The National Company Law Tribunal (NCLT) in Bengaluru on Tuesday (December 10) dismissed an insolvency petition filed by Indian Bank against Mantri Developers, a major real estate company with various residential projects and malls in Bengaluru, reported Bar and Bench. Company Value Change %Change The petition, filed in 2022, was based on an alleged default…
In late October, Lilium N.V., a leading electric aircraft manufacturer and pioneer in regional air mobility, announced that its principal German subsidiaries were to apply for self-administration proceedings with the competent court in Germany. This filing follows a lengthy and complex government approval process for a loan from the German state-owned investment and development bank…
South Korean Crypto Lending Platform Delio Declared Bankrupt Binance Read the original article here
Research from Alares suggests the spike in business insolvencies is being driven primarily by tax debt. Outstanding debts owed to the Tax Office are pushing a growing number of Australian businesses into voluntary administration in hopes of preventing a collapse. Tax debt is the primary driver behind the growing number of business recovery activities engaged…
On Tuesday, Tesla (NASDAQ:)’s CEO Elon Musk made a bold statement about the potential consequences for anyone holding a short position against his company. Musk suggested that even someone with the wealth of Bill Gates could face bankruptcy if Tesla becomes the most valuable company in the world. The context of Musk’s claim is rooted…
Insolvency specialists Begbies Traynor enjoyed a surge in revenues in the six months to the end of September 2024 and are on course to hit a target of £200m in income. Analysts expect the Manchester-based professional services group to post full year “adjusted” pre-tax profits of £23.0m-£24.3m, which this morning’s statement said the company was…
Munich-based spyware company FinFisher declared insolvency last month, Bloomberg and Netzpolitik Monday, amid an ongoing investigation into its business dealings. The controversial firm was accused of selling surveillance spyware to repressive regimes to target dissidents, activists, and journalists. “FinSpy,” the company’s most profitable spyware, has been monitored by the German government and human rights organizations…
After rising from notoriety to public office, a leading voice in the infamous fight against plans for a mosque in country Victoria has been declared bankrupt and has quit her position as a city councillor. Julie Hoskin played a key role in the vocal, but ultimately defeated, campaign to block Bendigo’s first mosque, which drew…
Tesla Inc. TSLA CEO Elon Musk quipped on X that Microsoft Corp. MSFT co-founder Bill Gates could face bankruptcy if Tesla becomes “the world’s most valuable company by far,” escalating their long-running dispute over Gates’ short position in the electric vehicle maker. What Happened: The statement comes as Tesla’s market capitalization stands at $1.251 trillion,…
Tupperware Tupperware Brands, the company that revolutionised food storage decades ago, has filed for Chapter 11 bankruptcy protection in the US in September. Just a few months later, it was revealed Tupperware would pull its operations out of Australia. Tupperware reportedly decided to wind up manufacturing and sales Down Under, potentially resulting in around 10,000…