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Like Southgate, they were made directors of limited liability partnerships (LLPs) and were able to write off losses against other income.
Some current and former Finance Ministry officials said they were reluctant to reach settlements or write off losses even when it was clear the money was lost, fearing political retribution and corruption investigations.
But the progress report revealed a string of creditors had been forced to write off losses of more than PS2 million.
But the new progress report reveals a string of creditors throughout the UK, including companies and individuals, who face having to write off losses of more than PS2 million.
Global Banking News-February 14, 2013--Indian lenders gear up to write off losses over Kingfisher brand collapse(C)2013 ENPublishing -
The shareholders also agreed to write off losses worth KWD 31.1 million against Global's current share premium and a further KWD 77.1 million from its existing paid-up capital, according to a report from Reuters.uBME
The 77 Bank also said that it estimates to have incurred a consolidated net loss of 30 billion yen in its business year ended March, compared with an earlier projected profit of 15 billion yen, as it set aside 55 billion yen to write off losses on loans to firms that have been rendered insolvent by the quake-tsunami disaster.
In the same month Fubon Life and Fubon Insurance appropriated NT$590 million (US$17.88 million) and NT$120 million (US$3.64 million), respectively, to write off losses in their investments in collateralized debt obligation (CDO).
The current crisis is bigger than the issue of SWFs, some of which tried to help solve the mortgage crisis by buying significant assets in some global banks and financial institutions, which were badly affected by the crisis, and write off losses worth billions of dollars.
drugmaker to write off losses from subprime-related investments, booking a $275 million charge in the fourth quarter and an unrealized pretax loss of $142 million, prompting the replacement of its treasurer last month.
In addition, the company often had to write off losses due to adjustments in revenue caused by the flawed billing.
And, if you are among the majority of investors who have incurred losses in 2002, don't forget that you're allowed to write off losses dollar for dollar against your gains plus $3,000 of ordinary income.
Amdahl, a computer software firm based in Sunnyvale, California, will write off losses following its shift away from IBM-compatible systems to ones that are compatible with different computer types, the company said.
If it is forced to write off losses from dollar-denominated Princeton Economic Int'l Ltd.
To ice the cake, we should impose an at-risk rule, which states that an investor can't write off losses on money for which he is not personally liable, such as the non-recourse loans that multiply McGovern's deductions.