Ravn is bankrupt and selling off assets, but still wants to give chief executive a bonus – Alaska Public Media News

A RavnAir Group Dash-8 plane sits on the tarmac at Anchorages international airport. (Ravn Alaska) Alaskas largest rural airline has declared bankruptcy, laid off more than 1,000 workers and is selling off its assets. But the company still wants to split $250,000 in bonuses between its highly-paid chief executive and other employees. In a filing…

$13m owed: Ferrari-driving businessman declares bankruptcy – Queensland Times

A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…

UK’s new insolvency process should worry company creditors around the world – The Conversation United Kingdom

Virgin Atlantics rescue deal is something of a watershed in how companies can escape insolvency. The deal, which will involve Richard Branson and US hedge fund Davidson Kempner Capital Management injecting US$1.6 billion (1.2 billion) into the airline, uses the new restructuring plans made possible by the UK Corporate Insolvency and Governance Act 2020. While…

Three vie for Serbia’s insolvent Jugoremedija – report – SeeNews

BELGRADE (Serbia), August 12(SeeNews) – The board of directors of Serbia’sJugoremedija has received three bids for the purchase of the insolvent pharmaceutical company’s assets, local media reported on Wednesday. The bids were placed by Czech Republic-based APS Capital Group’s subsidiary Project One, Turkey’s Birgim, and an unnamed Belgrade-based company,Tanjug news agency quoted the bankruptcy administrator…

$13m owed: Ferrari-driving businessman declares bankruptcy – Noosa News

A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…

US bankruptcies are on track to hit a 10-year high as the coronavirus pandemic continues to slam businesses – Business Insider

US bankruptcies are on track to hit a 10-year high as the coronavirus pandemic recession continues to slam businesses, according to a Monday report from S&P Global. This year, 424 companies have gone bankrupt through August 9, surpassing the number of filings during any period since 2010, according to the report. Consumer-focused companies such as…

US bankruptcies are on track to hit a 10-year high as the coronavirus pandemic continues to slam businesses – Business Insider Australia

US bankruptcies are on track to hit a 10-year high as the coronavirus pandemic recession continues to slam businesses, according to a Monday report from S&P Global. This year, 424 companies have gone bankrupt through August 9, surpassing the number of filings during any period since 2010, according to the report. Consumer-focused companies such as…