Category Archives: Bankruptcy

Germany unit of Canadian lithium battery company Electrovaya declares insolvency – TheChronicleHerald.ca

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…

Retail sector on high alert as company insolvency rates – Retail Gazette (blog)

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…

Personal insolvencies across England and Wales reach three-year high – AOL UK

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…

Litarion GmbH initiates insolvency proceedings – evertiq.com

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,…

Personal insolvencies rise for the second year running – BBC News

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…

Personal insolvencies across England and Wales reach three-year high – Daily Mail

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,…

Coast company fined over worker exploitation faces shutdown – The Sunshine Coast Daily

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…

Bankrupt Becker’s trophies are fair game – Sport24

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…

Electrovaya Announces Structured Insolvency Proceedings at Litarion GmbH – Marketwired (press release)

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…

Bankrupt man, 57, ‘froze to death’ outside the £300000 home he was evicted from after paramedics took 16 hours to … – Daily Mail

Anthony Barnard was found dead outside the detached property he once owned The 57-year-old lost his £300,000 home after being declared bankrupt in 2017  Temperatures on the night Mr Barnard was outside dipped to between -1C to -3C By Rod Ardehali For Mailonline Published: 08:51 AEDT, 26 January 2018 | Updated: 08:51 AEDT, 26 January…