Lusix, the lab-grown diamond company founded by Israeli billionaire Benny Landa, has asked an Israeli court for protection from creditors under the country’s insolvency law, according to an article in CTech. The move is meant “to consolidate a debt arrangement and set the company on a new path through a merger with another Israeli [lab-grown…
Kaisa Group has unveiled its long-awaited debt workout plan to avoid a showdown during next month’s liquidation court hearing in Hong Kong, the first time the Shenzhen-based developer is restructuring its finances since defaulting on US$12 billion of offshore bonds in 2021. The developer offered its creditors several payment options, including new notes denominated in…
Katie Price will have her income from the social media platform TikTok suspended as part of efforts to pay off money owed under her two bankruptcies, a judge has ruled. The former model was declared bankrupt in November 2019 and again in March this year, and is due to face questions over her finances in…
160K individuals yet to be discharged from bankruptcy The Malaysian Reserve Read the original article here
DigiDirect founder Shant Kradjian. Source: Supplied The owner and founder of tech retailer digiDirect has purchased book marketplace Booktopia out of administration, but says there are no plans to copy Amazon by combining both businesses under one giant e-commerce brand. On Monday afternoon, insolvency and restructuring practice McGrathNicol announced digiDirect founder and owner Shant Kradjian…
Hisbe stores in Brighton and Worthing will close for good after telling suppliers that it would be entering voluntary liquidation yesterday. A public announcement on the news is expected. In an email sent to suppliers supported by Hisbe, owners Ruth Anslow and Jack Simmonds said: “This week we made the difficult decision to declare Hisbe…
Jomayi Property Consultants Ltd, once Uganda’s most prominent real estate leader has been sent into liquidation after being declared insolvent by the High court. The court order to wind up comes after NC bank failed to recover Shs 868 million from Jomayi. It all started in 2018, when John Baptist Ssemwogerere secured a…
Rex to axe more jobs after going into voluntary administration Mumbrella Read the original article here
Online retailer Booktopia has been bought by electronics retailer digiDirect, after the company went into administration due to severe financial difficulties. First founded in 2004, Booktopia was an Australian-based online book retailer, and competed with Amazon for online book sales. Booktopia entered voluntary administration in July with debts totaling around $60 million. This is after…
He said: “We worked so hard to stay afloat during Covid, changing to doing takeaway afternoon teas, getting meals and supplies to frontline workers. It was a huge effort. We were doing thousands of meals-a-day to support people during the pandemic. “And now, for the government to just turn round and leave us effectively high…