Synopsis In 2018, Adani Group faced a setback when it lost the bid for Ruchi Soya to Patanjali amid allegations of conflict of interest. Cut to 2024, Adani Group has made over a dozen acquisitions under the Insolvency and Bankruptcy Code (IBC), strengthening its leadership across various sectors. By strategically acquiring distressed assets such as…
PA Media Nottingham City Council made the announcement on Wednesday Nottingham City Council has declared itself effectively bankrupt, meaning it will stop all spending other than services it must provide by law. A recent report said the Labour-run council was set for a £23m overspend in the 2023-24 financial year. The council’s chief finance officer…
Why are local authorities going ‘bankrupt’? Commons Library Read the original article here
Nicole Tyson, counsel for Kingston’s trustee in bankruptcy, told the Federal Court last week that Kingston had further bank accounts and, potentially, assets in Hong Kong that required investigations to learn more about his financial position. The court heard the $151 million provided to the Sargon-associated company by the Chinese financier appeared to have been…
David Meldrum: warning Company directors are being urged to avoid engaging rogue unlicensed insolvency advisers or risk severe financial penalties, being struck off as a director or at worst, a prison sentence, warns an accountancy firm. “It is very concerning that some directors are engaging the services of unlicensed advisers, often in the belief that…
Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe’s property crash. Controlled by Austrian magnate Rene Benko, the group is an owner of New York’s Chrysler Building as well as several high-profile projects and department stores across Germany, Austria and…
EV charging firm Tritium appoints administrators Energy Source & Distribution Read the original article here
It’s still not clear how Juste Pour Rire / Just for Laughs (JPR/JFL) went from one of the biggest comedy festivals in the world to bankruptcy. On April 12, La Presse reported the festival lost $800,000 in an email phishing scheme in 2023. This is just the latest detail emerging after Groupe Juste pour rire…
China’s property sector has been grappling with a liquidity crisis since mid-2021, with major developers defaulting on or delaying debt payments following a regulatory crackdown on high leverage. 04:49 Anger mounts as China’s property debt crisis leaves flats unfinished Anger mounts as China’s property debt crisis leaves flats unfinished Industry giant China Evergrande Group was…
Model and TV presenter Katie Price has been declared bankrupt for the second time, a court heard today. Price was married to Australian singer Peter Andre between 2005 and 2009 and they have two children together. The UK glamour model, 45, who was not in court to hear her fate, has an unpaid tax bill…