VAST Networks, once valued at over R1 billion, was shut down in 2019 after failing to turn a profit. Founded in 2014 as a joint venture between Dimension Data and Naspers, the company aimed to provide carrier-grade Wi-Fi across Southern Africa. Despite significant investment and expansion, VAST struggled to monetize its services. After unsuccessful sale…
The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, Partner and Attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator. Volocopter develops all-electric vertical takeoff and landing (eVTOL) aircraft. Founded in 2011, the startup company is nearing the finish line to obtain aircraft type certification and launch its urban…
(Bloomberg) — Saudi Arabia, one of the largest bond issuers in emerging markets last year, signaled it’s set to maintain a similar pace of borrowing in 2025 to help fund huge oil-diversification projects. The kingdom’s funding needs this year are estimated to be 139 billion riyals ($37 billion), the National Debt Management Center said in…
The recent judgment by the National Company Law Appellate Tribunal (NCLAT) in NCC Ltd. v. Golden Jubilee Hotels Pvt. Ltd.1 sheds light on the treatment of operational creditors under the Insolvency and Bankruptcy Code, 2016 (IBC). This ruling emphasizes the evolving judicial perspective regarding the categorization and sub-classification of operational creditors, highlighting the need for…
Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…
Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…
Birmingham’s city center is thronged by empty lots with unfinished and unstarted building projects, like this one in the Deritend area. In 1890, an American journalist named Julian Ralph traveled from New York to Birmingham, an industrial powerhouse lying squarely in the center of England, and found it to be “the best-governed city in the…
Source: Business Times Article Date: 28 Dec 2024 Author: Tay Peck Gek This comes after the family agreed to pay US$3.5b to the court-appointed liquidators of the company and top creditor HSBC. Hin Leong’s founder Lim Oon Kuin and…
PARIS, January 06, 2025–(BUSINESS WIRE)–Regulatory News: ACTICOR BIOTECH (FR0014005OJ5 – ALACT), a clinical stage biopharmaceutical company developing glenzocimab, an innovative drug for the treatment of cardiovascular emergencies, announced today that the Paris Commercial Court, has declared on January 2, the company in liquidation proceedings. The liquidator is Marc-Antoine Rey, SELARL BDR & Associés, 34 rue…
AS Tallink Takso plans to cease operations within the next month and will undergo liquidation. The company will immediately begin negotiations to terminate taxi service agreements and other contractual obligations. Contractual taxi services will continue until all obligations are fulfilled, while non-contractual clients will be serviced for the next month. As part of the liquidation process, 14…