Creditors owed 3.3 billion dollars approve restructuring plan, production to recommence next month A large crowd gathered today at the regional court in Ried im Innkreis, Austria, for the creditors’ meeting concerning KTM AG’s financial future. The session, which began at 9 a.m., attracted nearly 100 attendees, including journalists and key KTM executives such as…
Lilium Aerospace GmbH has filed for insolvency at the Weilheim District Court. The court ordered provisional insolvency administration and appointed lawyer Dr. Robert Hänel from Anchor Rechtsanwälte as provisional insolvency administrator. The company was originally founded to continue the development of an electric flying taxi with investor money after the insolvencies of Lilium GmbH and…
Fans heartbroken after bankrupt fabric giant Joann closes all of its 800 stores The Mirror US Read the original article here
JAKARTA — Attempts by one of Indonesia’s biggest textile companies, Sri Rejeki Isman (Sritex), to appease its creditors and remain operating ended in defeat on Friday when a court declared it insolvent. More than 12,000 workers will lose their jobs when the business is foreclosed on Saturday, dealing a blow to President Prabowo Subianto’s efforts…
It was mid-afternoon on Friday, but it was impossible to look away from the ASX screens that would deliver the news on whether Star Entertainment had managed to survive the day. Administrators are at the ready, advisers are working overtime and the statements have surely been drafted, but the casino operator is still clinging to…
Lilium Aerospace GmbH has filed for insolvency at the Weilheim District Court. The court ordered provisional insolvency administration and appointed lawyer Dr. Robert Hänel from Anchor Rechtsanwälte as provisional insolvency administrator. The company was originally founded to continue the development of an electric flying taxi with investor money after the insolvencies of Lilium GmbH and…
Metropolitan Sacco now insolvent, declares State Nation Read the original article here
DENYSOFF/Shutterstock An icon of American orange juice is facing a money crisis. According to Debwire (via CNN), Tropicana Brands Group, whose eponymous orange juice brand is one of the best, has recently suffered a 10% loss in quarterly income and a 4% quarterly revenue loss. The consistently lagging…
Lilium Aerospace, a prominent player in the burgeoning electric vertical take-off and landing (eVTOL) industry, has once again found itself in turbulent skies. The company has now filed for insolvency for the second time. This latest filing comes amid financial setbacks after a promise of funding support failed to materialize. Lilium becomes the latest casualty…
TEMPO.CO, Jakarta – The Sritex bankruptcy liquidators could not work properly to recover loans owed to creditors. There were threats from senior police officers. THE protracted bankruptcy proceedings of Sri Rejeki Isman, or Sritex, a company with 50,000 employees, are the result of government interference. The plan to save the integrated textile company through a…