One of South Africa’s biggest companies technically insolvent – BusinessTech
One of South Africa’s biggest companies technically insolvent BusinessTech Read the original article here
US Will Be Bankrupt If Spending Not Fixed: Musk – WE News English
US Will Be Bankrupt If Spending Not Fixed: Musk WE News English Read the original article here
How Gemini clients made a killing going bankrupt – DL News
Gemini says lending programme creditors will get back a 232% return on their investments. The money comes partly from sales of GBTC shares. Bankrupt crypto lender Gemini announced on Wednesday that its Earn customers will recover more than $940 million in crypto — more than triple what they lost when the firm shuttered the lending…
Joann files for bankruptcy — again
New York CNN — Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale. The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first filed for bankruptcy in…
Nikola goes bankrupt amid cash burn, files for Chapter 11 bankruptcy protection; EV maker stock crashes to all-time low
Nikola said on Wednesday, February 19, it had filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets, the latest electric-vehicle (EV) maker to go bankrupt after grappling with tepid demand, rapid cash burn and funding challenges. In recent years, the EV truck maker has endured cash-flow issues, slow demand, short-seller…
Battle of the insolvency provisions: Which law governs insolvency of insurance companies?
The matter of Salesio Kinyua Njagi and Nine Others v Invesco Assurance Company Limited [2021] (eKLR) dealt with the application of the law around the insolvency of insurance companies. Public interest is of great concern to the insurance industry, necessitating its consideration when filing liquidation proceedings against such companies. It is imperative to have clarity on…
Hospitality insolvencies continue to fall down 7% year-on-year and 31% month-on-month
This week’s company insolvency statistics show accommodation and food services insolvencies were down 7% year-on-year from 3,737 in 2023 to 3,464 in 2024, and fell 29% when compared to the same month in the previous year (315). Insolvencies in the sector saw an even bigger drop month-on-month, down 31% from 327 in November 2024 to…
Risky Business: Distressed Companies and Payments in the Shadow of Bankruptcy | Ward and Smith, P.A.
Doing business with a customer in the shadow of bankruptcy is risky. A hallmark of bankruptcy law is equal treatment of similarly-situated creditors. The Bankruptcy Code frowns upon a debtor who, while insolvent, pays some creditors but not others in the run-up to bankruptcy – whether voluntarily or due to pressure. Under the Bankruptcy Code,…
Elon Musk’s ‘big warning’: America will go bankrupt if… |
Billionaire entrepreneur and Tesla CEO Elon Musk has voiced his concerns over the U.S. trade deficit and government spending, warning that America is at risk of bankruptcy if spending is not brought under control. Speaking in an interview with Fox News on February 19, 2025, Musk criticized wasteful government expenditures and urged taxpayers to recognize…
Elon Musk warns ‘America will go bankrupt’ if deficit isn’t fixed and wasteful spending continues
Tesla CEO and self-proclaimed “DOGE Head” Elon Musk sharply criticized the US government’s spending, warning that if the growing deficit is not addressed, “America will go bankrupt.” Speaking in an interview with Fox News on Tuesday, Musk said that the average American taxpayer “should be mad as hell” over wasteful expenditures. “The overall goal is…