The potential insolvency of Byju’s, a prominent Indian education technology company, could become the largest disruption in the once-thriving startup sector, sparking a prolonged struggle among thousands of anxious employees to recover their owed compensation and safeguard their careers, according to Reuters report. Once a favorite among global investors and valued at $22 billion in…
Prive Global Sports Ltd offered heavily discounted hospitality packages to businesses for in-demand sporting events The company’s clients paid for packages which were later cancelled with no refunds provided Customers have lost more than £600,000 in total A company which offered half-priced hospitality at sold-out sporting events has been shut down after cancelling the bookings…
The UK’s accounting watchdog has launched an investigation into an accountant at Thurrock council after the Conservative-run local authority’s failed investment spree landed it in effective bankruptcy. The Financial Reporting Council (FRC) said its move related to an individual’s compliance with governance, reporting, regulations and professional standards at the Essex council over its operations and…
By Reuters Published Feb 25, 2015 SuperGroup Plc, the owner of the Superdry fashion brand, said on Wednesday its finance chief Shaun Wills had quit after being declared bankrupt two weeks ago. Wills, who is a qualified accountant, was made the subject of a personal bankruptcy order on Feb. 10, the company said, but it…
BENGALURU/NEW DELHI :The insolvency of Indian education technology company Byju’s threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers. Once a darling of global investors, valued at $22 billion in 2022, Byju’s became popular by offering online…
The sale of Blachford Lake Lodge through a year-long insolvency process is set to result in almost no repayment of any debt other than a partial payment to Prosper NWT. Documentation filed this month by BDO, the company overseeing the insolvency process, shows that a sale of the lodge and associated assets raised $1.2 million…
Arrowood Indemnity, the runoff entity for Royal Indemnity and Royal Globe (Royal), was declared insolvent by the Delaware commissioner of insurance on November 6, 2023. This action was taken through the filing of a complaint for entry of a liquidation and injunction order with a bar date. The commissioner has suggested a bar date of…
Customers of a Perth bridal shop have been left scrambling to find another wedding dress, losing thousands of dollars in deposits, after the owner announced the store’s sudden closure. The owner of North Perth boutique NOA Bridal announced to her brides on Tuesday she would “no longer be able to fulfil its obligation to deliver”…
Notably, the NCLAT had earlier closed insolvency proceedings against Byju’s after it accepted a settlement between the ed-tech firm and the Board of Control for Cricket in India (BCCI). Before the Supreme Court, the BCCI’s counsel too urged the Court to stay the CoC’s operations. “Let meeting of COC be deferred or stayed.. How can…
The Supreme Court on Thursday (August 22) refused to stay the meeting of the Committee of Creditors formed by the Resolution Professional in relation to the insolvency resolution of ed-tech firm Byju’s. Although Senior Advocate Dr Abhishek Manu Singhvi (for Byjus) and Solicitor General of India Tushar Mehta (for the BCCI) made fervent and repeated…