TORONTO Electrovaya Inc. says its Litarion subsidiary in Germany has begun insolvency proceedings as a result of a cash shortage that arose after its automotive customers took longer than expected to place large battery orders. Mississauga, Ont.,-based Electrovaya says it doesnt expect Litarions insolvency will affect the parent companys ability to fulfil current and future…
TORONTO Electrovaya Inc. says its Litarion subsidiary in Germany has begun insolvency proceedings as a result of a cash shortage that arose after its automotive customers took longer than expected to place large battery orders. Mississauga, Ont.,-based Electrovaya says it doesn’t expect Litarion’s insolvency will affect the parent company’s ability to fulfil current and future customer orders…
Experts have warned that the retail industry is on high alert following the release of 2017 insolvency figures, which revealed rising liquidation rates. According to The Insolvency Service, 17,243 companies entered insolvency in 2017, rising 4.2 per cent year-on-year. This was driven by an 8.3 per cent rise in creditors voluntary liquidations (CLVs) in which…
The number of people becoming financially insolvent reached a three-year high across England and Wales during 2017, official figures show. Some 99,196 personal insolvencies were recorded, marking a 9.4% rise on 2016 and the highest annual total since 2014, when there were 99,223 cases. It marked the second year in a row that the numbers have…
Electrovayas German subsidiary, Litarion GmbH, has commenced a voluntary structured insolvency process. The process is expected to result in the appointment of a provisional receiver/liquidator of Litarion and its property by the German court, a press release reads. As previously reported by the company, Li-Tec Battery GmbH, the owner of the premises occupied by Litarion,…
Image copyright Getty Images The number of people who became insolvent jumped by 9.4% in 2017 – the second year running that figures rose. In total, 99,196 individuals were declared insolvent in England and Wales, up from 90,657 in 2016. The Insolvency Service said the figures had returned to levels last seen in 2013 and…
By Press Association Published: 21:03 AEDT, 26 January 2018 | Updated: 21:03 AEDT, 26 January 2018 e-mail The number of people becoming financially insolvent reached a three-year high across England and Wales during 2017, official figures show. Some 99,196 personal insolvencies were recorded, marking a 9.4% rise on 2016 and the highest annual total since 2014,…
A SUNSHINE Coast businessman fined almost $230,000 for the “appalling” exploitation of foreign workers may be shut down by the Federal Government. Emmanuel Bani and his company, Maroochy Sunshine Pty Ltd, were fined in March last year after the Federal Circuit Court found workers from Vanuatu had been lured to Australia and then deprived of…
London – Boris Becker won six Grand Slams during a glittering career but even those treasured trophies are fair game as insolvency practitioners responsible for handling his bankruptcy try to track them down to pay his creditors. The German took the tennis world by storm when as a red-headed 17-year-old he became the then youngest-ever…
TORONTO, ONTARIO–(Marketwired – Jan. 25, 2018) – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL)(OTCQX:EFLVF) today announces that its wholly-owned German subsidiary, Litarion GmbH (“Litarion”), has commenced a voluntary structured insolvency process that is expected to result in the appointment of a provisional receiver/liquidator of Litarion and its property by the German court. As reported in…