NCLT Admits Aviom India Housing Finance Into Insolvency On RBI’s Petition – BW Legal World
NCLT Admits Aviom India Housing Finance Into Insolvency On RBI’s Petition BW Legal World Read the original article here
«Tesla among the trucks» worth $27 billion went bankrupt
Nikola has officially filed for bankruptcy and plans to sell off its assets. This is another victim of the unstable electric vehicle market, where startups face low demand, financial difficulties, and rapid spending. Nikola has had a difficult journey, including numerous management changes, a falling stock price, and accusations from stock market… Read the original…
NCLT admits Aviom India Housing Finance into bankruptcy on RBI’s plea
The Delhi insolvency court on Thursday admitted Aviom India Housing Finance Pvt. Ltd into bankruptcy and liquidation proceedings following a plea by the Reserve Bank of India (RBI). RBI had moved the National Company Law Tribunal (NCLT) under the Financial Service Providers (FSP) Insolvency Rules, 2019, leading to an interim moratorium that restricts legal proceedings,…
One of South Africa’s biggest companies technically insolvent – BusinessTech
One of South Africa’s biggest companies technically insolvent BusinessTech Read the original article here
US Will Be Bankrupt If Spending Not Fixed: Musk – WE News English
US Will Be Bankrupt If Spending Not Fixed: Musk WE News English Read the original article here
How Gemini clients made a killing going bankrupt – DL News
Gemini says lending programme creditors will get back a 232% return on their investments. The money comes partly from sales of GBTC shares. Bankrupt crypto lender Gemini announced on Wednesday that its Earn customers will recover more than $940 million in crypto — more than triple what they lost when the firm shuttered the lending…
Joann files for bankruptcy — again
New York CNN — Joann, the fabrics and crafts retailer, has filed for bankruptcy for a second time within a year and announced that it’s seeking a sale. The 82-year-old retailer said in statement Wednesday that sluggish sales and inventory issues forced Joann to file for Chapter 11 again. Joann first filed for bankruptcy in…
Nikola goes bankrupt amid cash burn, files for Chapter 11 bankruptcy protection; EV maker stock crashes to all-time low
Nikola said on Wednesday, February 19, it had filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets, the latest electric-vehicle (EV) maker to go bankrupt after grappling with tepid demand, rapid cash burn and funding challenges. In recent years, the EV truck maker has endured cash-flow issues, slow demand, short-seller…
Battle of the insolvency provisions: Which law governs insolvency of insurance companies?
The matter of Salesio Kinyua Njagi and Nine Others v Invesco Assurance Company Limited [2021] (eKLR) dealt with the application of the law around the insolvency of insurance companies. Public interest is of great concern to the insurance industry, necessitating its consideration when filing liquidation proceedings against such companies. It is imperative to have clarity on…
Hospitality insolvencies continue to fall down 7% year-on-year and 31% month-on-month
This week’s company insolvency statistics show accommodation and food services insolvencies were down 7% year-on-year from 3,737 in 2023 to 3,464 in 2024, and fell 29% when compared to the same month in the previous year (315). Insolvencies in the sector saw an even bigger drop month-on-month, down 31% from 327 in November 2024 to…