Solar 21 subsidiary could be declared insolvent before central asset is sold to pay off investors – MSN
Solar 21 subsidiary could be declared insolvent before central asset is sold to pay off investors MSN Read the original article here
M&E specialist J S Wright files administration notice
Both firms operate out of headquarters in Birmingham and offices in Bristol and London employing around 160 staff. The business switched to employee ownership in October 2021 but subsequently has struggled with rampant cost inflation and project delays as well as a broader slowdown in the market. This impacted liquidity with…
Meet man whose airline went bankrupt, still has Rs 43894 crore net worth, he is…
He earned Rs 1141 crore in September 2024 after selling a 10-acre parcel in Mumbai. Several Indian business persons try to expand their business empires by venturing into different spaces. Sometimes, the idea works and they become more rich. However, sometimes it doesn’t work at all. Many Indian billionaires have to declare their companies bankrupt…
Croydon Council asks for £136m government bailout
A south London council is seeking a £136m bailout from the government after revealing a £35m overspend this year. Croydon Council faces a projected £98m shortfall in its budget for the upcoming financial year and is struggling to balance its finances despite a year of public service cuts and council tax increases. The Conservative-led council…
IMF says Sri Lanka’s economic recovery shows signs of improvement but challenges remain
COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund said Friday. The Indian Ocean island nation declared bankruptcy in April 2022 and said it was suspending repayment of its foreign debt. It reached an agreement…
Prospect Medical Holdings files for bankruptcy
Listen to the article 5 min This audio is auto-generated. Please let us know if you have feedback. California-based Prospect Medical Holdings filed for Chapter 11 bankruptcy on Saturday in the U.S. Bankruptcy Court for the Northern District of Texas, following years of financial difficulties and escalating pressure from state and federal regulators over its…
Peter Kwee could be sued over Laguna club’s financials: liquidators www.singaporelawwatch.sg
Source: Business Times Article Date: 05 Feb 2025 Author: Tay Peck Gek This comes after liquidators Cameron Duncan and David Kim got court sanction on an agreement to secure litigation funding. The liquidators of the insolvent Laguna National Golf…
Millions to Messado | Lead Stories
An ex-banker who provided over $20 million in loans to eight companies and individuals through agreements crafted by his then attorney Jennifer Messado has been ordered by the Supreme Court to return over $12 million he collected as interest to the estate of the now bankrupt ex-attorney. The order was made last month by a…
NCLAT orders NCLT to decide on BCCI-Byju’s settlement within a week
The National Company Law Appellate Tribunal (NCLAT) has ordered the National Company Law Tribunal (NCLT) to decide within a week whether the Board of Control for Cricket in India (BCCI) can withdraw its insolvency case against Byju’s. The NCLAT gave this order while dismissing an appeal filed by Riju Raveendran, who challenged the reinstatement of…
Delhi HC sets aside money laundering case against Bhushan Power and Steel, ET LegalWorld
The Delhi High Court has set aside the money laundering proceedings against erstwhile Bhushan Power and Steel Ltd. Justice Manmeet P S Arora, while dealing with a petition by BPSL, observed after having undergone a successful resolution process under the Insolvency and Bankruptcy Code, the company — now taken over by JSW Steel — should…