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Probe sought of Home Guaranty Corp. losses

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Abakada Rep. Jonathan de la Cruz. CONTRIBUTED PHOTO/www.congress.gov.ph

A party-list representative is seeking a House probe into the alleged gross mismanagement of the state-owned Home Guaranty Corp. (HGC), which has incurred P13.3 billion in losses in the past decade.

Posted: February 2nd, 2014 in Latest Business Stories | Read More »

House probe sought on HGC bankruptcy due to zero-coupon bonds

By
FIILE PHOTO

The House of Representatives is being urged to look into the gross mismanagement of the Home Guaranty Corp. (HGC), which buried the state firm in P13.296 billion in losses over a decade bridging the Arroyo and Aquino administrations.

Posted: January 29th, 2014 in Latest Business Stories | Read More »

CA stands pat on ruling affirming Banco Filipino closure

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FILE PHOTO

The Court of Appeals stood pat on its last year’s ruling affirming the legality of the closure of Banco Filipino (BF) Savings Mortgage Bank for failure to settle its obligations.

Posted: December 17th, 2013 in Latest Business Stories | Read More »

Kodak approves court approval for bankruptcy plan

Buyers and industry affiliates pass by the Kodak exhibit at the 2012 International CES tradeshow, Wednesday, Jan. 11, 2012, in Las Vegas. Eastman Kodak filed patent lawsuits against HTC Corp. and Apple this week. (AP Photo/Julie Jacobson)

A federal judge has approved Kodak’s plan to emerge from bankruptcy protection.

Posted: August 21st, 2013 in Latest Business Stories | Read More »

PSE to introduce red alerts against distressed companies

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pse-logo

The Philippine Stock Exchange is proposing an overhaul of guidelines governing companies under financial distress or corporate rehabilitation to include “red alerts” prior to actual bankruptcy, aiming to better protect minority investors who can otherwise get stuck with an illiquid insolvent investment.

Posted: March 21st, 2013 in Latest Business Stories | Read More »

Kodak reaches improved financing deal worth $830M

Buyers and industry affiliates pass by the Kodak exhibit at the 2012 International CES tradeshow, Wednesday, Jan. 11, 2012, in Las Vegas. Eastman Kodak filed patent lawsuits against HTC Corp. and Apple this week. (AP Photo/Julie Jacobson)

Struggling photo pioneer Eastman Kodak Co. will get loans worth $830 million in a new financing package that replaces a $793 million deal.

Posted: November 29th, 2012 in Latest Business Stories,Photos & Videos | Read More »

JAL net profit more than doubles to $343M

Japan Airlines

Japan Airlines, which just two and a half years ago went bankrupt in one of the country’s worst corporate failures, said Thursday first-quarter net profit more than doubled to 26.9 billion yen ($342.75 million).

Posted: August 2nd, 2012 in Latest Business Stories | Read More »

Bankrupt Kodak asks to pull name from Oscars theater

The century-old photography trailblazer Eastman Kodak has filed a request to pull its name from the Los Angeles theater hosting the Oscars as part of bankruptcy proceedings launched last month.

Posted: February 2nd, 2012 in Latest Business Stories | Read More »

Kodak edges toward bankruptcy

Eastman Kodak, the company which brought photography to the masses a century ago, faces a gloomy future amid new reports that it is on the edge of bankruptcy.

Posted: January 6th, 2012 in Latest Business Stories | Read More »

Over 25,000 BF depositors asked to update information, file claims with PDIC

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The Philippine Depository Insurance Corp. (PDIC) is calling over 25,000 depositors of the shuttered Banco Filipino Savings and Mortgage Bank, who have P10,000 or less in deposits, to file their claims with the PDIC because their information with the bank has been found to be incomplete and the agency has no way of reaching them.

Posted: June 8th, 2011 in Latest Business Stories | Read More »

PDIC to service claims of medium-scale, big depositors of Banco Filipino

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MANILA, Philippines — The Philippine Deposit Insurance Corp. (PDIC) has announced it will begin servicing deposit insurance claims of medium to big clients of the recently closed Banco Filipino Savings & Mortgage Bank starting June 15. In a statement, PDIC states that it expects to complete claims settlement for about two months, or from June [...]

Posted: May 30th, 2011 in Latest Business Stories | Read More »

DoJ summons BSP and BF officials for preliminary investigation on May 5

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MANILA, Philippines—The Department of Justice (DoJ) already summoned officials of the Bangko Sentral ng Pilipinas (BSP) and the Banco Filipino Savings and Mortgage Bank for a preliminary investigation on counter charges filed against each other due to the bank’s closure in March. Ordered to appear at the DoJ on May 5 are BSP Governor Amando [...]

Posted: April 26th, 2011 in Latest Business Stories | Read More »

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