The Gen Z bosses of an Aussie app developer once hailed as the next Apple say they are absolutely devastated after the company collapsed into liquidation on Friday. Appster, founded by Melbourne teens Josiah Humphrey and Mark McDonald in 2011 using just $3000 in savings, made headlines over the years for its rapid growth and…
German heavy lift company Hansa Heavy Lift has filed for insolvency with the Hamburg District Court amid challenging market conditions. The decision was allegedly triggered by the companys US-based investor Oaktree Capital Management on Monday, December 10. Due to an extremely challenging operating environment in the global shipping industry, Hansa Heavy Lift filed for insolvency…
MINNEAPOLIS, Dec. 12, 2018 /PRNewswire/ —Communications Systems, Inc. (NASDAQ: JCS) (“CSI” or the “Company”), a global provider of connectivity infrastructure and services for deployments of broadband networks, today announced it will initiate a series of restructuring measures by year end that will materially reduce expense levels in its corporate operations and in its Suttle business.…
PV inverter supplier SMA Solar is to lay off 425 full-time staff and discontinue China as a location as part of a restructuring plan announced in September in order to return the company to profitability quickly. The planned restructuring measures, due to be implemented from January 2019, include the sale of the Chinese companies to…
This is to inform you that 7th Meeting of Committee of Creditors (CoC) was held on 10.12.2018.In the meeting, the Chairperson placed before the meeting the Resolution Plans received from two Resolution Applicants. The COC Members discussed and decided to invite the Resolution Applicants for their presentation on the Resolution Plans in the next meeting…
Dodgy insolvency practitioners will now find it harder to facilitate illegal phoenix activity under the governments new rules to restrict the voting right of certain creditors to prevent collusion. Assistant Treasurer Stuart Robert announced the introduction of the new insolvency practice rules that will restrict the voting rights of certain creditors related to a phoenix…
… Read the full article at: https://www.kesq.com/news/palm-springs-storage-business-forgives-debt-to-help-family-in-need/926333200
A COUPLE being investigated following an alleged 390million Caribbean property have been declared bankrupt. David Ames, 66, of Brock Hill, Wickford, and his wife Carol Ann, of the same address, appeared at Southend County Court last week. The couple, who are being investigated by the Serious Fraud Office, were made subject to bankruptcy orders by…
“There are some people for whom payday lenders is appropriate,” Ms Guthrie said. However, very few FCA clients would enter into such arrangements after an initial consultation, it was heard. FCA counsellor Sandra Blake, who appeared alongside Ms Guthrie at the hearings, said she had not seen one instance where payday loans had been useful…
… Read the full article at: http://www.startribune.com/gambling-growth-boosts-u-s-bank-stadium-reserves/502532221/