TEMPO.CO, Solo – A total of 10,665 workers of the textile giant Sritex have been terminated, per January to February 26, 2025, as court declared the company bankrupt. The workers came from four companies under the Sritex Group: PT Sritex Sukoharjo, PT Bitratex Semarang, PT Sinar Panja Jaya Semarang, and PT Primayuda Boyolali. Slamet Kaswanto, the…
Payments infrastructure start-up Kevin reportedly declared insolvent by court in Lithuania FinTech Futures Read the original article here
Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group’s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order…
New Delhi, Mar 26 (PTI) Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group’s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy…
New Delhi, Mar 26 (PTI) Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group’s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy…
A southern-based firewood business has blamed shortage of wood, staffing difficulties, theft of cut wood and Covid-19 for its insolvency position. KD Firewood, which originated in Invercargill and later took over Wanaka Firewood, was put into liquidation by a special resolution of shareholders earlier this month. The company, which was incorporated in October 2019 and…
Roberts Co’s Victorian arm went into administration owing more than 100 trade creditors up to $50 million in debts – mostly current progress claims – creditors heard in their first meeting with administrators on Wednesday. Total liabilities went up to about $186 million if obligations to all bond holders and contingent claims for liquidated damages…
23andMe, a formerly high-flying genetic testing company, announced Sunday that it was declaring bankruptcy and that it would seek a buyer. The company also said CEO and co-founder Anne Wojcicki is resigning immediately and will be replaced by Chief Financial and Accounting Officer Joe Selsavage as interim chief executive. 23andMe moved in November to slash…
Ola Electric settles dispute with Rosmerta, petition withdrawn Tech in Asia Read the original article here
K-Pop Scandal-Ridden Burning Sun Entertainment Goes Bankrupt After Assets Fall Below 500 Million KRW Burning Sun Entertainment has gone bankrupt. The corporation the infamous nightclub Burning Sun in Gangnam has officially begun bankruptcy proceedings, as reported by Korean media. On March 25, legal sources stated that the Seoul Bankruptcy Court’s Division 13 declared simplified insolvency…