Why the council went bust

Fergus Hewison & Adrian Goldberg BBC File on 4 BBC The GMB union claims it has found evidence the council was not properly implementing a crucial job evaluation scheme A deal that would have settled Birmingham’s huge equal pay claims without “bankrupting” the council fell apart after trade unions found members were still suffering discrimination.…

Tajprombank officially declared insolvent – Asia Plus

One of troubled banks that have been experiencing serious liquidity issues since 2015 — Tajprombank – has officially been declared bankrupt.  “The bankruptcy decision of this financial institution was made by the Dushanbe Economic Court on August 1, this year,” Rustam Mirzozoda, the head of the High Economic Court of Tajikistan, told reporters in Dushanbe…

Dutch e-bike brand VanMoof is bankrupt

VanMoof has been declared insolvent. According to the latest report by The Verge, the court in Amsterdam has withdrawn the so-called suspension of payments order and said the e-bike brand is bankrupt in what appears a rather abrupt manner. The news comes only days after the first reports of VanMoof facing severe difficulties appeared. Insolvency…

What Happens When a Country Goes Broke

A combination of multiple shocks—chief among them the COVID-19 pandemic and increased interest rates—has left over 50 lower- and middle-income countries in “debt distress,” according to the UN: struggling to repay money borrowed to fund vital projects, or to import food and other essentials. If debt repayments become impossible, a government typically has to “declare…

German footwear manufacturer EOD declares insolvency

The company, known for the Groundies shoe brand, has filed for insolvency proceedings with the Freiburg District Court with the aim of restructuring itself to get back “on solid ground” The court has appointed lawyer Dr Dirk Pehl from the law firm Schultze & Braun as the preliminary insolvency administrator. This procedure’s aim is to…