Volocopter, a Bruchsal startup focused in electric vertical take-off and landing (eVTOL) aircrafts, has filed for provisional insolvency after difficulty in finding further funding, marking a setback for the European eVTOL industry. Founded in 2011, Volocopter gained widespread recognition for its innovative air taxi solutions and was often seen as a frontrunner in the race…
This eVTOL Startup Has Filed for Bankruptcy Volocopter GmbH Germany’s Volocopter has entered insolvency proceedings in its home country after a number of successful prototype demos in recent months. The startup’s craft uses a large number of individual propellers arranged around an overhead ring structure, as in a hobby drone, while featuring a small helicopter-style…
Date published: 30 December 2024 The High Court has made a Disqualification Order against the director of a company involved in repair and maintenance of aircraft and spacecraft. The High Court has made a disqualification Order against the director of a company involved in repair and maintenance of aircraft and spacecraft. The Order was made…
Although the industry is known for firms going under, the wider picture shows the problem is less severe, writes Barrett Harris. When examining the insolvency rate, which measures insolvencies relative to the total number of companies, construction ranks third with an insolvency rate of 1.3%, behind accommodation (2.6%) and manufacturing (1.7%). This suggests that, proportionally,…
Dec 29, 2024 02:01 PM IST Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire. Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire. After his oil trading empire collapsed, former tycoon Lim Oon Kuin…
Dem-run city may go bankrupt thanks to public sector pension scheme MSN Read the original article here
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Coalition forecasts more than 10,000 businesses to go bankrupt by next parliament sitting MSN Read the original article here
Gauteng is at risk of bankruptcy, with the health department putting immense strain on the province’s finances. The Gauteng government is looking to avoid a financial “day zero”, but questions remain about whether the province could truly face bankruptcy next year. Several months ago Finance and Economic Development MEC Lebogang Maile warned that Gauteng could…
The company plans to continue business operations during the insolvency proceedings while seeking additional funding. “Despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible,” Volocopter said in a statement. “Business operations will continue as usual during the provisional insolvency proceedings. The provisional insolvency…