The city council of Birmingham, located in the country’s midlands, was slammed with a ginormous equal-pay claim worth up to £760 million ($955 million), following which it said the council had “insufficient resources” to make those payments. As a result, the council was forced to make drastic cost cuts, resulting in the sacking of 600…
A local authority that is effectively bankrupt needs to borrow £206.7m from the government to balance its 2023-24 budget, a report revealed. Thurrock Council had initially planned to borrow £180.2m but a provisional financial outturn report suggested an extra £26m was needed. The government appointed commissioners to oversee the council after a series of bad…
Katie Price‘s former home has been bought just a week after it appeared on the market, according to The Sun. The former glamour model moved out of her mansion in May after being handed an “eviction notice.” The reality TV star, who was previously declared bankrupt in 2019, moved into her £2 million mansion in…
When Tommy Robinson first entered the national consciousness, it was as an angry young man leading a group of football fans onto the streets of Luton to clash with Islamist activists disrupting a homecoming parade of soldiers returning from Afghanistan. Fifteen years on and while the message and the rage remain, plenty has changed. As…
Dutch e-bike maker VanMoof declared bankrupt Reuters Read the original article here
ASIC’s annual insolvency data shows more than 11,000 companies entered external administration for the first time in 2023-24. While this is slightly higher than prior peaks seen in 2011–12 and 2012–13, it is proportionately smaller as there are now nearly 3.4 million companies in Australia compared to around two million in 2012. The current ratio…
In short: A liquidator says the business My Tiny Home Kit had no real prospect of actually delivering homes and may have been trading while insolvent. The company owes customers more than $3.4 million, according to initial estimates. What’s next? The liquidator says further investigation into the business is required. There is also an ongoing…
Beijing — Chinese police have opened an investigation into Zhongzhi Enterprise Group after the debt-ridden financial giant declared itself insolvent. Police in Beijing, where the group is headquartered, said late Saturday they had opened an investigation into unspecified “alleged offenses,” adding that they had taken measures against several suspects. Zhongzhi declared itself insolvent Wednesday with…
Bandai Namco Online declares bankruptcy Softonic EN Read the original article here
A bank in Sac City was declared insolvent and closed at the end of last week. According to a press release by the Iowa Division of Banking, Citizens Bank in Sac City was closed on Friday. It’s the first bank closure in Iowa in 12 years. The bank was declared insolvent after bank examiners identified…