Sankaet Pathak is the founder of Synapse, which filed for bankruptcy. A banking-as-a-service middleware platform’s slide into bankruptcy is another sign of trouble for this business model, where software providers connect licensed banks and nonbank companies that want to take deposits and extend loans — and sometimes promise to offload part of the compliance burden. …
On May 31, Hirschmann Multimedia Holding B.V. filed for provisional suspension of payments, which has now been converted into bankruptcy. According to CEO Dick Kroon, the bankruptcy of Hirschmann Multimedia Holding B.V. and the adjacent Hirschmann Multimedia B.V. is due to the failure of a desired settlement payment arrangement with the tax authorities. While this…
The National Company Law Appellate Tribunal (NCLAT) in Chennai on Wednesday stayed the corporate insolvency resolution proceedings (CIRP) against Coffee Day Enterprises Ltd (CDEL), operator of the Cafe Coffee Day chain, until the next hearing, reported Bar and Bench. A coram of judicial Member Sharad Kumar Sharma and Technical Member Jatindranath Swain granted an interim…
Her comments come after a recent Centrix report showed consumer arrears rose to a seven-year high in January, with 13.09 per cent of accounts behind on repayments. It said 480,000 credit users nationwide were behind on payments. In the Bay of Plenty, 14.09 per cent of users were behind on payments, compared to 12.79 per…
In short: The second-largest city in the United Kingdom is in heavy debt, with childhood poverty near 50 per cent. The city is turning out street lights at night and only collecting garbage fortnightly to save money. What’s next? The UK heads to the polls on July 4 as Rishi Sunak’s Conservative Party faces a…
BENGALURU: In a setback for Byju’s, the Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal’s (NCLAT) order that approved the settlement between the edtech firm and the BCCI. Byju’s US-based lenders had approached the Supreme Court and now insolvency proceedings against the company have been revived. A bench led by Chief Justice…
Key Points Bankruptcy lasts for three years but the consequences can last much longer. Bankruptcy won’t release you from all your debts. Always seek the advice of a financial counsellor. Bankruptcy is a legal process that helps you regain financial control by releasing you from most of your debts. It allows you to start fresh.…
The JetAir website is now dominated by a bankruptcy notice. Credit: jetaircaribbean.com United Caribbean Airlines, which operated under the name JetAir Caribbean, has been declared bankrupt by the courts in Curaçao, the island in the Dutch… Read the original article here
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), which operates Cafe Coffee Day chain, till next date of hearing. Passing an interim order, the Chennai-based bench of the appellate tribunal stayed the operations of the NCLT order. NCLAT also directed the financial…
SINGAPORE – Electric van leasing company EVCo has been put under insolvent liquidation, with debts of almost $50 million. EVCo, also known as Strides DST, is 60 per cent owned by transport operator SMRT’s business arm Strides Holdings and 40 per cent by Dishangtie Green Technology (Hong Kong). The two-year-old firm was incorporated in March…