In a dramatic turn of events, approximately 60 subsidiaries of business process automation firm Exela Technologies Inc. have filed for Chapter 11 bankruptcy in Texas, weighed down by a staggering $1.3 billion in debt. The move, which follows years of financial turbulence, includes a prearranged restructuring plan designed to stabilize the company’s operations and navigate…
CCI Approves JSW Energys Acquisition Of KSK Mahanadi Power Company NDTV Profit Read the original article here
Infinexa, a Romanian entrepreneurial company specializing in the restructuring and financing of distressed businesses, managing assets worth over EUR 155 million, announces that in 2024, Hidroconstrucția, a company undergoing insolvency proceedings, distributed over EUR 16 million to its creditors. Of this amount, EUR 10.7 million came from asset sales, while EUR 5.3 million was generated…
Elon Musk grabbed center stage at the first Cabinet meeting of President Donald Trump’s second term — despite not heading an actual Cabinet department — saying “America will go bankrupt” without his budget-slashing efforts. Wearing a black MAGA cap and “Tech Support” T-shirt, the billionaire first buddy told the president and assembled agency leaders that…
Indonesia textiles giant Sritex in talks with investors to lease assets following bankruptcy Reuters Read the original article here
Zomato, the online food delivery platform announced a consolidated profit of Rs 36 crore for the second quarter ending in September 2023, propelled by robust growth in its revenue. In the same quarter of the previous financial year, the company had posted a loss of Rs 251 crore. During the current quarter, the revenue from…
Lucknow: In 2008, Ajay Verma and his two relatives had invested Rs 1 crore to buy three flats in Sushant Golf City. Even after a long and agonising wait of 16 years, none of them got the flats. The officials of Ansal API — the developer handing the Sushant Golf City project — kept giving…
Hong Kong actor Vinci Wong has been declared bankrupt by the city’s High Court. Judge Jack Wong Kin-tong made the order against the 54-year-old on Tuesday (March 3), where the debtor was absent from the hearing. Wong, who served as the chairman of Tung Wah Group of Hospitals in 2018 and 2019, filed for bankruptcy in…
TEMPO.CO, Jakarta – Indonesia’s troubled textile firm PT Sri Rejeki Isman, or Sritex, is in talks with potential investors to take over assets under a lease scheme, the company’s curator said on Monday. Sritex was declared bankrupt at the end of last year as it struggled to service its debts, which reached $1.6 billion in June.…
Coffee Day Enterprises stock soared 20% for the second consecutive day after the National Company Law Appellate Tribunal (NCLAT) overturned insolvency proceedings against the company. New Delhi, Mar 4 (PTI) Shares of Coffee Day Enterprises, parent company of Coffee Day chains, soared 20 per cent on the bourses for the second straight day on Tuesday…