Senior partner and insolvency practitioner at Hall Chadwick, John Vouris, said there have always been challenges and hurdles small businesses have had to face, yet there are more insolvencies than ever. “Over time there have been recessions, there have been global economic crises, there has been the .com, boom bust. There are always external issues,”…
In a significant development for BYJU’S, the Supreme Court of India has reinstated insolvency proceedings against the beleaguered edtech startup. This decision, made on August 14, marks a crucial turn in the ongoing financial turmoil faced by the company. Court Decision and Its Implications The Supreme Court bench, led by Chief Justice DY Chandrachud and…
Fabric and crafts retailer Joann Inc. filed for bankruptcy, unable to sustain its debt load after a sales boom during pandemic lockdowns faded. The Hudson, Ohio-based chain will be delisted after the bankruptcy proceedings and be privately owned by “certain of its lenders and industry parties,” according to a company statementBloomberg Terminal released as it…
In March, Enviva, the world’s largest woody biomass producer for industrial energy, declared bankruptcy. That cataclysmic collapse triggered a rush of political and economic maneuvering in the U.S. (a key wood pellet producing nation), and in Europe (a primary industrial biomass energy user in converted coal plants). While Enviva publicly claims it will survive…
A Federal Court judge has ordered Bruce Lehrmann to pay costs of a higher order than typically seen in defamation cases, but also declared there were “no real winners” in the multi-million-dollar legal battle. Justice Michael Lee found last month that, on the balance of probabilities, Mr Lehrmann raped Brittany Higgins in Parliament House in…
The first half of 2024 was incredibly challenging for the restaurant industry, which continues to face rising labor and operating costs and declines in traffic. Several casual chains, including TGI Fridays, Bloomin’ Brands, Hooters and Denny’s closed underperforming locations. Red Lobster closed roughly 100 locations and then declared bankruptcy. The bankruptcy of the full-service seafood…
Lawrence Dallaglio Dallaglio has followed in the footsteps of Wilkinson and Dawson, becoming a well-known rugby pundit. He provided coverage for the Rugby World Cup on ITV in 2011. Additionally, he is renowned for his philanthropic efforts, having founded the Lawrence Dallaglio Foundation. This organisation aims to empower young people through sport and supports teenage…
The National company Law Tribunal (NCLT), Bengaluru bench has admitted the insolvency plea against Coffee Day Enterprises Ltd (CDEL), the parent company of the Coffee Day Group that runs the Cafe Coffee Day. The insolvency petition was filed on September 8, 2023 under section 7 of the Insolvency and Bankruptcy Code, 2016, by IDBI Trusteeship…
Companies are collapsing at levels not since 2012, ASIC says, with external administrations on track to exceed 10,000 by the end of the financial year. ASIC recorded 7,742 company failures in the past nine months, over a one-third increase on the same period last year, according to insolvency data published yesterday. “With only one quarter…
Loans for buying back seized assets PUBLISHED : 17 Aug 2024 at 06:20 Small Medium Large The Supha Wongsena Foundation For Debtors’ Rights Reform has… Read the original article here