Liquidators investigate whether failed student agency improperly moved funds out of Australia

A liquidator is investigating whether a failed international student agency improperly transferred funds out of Australia in the weeks before its collapse. GrowPro Experience, a Spain-based company which helps arrange global study for international students, was put into administration earlier this year. Its collapse has left hundreds of students at risk of losing years of…

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Ola Electric shares hits 52-week low, subsidiary faces insolvency petition

Ola Electric Mobility Limited disclosed Saturday that its wholly owned subsidiary, Ola Electric Technologies Private Limited, faces an insolvency petition filed by Rosmerta Digital Services Limited. The petition was submitted to the National Company Law Tribunal (NCLT) in Bengaluru under Section 9 of the Insolvency and Bankruptcy Code. Also read: Ola Electric’s subsidiary faces insolvency…

Debt management agency’S 3P formula promotes responsible ‘Buy Now, Pay Later’ usage amid growth

KUALA LUMPUR (March 17): The Credit Counselling and Debt Management Agency (AKPK) has introduced the 3P formula — Purpose, Payment Capacity and Payment History — to guide individuals in making responsible credit decisions, particularly in short-term financing like ‘Buy Now, Pay Later’ (BNPL). AKPK, in a statement on Monday, emphasised that the agency is committed…

Hudson’s Bay looks to liquidation as additional financing not secured

Canadian department store retailer Hudson’s Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction under the Companies’ Creditors Arrangement Act.  Hudson’s Bay ​The Toronto-based company said it has only secured limited debtor-in-possession financing that will require the full liquidation of the entire business, added that a store-by-store liquidation process will…

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