The city centre of Birmingham. [Photo/VCG] Fears grow over fate of more councils after Birmingham files for insolvency Local governments in the United Kingdom went into panic mode on Wednesday after Birmingham City Council effectively declared itself bankrupt. Authorities warned that more councils across the UK could declare themselves in financial dire straits. Birmingham City…
KNP Logistics, described by its administrators as one of the United Kingdom’s largest privately owned logistics groups, declared itself insolvent on Monday, blaming a ransomware attack back in June. Approximately 730 employees will be made redundant as a result of the administration process, although one of the group’s key entities has been sold, saving about…
Lusix, Benny Landa’s synthetic diamond company, is on the verge of filing for insolvency. The company informed its creditors of its intention to do so but did not specify the exact timing. Calcalist has also learned that the company informed its shareholders last week that it urgently needs to raise $15 million for ongoing operations…
Mexico’s Geo says declared bankrupt by court Reuters Read the original article here
Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Katie Price has broken her silence after an arrest warrant was issued for her over a failed court appearance for unpaid taxes. The glamour model, 46, was scheduled to appear at a London…
Lady Gaga might have lots of money right now, but she was bankrupted after her ‘Monster Ball’ tour, with $3 million (£2.5m) debts. It might just seem like a blip in her history, considering she’s managed to bounce back and bigger than ever, but that’s not a small amount of money to lose. Now, she…
The government appointed commissioners to help run the council in February. Changes were already being overseen by a government-appointed board following the collapse of council-owned Robin Hood Energy in 2020, but commissioners now have direct decision-making powers. Council leader David Mellen said councillors voted “with great reluctance”. “Nobody was pleased to vote in favour of…
MILAN — La Perla’s financial troubles have reached a tipping point. According to media reports, a Bologna, Italy, court declared the state of insolvency Thursday, with judge Michele Atzori naming a trifecta of court commissioners tasked with leading the Italian subsidiary La Perla Manufacturing Srl out of the quagmire. This marks the exit of the brand’s…
The Supreme Court on Wednesday stayed a recent judgment delivered by the National Company Law Appellate Tribunal (NCLAT) closing insolvency proceedings initiated against ed-tech firm Byju’s (Glas Trust Company LLC v. Byju Raveendran and ors). A Bench of Chief Justice of India (CJI) DY Chandrachud with Justices JB Pardiwala and Manoj Misra passed the…
25 Jun 2024 • 4 min read The latest insolvency statistics for May 2024 for company and individual insolvencies have been published on 18 June 2024 for England and Wales. This comes just before the announcement on 19 June 2024 by the Office for National Statistics, that UK inflation fell to the Bank of England’s…