Wednesday 2 September 2015
 
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Bankruptcy

Dubai realtor S&K blames weak market for bankruptcy

Dubai-based real estate agency S&K Estate Agents said a deteriorating property market in the UAE emirate contributed to its decision to file for bankruptcy and be liquidated. "Simply put, the revenue being generated by th

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US airlines receive benefits worth $71bn: study

US airlines have received benefits valued at $71.48 billion, more than $70 billion of which has been since 2000, enabling the nation's three largest carriers to transition from the verge of bankruptcy to today’s industry leaders, each

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Bahraini bank group seeks bankruptcy protection

A group of investment vehicles owned by a Bahraini bank are seeking US bankruptcy protection to shield more than $200 million from Saudi Arabia's Ahmad Hamad Algosaibi and Brothers, agency reports say. Awal Finance Company, a

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Delta CEO blames Gulf for bankruptcy protection

Delta Airlines CEO Richard Anderson has said that the Gulf region was the source of the September 11, 2001 attacks that hurt the airline industry in the US. In an interview with CNN’s Richard Quest, Anderson said it was iron

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US clothes retailer files for bankruptcy

Wet Seal became the fourth US apparel retailer to file for bankruptcy in two months as the sector struggles with growing competition and lower spending by teen shoppers. The company said its shift away from fast-fashion clothing,

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Kuwait's Al Madina files for protection

Kuwaiti firm Al Madina for Finance and Investment Co said on Wednesday it was uncertain of its ability to continue as a going concern, after posting a 26 percent drop in assets and widening its losses for the last financial year.

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The brief reign of bitcoin's top exchange

The collapse of Mt. Gox (short for "Magic: The Gathering Online Exchange") might appear sudden, but bitcoin insiders say its downfall began nearly a year ago as the virtual currency exchange tangled with regulators, split from former b

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Bitcoin exchange seeks bankruptcy protection

The Mt Gox bitcoin exchange in Tokyo has filed for bankruptcy protection and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for. The exchange's CEO Mark Karpeles appeared befo

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Detroit files for bankruptcy, set for court fight

Detroit filed the largest municipal bankruptcy in US history on Thursday, setting the stage for a costly court battle with creditors and opening a new chapter in the long struggle to revive the city that was the cradle of the American auto indus

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US court approves Arcapita's sharia bankruptcy plan

Bahrain investment firm Arcapita Bank has received approval from a US Bankruptcy Court for its plan to repay creditors, thought to be the first in the US that is compliant with sharia, Islamic law.

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