Nuvoco Vistas Corp. Ltd., India’s fifth-largest cement group and a leading player in East India, has emerged as the SRA of Vadraj Cement Limited (VCL), currently undergoing Corporate Insolvency Resolution Process. The Resolution Plan submitted by Nuvoco has been approved by the Committee of Creditors (‘CoC’), and a Letter of Intent (LOI) has been issued.…
The insolvency rate remains below the 20-year running average, with considerably less insolvencies last year than was expected. While there were 852 insolvencies in 2024 – an increase of 16% – this was below the expected number of 900. On Newstalk Breakfast, spokesperson for professional services firm PwC Ken Tyrrell said that while the overall…
The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, Partner and Attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator. Volocopter develops all-electric vertical takeoff and landing (eVTOL) aircraft. Founded in 2011, the startup company is nearing the finish line to obtain aircraft type certification and launch its urban…
Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…
Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…
Birmingham’s city center is thronged by empty lots with unfinished and unstarted building projects, like this one in the Deritend area. In 1890, an American journalist named Julian Ralph traveled from New York to Birmingham, an industrial powerhouse lying squarely in the center of England, and found it to be “the best-governed city in the…
Source: Business Times Article Date: 28 Dec 2024 Author: Tay Peck Gek This comes after the family agreed to pay US$3.5b to the court-appointed liquidators of the company and top creditor HSBC. Hin Leong’s founder Lim Oon Kuin and…
There was a lower than expected number of business insolvencies recorded during 2024 as upward trends towards the end of the year slowed, new figures published by accountancy firm PwC shows. During the course of 2024, PwC had been projecting there to be over 900 business insolvencies recorded by the end of the year. However,…
Elon Musk, Tesla CEO and tech billionaire, has recently expressed concerns about the US economy, warning that the nation could face bankruptcy “super fast” without significant intervention. Musk made the comments on The Joe Rogan Experience, voicing concerns about the US national debt which has reached a staggering $36.17 trillion and the growing burden of…
The court has declared the Zeeland transhipment company Bulk Terminal Zeeland (BTZ) bankrupt. The company, which operated a transhipment terminal in Quarleshaven in Vlissingen-Oost, recently had to shut down due to suspicions of involvement in drug trafficking. Last week, it became evident that bankruptcy was imminent. The company was granted a moratorium on payments, a…