FRANKFURT—The group of investors seeking to take over electric aircraft manufacturer Lilium plans to invest more than €200 million ($205 million) into the insolvent company. Mobile Uplift Corporation (MUC) also said in a statement Jan. 2 that it expects the transaction to close “in the first quarter.” The group, led by Munich-based private equity firm…
Forward AM has closed down its operations in the United States as it continues to move through insolvency proceedings. According to a LinkedIn post published by Business Development Manager Jeremy Vos, the company plans to serve the US market from its headquarters in Germany for the foreseeable future. The company may seek to relaunch operations…
Nuvoco Vistas Corp, a key producer of cement in East India, has emerged as the successful applicant to buy Vadraj Cement under the Corporate Insolvency Resolution Process. Gujarat-based Vadraj Cement, formerly owned by ABG Shipyard, has a 6 million tonne grinding unit in Surat and will add to Nuvoco Vistas’ existing production capacity of 25…
A crafting company founded by Sara Davies, the entrepreneur and Dragons’ Den panellist, is set to appoint administrators as part of a pre-pack insolvency of the business. Crafter’s Companion, which Davies, 40, turned from a start-up in her university bedroom into an international seller of paper craft, art and sewing products, is preparing to appoint…
Former Socceroos captain declared bankrupt The New Daily Read the original article here
Volocopter GmbH filed an application for the opening of insolvency proceedings at the Karlsruhe Local Court on Dec. 26, 2024. The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, partner, and attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator. Volocopter is a pioneer of urban air mobility (UAM),…
Nuvoco Vistas Corp. Ltd., India’s fifth-largest cement group and a leading player in East India, has emerged as the SRA of Vadraj Cement Limited (VCL), currently undergoing Corporate Insolvency Resolution Process. The Resolution Plan submitted by Nuvoco has been approved by the Committee of Creditors (‘CoC’), and a Letter of Intent (LOI) has been issued.…
The insolvency rate remains below the 20-year running average, with considerably less insolvencies last year than was expected. While there were 852 insolvencies in 2024 – an increase of 16% – this was below the expected number of 900. On Newstalk Breakfast, spokesperson for professional services firm PwC Ken Tyrrell said that while the overall…
The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, Partner and Attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator. Volocopter develops all-electric vertical takeoff and landing (eVTOL) aircraft. Founded in 2011, the startup company is nearing the finish line to obtain aircraft type certification and launch its urban…
Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…