Freighter operator Cargologic Germany (CLG) has been declared insolvent after it was banned from European airspace in March, reports Oliver Link of Air Cargo News sister title DVZ. The District Court of Leipzig has appointed the lawyer Lucas F. Flöther as the provisional insolvency administrator. The insolvency of the airline, which went into operation in…
By NEIL SEARS Published: 06:06 AEDT, 8 January 2025 | Updated: 06:13 AEDT, 8 January 2025 Is this an unpaid tax bill I see before me? In the case of award-winning actress Cush Jumbo, 39, it certainly is. And a bankruptcy threat looms. The acclaimed performer, who last year appeared as Lady Macbeth alongside David…
Semiconductor producer BelGaN has filed for bankruptcy. The company, based in Oudenaarde, East Flanders, employs 440 people. BelGaN switched its production from traditional silicon chips to gallium nitride chips, which can be used in electric chargers, electric cars and data centres. “To finance the significant investments associated with this transition process, after the initial investment…
Three Russian companies founded by Alexander Lyskovsky, including LLC “Gorodskie Teplytsy,” LLC “Gorodskie Teplytsy Moskva,” and LLC “Vertikalnye Fermy,” have announced plans to file for bankruptcy. According to investor Mikhail Taver, Lyskovsky failed to fulfill his duties as CEO and refused to…
Previously, Tupperware’s US headquarters had made no comment about the company’s Belgian sites. At the end of last year, the licences to manufacture and sell Tupperware products were withdrawn from the company’s Aalst (East Flanders) factory. This meant that the factory could no longer operate. However, management at Tupperware Belgium was given no further information…
Rum-based chocolate liqueur Tobago Gold has filed for bankruptcy. The brand filed for bankruptcy in November 2024 Founded by Lars Söderström, Tobago Gold is a chocolate rum liqueur made with Caribbean spices. It is bottled at 17% ABV. The brand, registered in the Netherlands, was declared bankrupt on 12 November 2024, official documents show. According…
Introduction In a recent judgment delivered by the Supreme Court of India,1 it has been reaffirmed that the Insolvency and Bankruptcy Code, 20162 (IBC/Code) is a complete Code in itself, having sufficient checks and balances, and thus, the exercise of supervisory jurisdiction and judicial review by the High Courts should only be exercised in exceptional and…
The owner of a Lincolnshire car wash has been banned from running a company for five years after employing illegal workers. Mohamed Hamza, 34, of Granville Road, Peterborough, hired the workers from Syria and Egypt to work at M&H Car Wash on Enterprise Way in Pinchbeck, near Spalding. The business was fined £20,000 after the…
The Court also analysed a series of judgments on Section 32A of IBC. “The intention of the provision is to discover in such cases as to who are the real individuals or entities who are acting jointly or in concert and who have set up such a corporate vehicle for the purpose of submission of…
Five Football Stars Who Shockingly Went Bankrupt After Retirement FootBoom Read the original article here