News Tag: bankruptcy
January 11, 2010
Troubled Japan Airlines (JAL) is expected to enter bankruptcy proceedings within the next couple of days, according to reports.
It is believed the state-owned Development Bank of Japan has already agreed to the bankruptcy.
The airline, which is Asia’s largest carrier, is grappling with a mountain of debt and it is currently under the watchful eye of the state-backed turnaround body (the Enterprise Turnaround ...
Bankruptcy looming for Japan Airlines
by Kay Murchie
January 3, 2010
Struggling Japan Airlines (JAL) has had its credit line doubled to 200 billion yen (£1.3 billion) after an agreement by the Japanese Government today, according to Kyodo news agency.
The extra funding was agreed by Deputy Prime Minister Naoto Kan, Transport Minister Seiji Maehara and other ministers at a meeting this weekend.
A statement said: "The government has decided ...
Japanese Government to double credit line for JAL
by Kay Murchie
December 30, 2009
Shares in troubled Japan Airlines (JAL) plummeted to a fresh low today, losing 24% to 67 yen.
The stock plummeted for a second consecutive day amid reports that the carrier is heading towards bankruptcy under a state restructuring plan.
The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to a slump in demand.
Many ...
Japan Airlines shares hit fresh record low
by Kay Murchie
December 29, 2009
Shares in troubled Japan Airlines (JAL) plummeted by 11% today to a record low of 85 yen amid reports that the carrier could be forced to file for bankruptcy.
The stock has lost almost 60% of its value this year.
The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to ...
Japan Airlines shares hit record low amid bankruptcy rumours
by Kay Murchie
October 20, 2009
Property Portfolio Rescue (PPR) has published its latest UK distress index, showing a surge in the number of distressed home sellers in major cities in the Midlands and the North.
In the three months to the end of September, the index rose by 60% in these regions, compared with the same period of 2008.
According to the residential landlord, enquiries from ...
Distressed sales surge in Midlands and the North
by Gill Montia
September 1, 2009
The International Air Transport Association (Iata) said major airlines continue to suffer amid higher fuel prices.
According to the industry group, in the first six months of the year, airlines are likely to have lost £3.7 billion.
Furthermore, the body said airlines made losses between April and June - the spring season when they would traditionally make 50% of their yearly profits.
Many airlines ...
Airline industry suffers amid severe losses
by Kay Murchie
July 29, 2009
Consumers looking to alleviate the financial blues should seek advice from a certified and impartial source, a debt solutions group warned this week.
Derek Oakley, head insolvency practitioner at Debt Free Direct, said financial advice is best sought from advisers who have "achieved the Debt Standard".
There can be "dramatic variations in the quality" of help given by debt management companies, Oakley ...
“Impartial” advice best solution for economic blues
by David Masters
July 2, 2009
“The Big Three” US carmakers reported a slump in sales in June compared to the same month last year.
General Motors (GM) said sales fell 33.6%, while Chrysler sales declined by 42%.
However, Ford, which is the only one of the three not to have gone bankrupt, said sales were down 10.9% compared with a year earlier - a much smaller ...
US car makers see fall in sales
by Kay Murchie
May 31, 2009
Many reports over the weekend have speculated that General Motors (GM) is expected to file for Chapter 11 bankruptcy tomorrow.
The century-old car maker, which was once the biggest company in the world, reaches its deadline tomorrow of restructuring the business in order to achieve a multi-billion dollar loan from the Government to avoid bankruptcy protection.
So far, the company ...
General Motors expected to file for Chapter 11
by Kay Murchie
May 3, 2009
Individual insolvencies are at a record high with an average of 330 people going bust everyday, with the latest insolvency data for the first three months of 2009 showing a 19 percent year-on-year rise inclusive of Individual Voluntary Arrangements (IVAs) and bankruptcies.
KPMG has stated that 51 per cent of people entering into IVAs are homeowners, which is a 34 percent increase from ...
Insolvencies at a record high
by Peter Charalambous
April 8, 2009
According to a report in the Daily Mail, the world’s largest carmaker General Motors (GM) is preparing for bankruptcy.
While the company is hoping to win concessions from its creditors, the threat of going bust puts 5,000 jobs at risk at Vauxhall in Ellesmere Port, Cheshire and Luton as well as 60,000 supply jobs.
GM wants its creditors to ...
UK jobs under threat as GM prepares for bankruptcy
by Kay Murchie
February 6, 2009
Figures from the Insolvency Service have published some alarming news after it reported that company failures and personal bankruptcy has reached a record high for England and Wales.
In the last three months of 2008, there were 2,428 corporate insolvencies such as administrations and receiverships, according to the Insolvency Service. This represented an increase of 220% compared with the same ...
Downturn hits home as bankruptcies hit new high
by Kay Murchie
September 15, 2008
Wall Street shares plunged today in response to the collapse of investment banking giant, Lehman Brothers.
Black Monday sent shockwaves throughout global markets after the UK's FTSE 100 index fell 3.92%, France's Cac 40 index lost 3.78% while Germany's Dax slumped 2.74%.
HBOS, the UK's largest mortgage lender, saw its shares plummet by 17.5% to 232.75p at the ...
Wall Street shares fall in response to Lehman collapse
by Kay Murchie
