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…
A year after its relaunch, Scotch & Soda is once again in bankruptcy. Shops will remain open, however, and the brand is expected to resume trading under new ownership within two weeks. Already a new candidate The European part of Dutch fashion brand Scotch & Soda has been declared bankrupt. The news comes just one…
Former glamour model Katie Price has been declared bankrupt for a second time over an unpaid tax bill of more than £750,000. Ms Price, who was previously declared bankrupt in 2019, owes £761,994.05 to HM Revenue and Customs (HMRC), a court was told on Monday. At a short hearing at London’s Rolls Building, Insolvency and…
Sudbury MP Viviane Lapointe said Tuesday evening that the fall economic statement includes plans to change the legislation that allowed Laurentian University to declare insolvency. LU used the Companies’ Creditors Arrangement Act (CCAA) to declare insolvency in February 2021, leading to layoffs, program cuts and the end of its agreement with federated universities.…
Volocopter CEO Dirk Hoke recently told German media that the eVTOL developer may need to look at insolvency options, after the company failed to secure loans from the Baden-Württemberg and Bavarian states to support its electric aircraft development. “Volocopter has been transparent that the fundraising market has been difficult in the past few years,” Hoke…
NCLAT Fortnightly: Important orders on IBC (July 1 – July 15, 2024) Bar & Bench – Indian Legal News Read the original article here
Set-Off Under IBC Regime BW Legal World Read the original article here
Calypso Destinations fell over with $2.3 million in unsecured creditors including Tyler himself, who is listed as claiming $924,000 in “loans to the company” that he made. The liquidator’s report said Tyler may have a defence against insolvent trading claims because of advances made to the company that were under continuing investigation. Tyler declined to…
European tour operator FTI Touristik has filed for insolvency at a court in Munich, Germany. The company, one of the largest tour operators in Europe, said the FTI Touristik brand is directly affected but that insolvency filings will follow for other group companies. Windrose Finest Travel will continue operations. The news comes weeks after FTI…