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legal Justice is still not consistent, writes Catherine Belton Ole Bjorn Sjulstad says that the misuse of Russia's regional courts system is beyond anything he has ever seen. After working [...]

HOUSTON -- As the first week of the defence case in the Enron trial ended, much expectation surrounded the testimony of Jeffrey Skilling, the company's former chief executive, who is [...]

Two weeks ago a group of foreign banks filed a bankruptcy suit against Yukos in Moscow, trying to recover Dollars 482m of debt from what was once Russia's largest company. [...]

Houston's SouthernDistrict courthouse will this week place two markers on the face of the energy business, with key decisions expected in the controversial break-up of Yukos and the trial of [...]

Winding up ITV Digital is likely to cost Granada and Carlton Communications a further Pounds 100m as the financial damage inflicted by their disastrous pay-TV venture edges closer to Pounds [...]

Tessa Jowell yesterday defended the government's 2010 analogue switch-off target despite the failure of ITV Digital, saying she expected a buyer for the company's broadcasting licences within six weeks. She [...]

CHICAGO -- Kmart, the bankrupt US retailer, said yesterday it would delay filing its annual report with the US Securities and Exchange Commission until May 15, to complete an internal [...]

The market has spoken: Kenneth Lay, the poor befuddled former Enron chief executive, is about to have the mahogany bed sold out from under him by his own wife and [...]

Scottish football's financial crisis claimed its first victim yesterday as Airdrieonians, the first division club, was placed into liquidation following a fruitless two-year search for a buyer. The 124-year-old club [...]

Granada and Carlton have walked away from their expensive misadventure in pay-TV, forcing the leading shareholders in ITV to get back to their knitting. That is, the performance of the [...]

NEW YORK -- False accounting by Enron's previous management helped prompt the energy group to overstate the value of its assets by Dollars 14bn, the company said yesterday. Enron's new [...]

It is hardly a Hollywood ending: the two villains ride off into the sunset together, saddlebags full of cash and without a care for the havoc they have left behind. [...]

FRANKFURT -- The management of Kirch-Media, Kirch Gruppe's largest subsidiary, which has filed for insolvency, agreed yesterday to lift the veil on the business's accounts in a move to raise [...]

Two years after the technology boom went bust, the recriminations are still in full swing. Eliot Spitzer, New York attorney-general, is pursuing Merrill Lynch and other securities firms. Harvey Pitt, [...]

SYDNEY -- Australia was on the brink of a healthcare crisis last night after the collapse of its biggest medical indemnity insurer. United Medical Protection, which insures more than half [...]

FRANKFURT -- Executives from the main Hollywood studios are due in Munich today to discuss a debt-for-equity deal aimed at saving Premiere, the heavily lossmaking pay-TV arm of Germany's Kirch [...]

ITV Digital Carlton and Granada's nightmare on Queenstown Road is nearly over. After months of battling to keep ITV Digital alive they have finally unplugged the monster. Unless a buyer [...]

FRANKFURT -- Soccer fans in Germany were saved from the prospect - unprecedented in Europe - of black screens this weekend after the league reached an 11th-hour compromise with the [...]

ITV Digital's 1m subscribers will continue to receive their pay-TV channels over the weekend as the company's administrator conducts a last-gasp search for a potential buyer of the assets. Suppliers [...]

Fairchild Dornier, the insolvent US-German regional aircraft manufacturer, will have to abandon its new 70-seat series if no strategic investor is found by the end of June, Eberhard Braun, the [...]

ITV Digital will be sold or closed within days, bringing to a shambolic end the first chapter of the UK's digital terrestrial television experiment. The pay-TV service, in the hands [...]

ITV Digital watchers have found themselves stuck in a groundhog day as the pay-TV business inches towards inevitable collapse. Yesterday's news that Nick Dargan, the administrator from Deloitte & Touche, [...]

'You've got nothing to lose,' said Theo, the helpful assistant in Dixons on London's Holborn, in response to my concerns about buying a subscription to ITV Digital, writes Ashling O'Connor. [...]

Marchpole, the Yves St Laurent men's wear licensee, said it risked falling into receivership after its bankers demanded repayment of their loans amid the battle between the company and its [...]

Quiero TV, Spain's only experiment with terrestrial digital pay television, has been closed down, with estimated losses of Euros 600m (Dollars 539m). The decision to wind up the business was [...]

NEW YORK -- WorldCom yesterday defended its ability to pay its debt and achieve cashflow objectives for the year as it reported a steep drop in first- quarter profits. Responding [...]

From Prof Avinash Persaud. Sir, One of the fascinating things about the raging debate on what type of sovereign bankruptcy arrangements we should have in the light of Argentina's ongoing [...]

Motherwell FC became the first casualty of the rift between Celtic, Rangers and the Scottish Premier League's 10 other clubs yesterday as owner John Boyle, the entrepreneur and business angel, [...]

Growing optimism about the economy is set to trigger a rise in company failures, big credit reference agencies and corporate recovery professionals have warned. The gloomy prediction is based on [...]

Last month, Carter Pate,a PwC managing partner, estimated that 11,000 publicand private companies would go bankrupt in 2002, most of them in the manufacturing and services sector. Since then, companies [...]

NEW YORK -- A record 257 public companies declared bankruptcy last year and another 200 are expected to file this year, PwC recently reported. Never before have so many investors [...]

WARSAW -- Elektrim moved closer to bankruptcy yesterday after a court suspended four months of talks with its bondholders. Warsaw's district court made the ruling after a majority of the [...]

LONDON and FRANKFURT -- Leo Kirch is to get a multi-million-dollar consultancy contract to help administrators handling the collapse of his German media empire. Investors and creditors are understood to [...]

As ITV Digital's administrator starts fielding potential offers for the payTV company, he might consider that its biggest selling point so far has been a monkey. Nick Dargan, administrator at [...]

ITV Digital has turned into a thoroughly sorry drama. The 1.2m subscribers could see their screens go fuzzy within weeks. The outlook for government and business is just as blurred. [...]

NEW YORK -- False accounting by Enron's previous management helped prompt the energy group to overstate the value of its assets by Dollars 14bn, the company said yesterday. Enron's new [...]

WASHINGTON and NEW YORK -- The use of stock options by US companies needs to be reviewed following the collapse of Enron, according to corporate governance experts who testified yesterday [...]

ITV Digital was yesterday formally put up for sale after its administrators failed to agree revised terms with the Football League, one of the pay-TV company's key creditors. Nick Dargan, [...]

FRANKFURT -- Leo Kirch's crumbling media empire is expected to suffer a further blow as early as today when Taurus, the Kirch group holding company, files for insolvency. Bankers said [...]

Seton, the US leather manufacturer, has expressed interest in buying Connolly, the leather supplier that went into administration last week. KPMG, appointed administrator, is expected to start sending out prospectuses [...]

The troubles of the information technology sector were highlighted yesterday as two smaller companies admitted they were in difficulties. Izodia, the software provider formerly known as Infobank, put itself up [...]

ITV Digital is to cut half its staff as the ailing pay-TV business loses 3,000 customers a day. The move by the administrators to halve ITV Digital's daily operating costs [...]

The crisis in the split capital investment trust industry is a bit like a piece of classical tragic theatre - painfully slow-moving and full of entrances and exits by a [...]

The Department of Trade and Industry yesterday raided Clubhaus, the golf and country clubs operator that is attempting to restructure its Pounds 105m debt in a bid to avoid insolvency. [...]