Gulf Times - bankruptcy
India government asked banks to save Jet Airways, avoid bankruptcy: sources

India government asked banks to save Jet Airways, avoid bankruptcy: sources

India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses ...

Germania airline goes bust and cancels all flights

Germania airline goes bust and cancels all flights

German holiday airline Germania collapsed on Tuesday after it failed to secure financing to meet a short-term cash squeeze and said it would cancel all flights immediately.

Once mighty US retailer Sears files for bankruptcy

Once mighty US retailer Sears files for bankruptcy

Sears, the venerable chain that once dominated the American retail sector but had been in decline since the advent of the Amazon era, filed for bankruptcy Monday and announced it was closing almost 150 stores.

Proposed insurance fund will protect workers' dues: Minister

Proposed insurance fund will protect workers' dues: Minister

HE Dr al-Nuaimi explained that the fund is complementary to the bundle of legislations issued by Qatar to protect the rights of workers.

Cambridge Analytica files for voluntary bankruptcy in US

Cambridge Analytica files for voluntary bankruptcy in US

The company claimed its business had been ruined by "numerous unfounded accusations" which rendered operating the business "no longer viable."

Toys 'R' Us to liquidate all US stores

Toys 'R' Us to liquidate all US stores

"This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years," CEO Dave Brandon said in a statement.

African jobs at risk over French wood giant bankruptcy

African jobs at risk over French wood giant bankruptcy

French forestry and wood products group Rougier filed for bankruptcy on Tuesday, causing uncertainty for its nearly 3,000 employees in central Africa, a court source told AFP.

British Airways' operator IAG to buy Air Berlin subsidiary Niki

British Airways' operator IAG to buy Air Berlin subsidiary Niki

British Airways owner IAG has emerged as the preferred bidder to take over bankrupt Austrian airline Niki, German news agency DPA reported Thursday.

Air Berlin to ground all flights by end of October

Air Berlin to ground all flights by end of October

Bankrupt German airline Air Berlin must ground all flights by the end of October, the firm said on Monday, as talks continue with prospective buyers Lufthansa and Easyjet.

British union to sue on behalf of 1,800 Monarch staff

British union to sue on behalf of 1,800 Monarch staff

Monarch declared bankruptcy on Monday morning after struggling to recover from the effects of terrorism and a weak pound.

India's Vijay Mallya sacked from United Breweries board

India's Vijay Mallya sacked from United Breweries board

India's United Breweries has fired indebted beer baron Vijay Mallya from his non-executive chairman role following an order from the country's market regulator, it said in a stock exchange filing late Wednesday.

India lenders told to recover loans from tycoon Mallya

India lenders told to recover loans from tycoon Mallya

An Indian court ordered a consortium of banks Thursday to start the process of recovering loans from the tycoon Vijay Mallya who has refused demands to return home from exile in Britain.