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It became the biggest bankruptcy in the Philippines, surpassing the $386 million default by Lehman Brothers in the Philippines in 2008. As of January 2019, the five banks were working to take over the company's shipyard. [1]
January 8 – Hanjin Heavy Industries and Construction Philippines (HHIC Phil) files for corporate rehabilitation after declaring bankruptcy. It is the biggest bankruptcy in the Philippines surpassing the more than $386 million financial losses in the country related to the Lehman Brothers bankruptcy of 2008. [1]
The Philippines' exports income had begun growing in the early 1970s due to an increased global demand for raw materials, including coconut and sugar, [1] [10] and the increase in global market prices for these commodities coincided with the declaration of martial law, allowing GDP growth to peak at nearly 9 percent in the years immediately ...
Danish state bankruptcy of 1813. [2] Kingdom of France: 1788: On 17 August 1788, the royal treasury began paying creditors in IOUs rather than money after service on debt (mainly from the Seven Years' War and American War of Independence) had depleted the royal treasury to just 400,000 livres (one day's worth of state expenses).
Banco Filipino Savings and Mortgage Bank (PSE: BF), or simply Banco Filipino, was a savings and loan association based in the Philippines.It is also known for property developments such as BF Homes, subdivisions in Caloocan, Quezon City, Parañaque, and Las Piñas.
Nine contracts worth ₱8.68 billion contracts were awarded to Pharmally despite its small paid-up capital. [4] These were signed by Lloyd Christopher Lao, Department of Budget and Management (DBM) Procurement Service (PS) Officer in Charge since January 2, 2020, in which Pharmally would supply the government supplies for the COVID-19 pandemic including personal protective equipment, surgical ...
Urban Bank (PSE: UBI), also known by its initials (and ticker symbol) UBI, was a middle-sized bank in the Philippines.The bank, along with its two subsidiaries, declared a voluntary bank holiday for failing to meet withdrawals and was consequently closed by the Bangko Sentral ng Pilipinas and put under the mandatory receivership of the Philippine Deposit Insurance Corporation on April 26, 2000.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) (Pub. L. 109–8 (text), 119 Stat. 23, enacted April 20, 2005) is a legislative act that made several significant changes to the United States Bankruptcy Code.