Oando’s financial woes raise eyebrows over T&T refinery deal

Bankruptcy

Joshua Seemu­n­gal Se­nior Mul­ti­me­dia In­ves­tiga­tive Jour­nal­ist joshua.seemu­n­[email protected] Niger­ian en­er­gy com­pa­ny Oan­do PLC, the Gov­ern­ment’s pre­ferred bid­der for the lease of the Pointe-a-Pierre re­fin­ery, has been strug­gling fi­nan­cial­ly. Ac­cord­ing to Oan­do’s unau­dit­ed state­ments and sep­a­rate fi­nan­cial state­ments end­ing De­cem­ber 31, 2024, the com­pa­ny is in ac­count­ing in­sol­ven­cy. The fi­nan­cial state­ments, viewed by Guardian Me­dia’s In­ves­tiga­tive Desk,…

Insolvency DG warns of rising trend in self-declared bankruptcy

Bankruptcy

PUTRAJAYA (March 30): The rising trend of individuals declaring bankruptcy voluntarily is becoming a growing concern, signalling that many are struggling with severe financial difficulties. In recent years, more people have opted to declare themselves bankrupt through a Debtor’s Petition, a legal process filed in court to protect themselves from excessive creditor claims. Expressing concern…

China-based foldable pioneer Royole Technologies declares bankruptcy

Bankruptcy

Royole Technologies, a pioneer in foldable display technology and the creator of the world’s first commercial foldable smartphone has declared bankruptcy. Despite its early lead and innovative products, the company struggled financially, leading to its demise. According to IT Home, Finance Sina, and East Money, an announcement from the Shenzhen Municipal Intermediate People’s Court stated…