Bankruptcy

A New York City court approved a plan by Latin America's largest airline, LATAM Airlines, to exit bankruptcy under US law, the carrier announced on June 18.     

Cage said that he refused to get to the point where he would have to file for bankruptcy, even if people in his life were telling him he should

The state's second attempt to sell off the bankrupt Putnik Prijepolje tour company and its assets, including the Bosko Buha memorial complex in the south-western Serbian municipality of Prijepolje, was halted on Tuesday, with no reason given.

Restructuring of the Turkish real sector's debts to the domestic lenders has accelerated in the past two months, according to figures from the Banks Association of Turkey (TBB).

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Debts worth 24.9 billion Turkish Liras ($2.9 billion) were restructured in May and June as part of a program launched in 2018.

The National Revenue Agency (NRA) collected over BGN 4 million in outstanding payments in just 7 days.

Dozens of debtors have committed to pay more than BGN 9 million for taxes and social security contributions in the next 2 weeks, the NRA announced.

The government and its creditors have clinched an agreement that will remove restrictions on foreclosure auctions for all properties on June 1, including primary residences, sources told the Athens-Macedonian News Agency on Sunday.

The tourism industry must benefit from emergency compensation and any closure of the activity in HoReCA makes it even harder to restart and throws even more employees into unemployment and operators in bankruptcy, the president of the Romanian Hotels and Restaurants' Employers Association (HORA) Daniel Mischie told a press conference on Wednesday.

This year, the government intends to employ à la carte measures - adjusted to the economic profile of each debtor - to resolve the major problem of private debt management.

The pandemic aid for business envisioned by the government will last far enough to keep intact a minimum number of jobs, according to financier Emil Harsev. He told bTV that the Bulgarian economy was doing relatively well although the forecasts were quite gloomy.

Harsev gave an example of the extractive and processing industries in Bulgaria, which are less affected than expected.

Wednesday's news of former businessman Babis Vovos' arrest over unpaid debts seemed ironic as it coincided with the activation of the law concerning the double rehabilitation project for the areas of Votanikos and Ambelokipi in Athens.