Atlasglobal, a prominent Turkish airline, declared bankruptcy in June 2021, officially confirmed by the Supreme Court. While this development marks the end of a significant chapter in Türkiye’s aviation industry, the process has been marked by numerous legal developments and appeals. Legal proceedings Initial bankruptcy declaration (June 2021): On June 17, 2021, the Bakirkoy 3rd…
Once valued at $1.2 billion, the “digital nomads” lifestyle brand will be delisted from the Nasdaq. LONDON – The Board of Directors of Selina Hospitality filed a statement with the Securities Exchange Commission on Monday stating the company no longer has any reasonable prospects of avoiding an insolvency. The company that has lost almost all…
Company insolvencies up 16% on July last year as cost hikes continue to bite The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data. In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July…
In response to growing concerns about the company’s insolvency, Byju Raveendran, the Founder of the cash-strapped edtech company BYJU’S, informed employees in an email that their July salaries would be paid once he regains control of the business. In recent months, the struggling business has repeatedly delayed paying employees their wages. The business claims to…
Indian ed-tech giant Byju’s faces total shutdown if insolvency proceeds, CEO says Reuters Read the original article here
LONDON (AP) — German tennis legend Boris Becker was discharged from bankruptcy court in London after a judge found Wednesday he had done “all that he reasonably could do” to repay creditors tens of millions of pounds. Becker fell far short of repaying his creditors nearly 50 million pounds ($62.5 million) he owed, but Chief…
A judge ruled today that Katie Price’s TikTok income will be suspended. This decision is part of the ongoing efforts to recover the money she owes due to two previous bankruptcies. This decision arises as Price is currently involved in a dispute with HMRC regarding £760,000 of unpaid tax. Today’s hearing occurred only a week…
All the ways Katie Price makes money amid bankruptcy. (Getty) (PA Wire – PA Images via Getty Images) How does Katie Price make money amid her bankruptcy? Once estimated to be worth £40m, the former glamour model has been declared bankrupt for the second time earlier this year in March over an unpaid tax bill…
The involuntary bankruptcy threshold will lift from $10,000 to $20,000, Attorney-General Mark Dreyfus says, giving debtors more breathing room before their creditors can launch court action. On Monday, Attorney-General Dreyfus said the federal government will introduce a suite of reforms to the bankruptcy system, bringing it up to speed with the contemporary economic landscape. In…
The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data. In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023. The figures included 320 compulsory liquidations – when a company is forced to…