday.
|
|
BERLIN, Sept 24 (Reuters) - The German government will decide within the next coming days on whether to offer financial support to Condor, the German airline owned by insolvent British travel operator Thomas Cook, German Economy Minister Peter Altmaier said on Tuesday.
|
|
The carrier is set to secure EU antitrust approval for its acquisition of insolvent Air Berlin's subsidiary LGW after agreeing to give up some Dusseldorf airport slots and not seek new ones, two people familiar with the matter said on Tuesday.
|
|
Set up to improve funding for the province's small and medium-sized businesses, Hebei Financing became technically insolvent early last year, and is unable to help pay out at least 32 billion yuan ($4.8 billion) of total loans extended with its backing.
|
|
The step comes in response a court decision last month that proceeds from the sale of assets belonging to insolvent junior producer Redwater Energy Corp will go first to secured creditors, rather than toward cleaning up the company's inactive oil and gas wells.
|
|
The SFC alleged in December 2014 that Left made HK$1.7 million ($219,216.24) after knocking nearly 20 percent off the share price of Evergrande with the publication of the report, in which he claimed the group was insolvent and had defrauded investors.
|
|
Thomas Cook hopes that the European Commission's decision on Lufthansa's acquisition of part of insolvent Air Berlin will reflect an interest in fair competition, daily Frankfurter Allgemeine Zeitung cited Christoph Debus, chief airline officer at Thomas Cook, as saying in an interview.
|
|
Two investment firms holding nearly 10 percent of shares in Adeptus Health Inc on Monday called for the appointment of a committee to represent shareholders of the bankrupt emergency room operator, arguing it is not insolvent and needs to cancel all equity interests.
|
|
Beaufort was declared insolvent in March after the U.S. Department of Justice named it as one of 10 defendants charged over its alleged role in a more than $50 million stock fraud and a laundering scheme involving a work by Pablo Picasso.
|
|
"The audit report issued by PricewaterhouseCoopers Audit LLC failed to highlight the credit risk exposure faced by PrivatBank, which led to the bank being declared insolvent and nationalised, with substantial recapitalisation costs borne by the state," the central bank said in a statement.
|
|
With $70 billion in debt, a 45 percent poverty rate and near-insolvent public health and pension systems, a torrent of litigation could force Puerto Rico into a so-called Title III proceeding - an in-court debt-cutting process similar to U.S. bankruptcy.
|
|
Much of the mayor's budget address to the 50-member city council focused on his administration's accomplishments over the last seven years, including raising fees and taxes to save the city's four pension funds from becoming insolvent and shrinking a chronic budget deficit.
|
|
Will many companies leave the nearly insolvent Chicago or the state of Illinois — by most measures the most indebted state in the union — if its top personal tax rate triples in an attempt to tax its way out of the budget morass?
|
|
So far the regulator has been praised for its clean-up of banks, required under a $17.5 billion IMF-led bailout program, which since early 2014 has closed 70 insolvent lenders that had become little more than personal piggy banks for their owners.
|
|
The PRA's announcement on Wednesday included lighter annual reporting requirements for smaller firms on their solvency, but no change to the so-called risk margin, a surcharge to cover what a third party would need to take over an insolvent insurer's policies.
|
|
LONDON, Jan 22010 (Reuters) - The number of people declared insolvent in England and Wales rose last year for the first time since 20.1, after hitting a post-financial crisis low in 2015, official figures showed on Friday, raising concern about households' financial health.
|
|
Ryanair has agreed to buy an initial 24.9 percent stake in Laudamotion, formed out of the insolvent Niki carrier that was part of Air Berlin, and plans for that to rise to 75 percent "as soon as possible", subject to EU approval.
|
|
BERLIN (Reuters) - The German government will probably lose a 150 million-euro government-backed loan to insolvent Air Berlin because the European Union opposed Lufthansa's purchase of Air Berlin's Austrian unit, Niki, a senior member of Chancellor Angela Merkel's conservatives said on Sunday.
|
|
BERLIN, Dec 14 (Reuters) - Irish low cost carrier Ryanair said will look into how much use it can make of insolvent carrier's Niki's take-off and landing slots, although there may not be enough for it to start up operations in Berlin Tegel.
|
|
" The study further concluded that had unauthorized immigrants "not contributed to nor drawn HITF funds from 2000 to 2011, the HITF would become insolvent in 2029–1 year earlier than is currently predicted by Medicare's Trustees based on their intermediate cost assumptions.
|
|
With $70 billion in debt, a 45-percent poverty rate and near-insolvent public health and pension systems, a torrent of litigation could force Puerto Rico into a so-called Title III proceeding - an in-court debt-cutting process similar to U.S. bankruptcy.
|
|
NEW YORK (Reuters) - Puerto Rico's governor on Monday fiercely defended his administration's right to help steer the insolvent, storm-ravaged island out of bankruptcy after a U.S. congressman said the process should be led by the island's creditors and federally appointed oversight board.
|
|
However, shale oil is expensive to extract, so lower prices averaging between $20 to $25 per barrel for the US benchmark will mean several important US producers will find their business models unsustainable soon enough and completely insolvent over the long term.
|
|
Emadi said the rial's slide, to as low as 190,000 in late September, had given the government huge windfall profits on its dollar holdings; authorities appear to have injected some of those profits into insolvent banks to shore them up, he said.
|
|
The bondholders say the 2017 budget "makes huge transfers" to entities "that apparently enjoy political favor but are indisputably junior to" the bondholders, like the island's woefully underfunded pension system, and its insolvent Government Development Bank, which is its primary fiscal agent.
|
|
BERLIN, Oct 9 (Reuters) - Talks with potential strategic and private equity investors to rescue Thomas Cook's German tour business going well and many investors have expressed interest in the company as a whole or in its branches, the insolvent company's liquidator said.
|
|
Arizona's lawsuit is based on the Uniform Fraudulent Transfer Act, which has been adopted in most states and forbids companies from making some kinds of transfers of assets when they are insolvent or likely to run out of money to pay creditors.
|
|
"The question is whether the PPP debt generates any income, or is it similar to 1MDB, which basically is insolvent," she said, adding that if the PPP debt is self-sustaining, it will not take a lot out of the expenditure budget.
|
|
"Shipowners are left facing double jeopardy and competing demands for payment for the same supplies of bunkers from both insolvent OW Bunker and from physical suppliers," said Scott Pilkington and Paul Dean, attorneys with Holman Fenwick Willan in Singapore and London, in an e-mail.
|
|
MILAN, July 12 (Reuters) - Italian banks in May held 200 billion euros ($222 billion) in loans to borrowers deemed insolvent, slightly up from the previous month, data showed on Monday, as lenders continue to suffer from the fallout of a deep three-year recession.
|
|
Budget airline easyJet brought up the rear with a 4.4 percent fall, hit by a downgrade to "underperform" from Exane BHP Paribas, as well as by news that Germany's Lufthansa had submitted a letter of interest for taking over parts of insolvent Air Berlin.
|
|
Several sources said up to two thirds of a further 112 billion euros in 'unlikely to pay' UTP loans valued by banks at around 66 percent of their face value would have to be classed as insolvent and heavily written down to facilitate disposals.
|
|
Lufthansa Chief Executive Carsten Spohr, who wants to expand budget arm Eurowings by buying parts of insolvent Air Berlin, broached the idea on Monday that Lufthansa could give up a large portion of Air Berlin subsidiary Niki's slots to secure EU approval for the deal.
|
|
Prosecutors are trying to determine whether McKinsey, which advises many of the world's largest and most powerful institutions, used its influence over insolvent companies "by quietly steering valuable assets to itself or favoring its own clients over other creditors," Ms. Walsh and Ms. Flitter write.
|
|
Majorities on both sides of the aisle prefer to ignore the inconvenient truth that the federal government spends too much and, to date, has no real plan for reining things in before major programs become insolvent and the economy faces strain or even crisis.
|
|
Beaufort, which specialized in helping raise money forsmall speculative mining companies, was declared insolvent in March after the U.S. Department of Justice alleged it had a role in a more than $50 million stock fraud and a laundering scheme involving a work by Pablo Picasso.
|
|
"The most respected financial country in the world has a No. 1 bank that people are saying is insolvent," said Lee Robinson, a well-known hedge fund executive who recently set up his own firm, Altana Wealth, which has offices in Monaco and London.
|
|
Thus, such losses had the potential to render the central bank insolvent on a balance sheet basis, as well as making it it so that the Fed would be sending no money to the Treasury to reduce the budget deficit, perhaps for several years.
|
|
"The taxpayers--who will be forced to pay off these enormous debts if pension systems go insolvent--have a right to know the true condition of these pension plans, and the systems' participants need to know how secure their benefits are." http://bit.ly/1RwlvzS.
|
|
Still, it shows that investors are pretty confident that the bank will not be declared insolvent, that senior creditors will be protected even if instruments further down the capital hierarchy get hosed, and that Deutsche has raised its capital significantly since the last financial crisis.
|
|
The insolvent German airline is in talks with Thomas Cook airline Condor, as well as Britain's easyJet over the sale of some of its remaining assets, as time runs out for a deal to be done, a source familiar with the matter said on Tuesday.
|
|
Puerto Rico's case will be the first ever heard under a federal law for insolvent territories, called Promesa, which was enacted last summer; the Obama administration had warned that a "humanitarian crisis" would ensue if Puerto Rico were not given extraordinary powers to abrogate debt.
|
|
LONDON, Jan 29 (Reuters) - Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU official said on Wednesday.
|
|
BERLIN, Oct 17 (Reuters) - A German aviation watchdog is scrutinising a fly-past by Air Berlin's last long-haul flight to its hub in Duesseldorf, which German media said was the pilot's unique way of saying "goodbye" to his passengers and the insolvent airline.
|
|
The U.S.-based bank, which over the past decade has driven down the cost of nullifying the risk of one of the parties to a trade becoming insolvent before payment, now settles more than 90 percent of transactions in the $5 trillion a day market.
|
|