ASIC’s annual insolvency data shows more than 11,000 companies entered external administration for the first time in 2023-24. While this is slightly higher than prior peaks seen in 2011–12 and 2012–13, it is proportionately smaller as there are now nearly 3.4 million companies in Australia compared to around two million in 2012. The current ratio…
In short: A liquidator says the business My Tiny Home Kit had no real prospect of actually delivering homes and may have been trading while insolvent. The company owes customers more than $3.4 million, according to initial estimates. What’s next? The liquidator says further investigation into the business is required. There is also an ongoing…
Beijing — Chinese police have opened an investigation into Zhongzhi Enterprise Group after the debt-ridden financial giant declared itself insolvent. Police in Beijing, where the group is headquartered, said late Saturday they had opened an investigation into unspecified “alleged offenses,” adding that they had taken measures against several suspects. Zhongzhi declared itself insolvent Wednesday with…
Bandai Namco Online declares bankruptcy Softonic EN Read the original article here
A bank in Sac City was declared insolvent and closed at the end of last week. According to a press release by the Iowa Division of Banking, Citizens Bank in Sac City was closed on Friday. It’s the first bank closure in Iowa in 12 years. The bank was declared insolvent after bank examiners identified…
Look, if you’ve been plotting an investment strategy using tips from Instagram influencers, you’re probably beyond our help. But we have to try – it’s our job – and the latest instalment in the sorry tale of Tyson Scholz, the online stock trading “educator” with a taste for Ferrari, Bugatti and Rolls-Royce cars, high-end champagne,…
Highlights Former Manchester United defender Wes Brown has spoken out for the first time since being declared bankrupt. The 44-year-old was declared bankrupt last year after HMRC filed a bankruptcy petition against the ex-England international. Brown has revealed that he didn’t have the ‘right people’ to guide him during his younger years. Former Manchester United…
NCLT initiates insolvency proceedings against CCD’s parent firm Storyboard18 Read the original article here
BBC Nottingham City Council declared itself effectively bankrupt on Wednesday Following Nottingham City Council’s declaration of effective bankruptcy, the BBC looks at what the issuing of a section 114 notice means for the authority, and the 330,000 people who live in the city. What has Nottingham City Council announced? The government said it was considering…
How Oberweis, and others, went bankrupt: Crain’s Daily Gist podcast Crain’s Chicago Business Read the original article here