JAKARTA — Attempts by one of Indonesia’s biggest textile companies, Sri Rejeki Isman (Sritex), to appease its creditors and remain operating ended in defeat on Friday when a court declared it insolvent. More than 12,000 workers will lose their jobs when the business is foreclosed on Saturday, dealing a blow to President Prabowo Subianto’s efforts…
The high debt saddling the world’s poorest countries needs an urgent reset to avoid multiple crises, African leaders said Thursday as they launched an initiative for debt relief and fairer borrowing terms. The African Leaders Debt Relief Initiative, signed on the sidelines of a G20 finance meeting in South Africa, will push for a revamp…
GHW International Restores Public Float Following Shareholder Liquidation TipRanks Read the original article here
MicroStrategy is down over 55% from peak, fueling forced liquidation concerns MSN Read the original article here
Alma Juventus Fano officially ceases its competitive activity and will therefore face definitive exclusion from the championship of Excellence at the fourth match in which he will not show up. The president and administrator of the company Salvatore Guida announced that “Alma has been placed into liquidation by a trusted professional firm and will sadly…
In a bid to equip Ghanaian businesses with essential legal knowledge for navigating corporate growth and financial uncertainty, the book Companies, Corporate Insolvency and Restructuring in Ghana: The Law and Practice (Volume 1) has been officially launched. Authored by Ace Anan Akomah et al., the book—also known as the Blue Book—serves as a comprehensive guide…
It was mid-afternoon on Friday, but it was impossible to look away from the ASX screens that would deliver the news on whether Star Entertainment had managed to survive the day. Administrators are at the ready, advisers are working overtime and the statements have surely been drafted, but the casino operator is still clinging to…
This led to the appeal before NCLAT. The NCLAT arrived at the following conclusions: Invalid Authorization: The tribunal found that Manohar Maddili, who filed the application on behalf of IDBI, did not hold a valid power of attorney at the time of filing. The authority granted to him had been superseded by a subsequent resolution…
Lilium Aerospace GmbH has filed for insolvency at the Weilheim District Court. The court ordered provisional insolvency administration and appointed lawyer Dr. Robert Hänel from Anchor Rechtsanwälte as provisional insolvency administrator. The company was originally founded to continue the development of an electric flying taxi with investor money after the insolvencies of Lilium GmbH and…
When this approval is sought is important, as a balance must be maintained between the CCI’s review of competition dynamics and the time-sensitive insolvency process. Also Read: There’s no arguing with the broad thrust of CCI’s order on WhatsApp’s use of data Recently, the Supreme Court in the case of Independent Sugar Corporation Ltd vs…