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Category Archives: Bankruptcy

Former cryptocurrency agency chief declared bankrupt as investors wait for millions – News24

BankruptcyBy Insolvency GuardianJuly 6, 2020

Willie Breedt, CEO of VaultAge Solutions, who is alleged to have scammed bitcoin investors out of millions. Supplied Willie Breedt is accused of going on the run after allegedly failing to repay the money investors had paid him. Around 2 000 investors put an estimated R227 million into Breedt’s VaultAge Solutions to invest in bitcoin…

Boris Becker Made $130 Million in His Career, but He Still Went Bankrupt and Racked Up a “Historic” Debt – Sportscasting

BankruptcyBy Insolvency GuardianJuly 5, 2020

Boris Becker was a tennis phenom in the 1980s and 1990s. The former world No. 1 won 49 titles, six Grand Slams, and an Olympic gold medal during his pro career. Over the course of his career, Becker made $25 million in prize money and $130 million in total earnings. Despite his massive riches from…

Former company behind Leyland’s Withy Arms fined £25,000 over unfair sacking – Accrington Observer

BankruptcyBy Insolvency GuardianJuly 3, 2020

The former company behind a Lancashire pub has been ordered to pay more than 25,000 after it was found it unfairly sacked one of its employees. Leyland Park Ltd, which had been trading as the Withy Arms Leyland up until June 2019, has been told to pay up 25,567.46 after former company employee John Travill…

Royal Albert Hall will go bust by 2021 without urgent funds, says chief exec – Radio X

BankruptcyBy Insolvency GuardianJuly 3, 2020

3 July 2020, 14:57 | Updated: 3 July 2020, 14:58 Chief executive Craig Hassall has warned the history venue is in grave danger. Picture: Kevin Nixon/Classic Rock Magazine/Future via Getty Images According to reports, the iconic venue will run out of funds by its 150th anniversary in March 2021 if action isn’t taken. The Royal…

How did billionaire Lakshmi Mittal’s brother Pramod go bankrupt? – Evening Standard

BankruptcyBy Insolvency GuardianJuly 3, 2020

The hottest luxury and A List news When it comes to Londons richest men, they dont come much wealthier than Lakshmi Mittal. With a fortune estimated at nearly 7 billion, the gods have been smiling on the tycoon who built his riches buying and building steel factories around the world. Indeed, when he was born…

Gadfly: Jackson thrives – The Saturday Paper

BankruptcyBy Insolvency GuardianJuly 3, 2020

Wheres Kathy Jackson when you need her during a pandemic? Its a cry Gadfly hears frequently as he gallivants around a boarded-up nation, so its timely to present a handy updated guide to events. Kathy was the national secretary of the Health Services Union of Australia, the outfit that represents a massive number of people…

Royal Albert Hall will go bust by next year without urgent financial support – NME

BankruptcyBy Insolvency GuardianJuly 2, 2020

TheRoyal Albert Hall will go bust by March next year if it doesnt receive urgent financial support, the iconic venues chief executive has warned. The West London venue, which was the busiest live music venue in the world last year, has lost 12m after closing its doors for more than 100 days due to coronavirus.…

How Rick Blangiardi Got Caught Up In A 1980s Bank Fraud Scheme – Honolulu Civil Beat

BankruptcyBy Insolvency GuardianJuly 2, 2020

Decades before Rick Blangiardi began his run for Honolulu mayor, he took part in financial schemes in Hawaii and Kansas that led him to file for bankruptcy and landed the scams ringleaders behind bars. The former television executives involvement got the attention of the Federal Deposit Insurance Corp., or FDIC, which sued him and others…

31 bankruptcies in week 26 – Statistics Netherlands

BankruptcyBy Insolvency GuardianJuly 2, 2020

Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 30 bankruptcies in week 26. This is 43 down on the previous week. In addition, 1 sole proprietorship was declared…

Corporate Insolvency and Governance Act | Akin Gump Strauss Hauer & Feld LLP – JD Supra

BankruptcyBy Insolvency GuardianJuly 2, 2020

The Corporate Insolvency and Governance Act (the Act) received Royal Assent on 25 June 2020 and is now in force. As anticipated in our client alert of 26 May 2020, the Act represents the most extensive changes in the insolvency landscape since the Enterprise Act came into force in 2003. The provisions of the Act…

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