Category Archives: Bankruptcy

Federal High Court creates Insolvency Unit to address companies’ restructuring and dissolution in Nigeria 

The Federal High Court Headquarters has announced the creation of an ‘Insolvency Unit’ for the Court, aimed at addressing the implementation of laws relating to company restructuring and dissolution in Nigeria. According to the court, the laws related to “Company Voluntary Arrangements (CVA), Administration, Receivership, Winding Up (Dissolution), and various forms of restructuring of companies”…

Nova: Insolvency pays – Moneyweb

Nova Property Group, the rescue vehicle of the failed R4.6 billion Sharemax property syndication scheme, is insolvent. Nova’s annual financial statements (AFS) for the year ending February 2024 reveal a company in severe financial distress, with mounting debt, unpaid taxes and severe cash flow constraints. It is also clear that Nova cannot repay the former…

Millionaire stars who’ve gone broke from iconic 90s singer to legendary footballer as Katie Price has bankruptcy wiped

KATIE Price was discharged from her second bankruptcy this week – and has now vowed to claw back her lost £100million fortune.  It brings to an end six years of financial hell for the 46-year-old model, and she has now been discharged from her second bankruptcy, relating to an unpaid tax bill of over £750,000. …

Ola Hits Back At Rosmerta Over Insolvency Petitions

Bengaluru-based Ola Electric has encountered significant challenges at the start of the year. The company is already struggling with sales, due to which it has dropped down to fourth position in the Indian EV race, according to data from Vahan portal. Earlier, the company had cited that this drop in sales was due to changes…

Katie Price admits spending up to £700 a WEEK on her food shop as her £750k bankruptcy debt is wiped clean

KATIE Price has revealed she spends a whopping £700 a week on the food shop. The 46-year-old admitted even though she splashes out almost a grand on her grub every seven days – she still needs a trip to the store mid-week to “top up.” 6 Katie Price has revealed she spends a whopper £700…

Over 5,200 youths declared bankrupt since 2020, Senate told

KUALA LUMPUR (March 13): A total of 5,272 youths below the age of 34 have been declared bankrupt from 2020 to this year, according to Youth and Sports Minister Hannah Yeoh. She said that of the total, 5,189 were aged between 25 to 34, while 83 others were below 25. “The trend of bankruptcy among…