The soaring wind and solar capacity installations in Germany have created an unsustainable business and project economics environment in the sector amid slower grid expansion and electricity generation curtailments. In 2023, Germany crossed the 50% mark of the share of renewable energy in its electricity generation. This year, renewable energy accounted for a record-high 58%…
Image used for representational purposes. File | Photo Credit: Reuters The story so far: The Enforcement Directorate (ED) has escalated scrutiny of alleged irregularities in proceedings under the Insolvency and Bankruptcy Code (IBC), instructing its zonal offices to examine cases involving disproportionately large haircuts through which promoters may have reacquired assets. At its 36th Quarterly…
Construction industry insolvencies last month were more than double the previous monthly high, hitting a record 941 in August as fallout from the collapse of Sydney residential developer Bathla swamped companies across the sector. While the high-profile failure of Bathla – a company with 2500 houses under construction – accounted for 542 of the insolvency…
RBI FAQ clarifies whether ARCs can compete with strategic buyers in IBC proceedings MUMBAI: RBI has cleared the way for smaller asset reconstruction companies (ARCs) to participate in insolvency proceedings as co-resolution applicants and acquire financial assets under a resolution plan without meeting the Rs 1,000-crore net owned fund (NOF) threshold otherwise prescribed for ARCs…
*This content was translated by AI. Prinz & Co. Stahlrohre, a German manufacturer of precision steel pipes and automotive parts with a 130-year history, recently filed for bankruptcy.The company could not withstand the prolonged slump in Europe’s auto industry, sharp increases in raw material and energy prices, and weak summer sales. Analysts widely view this…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
Auto finance firm enters insolvency with $4.97M in claims The Business Journals Read the original article here
The attacker who slashed police constable Chu Chun-kwok’s neck in 2005, leaving him paralysed for over two decades, was released on parole after serving about five years and nine months, and was later declared bankrupt, with both Chu’s family and the Department of Justice dropping compensation claims against him. Liu Chi-yung, then 23, attacked Chu…
A bitter fallout between two children of Moi-era Cabinet minister John Joseph (JJ) Kamotho and their mother contributed to the financial distress that eventually culminated in the siblings being declared bankrupt over Sh4.83 million in legal fees. The High Court declared Marianne Nyokabi Kamotho and David Waweru Kamotho bankrupt after they failed to settle legal…