The Body Shop operates about 100 stores in Australia and is said to be the most profitable international arm of the stricken business. However since the UK parent entered bankruptcy last month, the Australian subsidiary – and others around the world – have become creditors and their access to funds has been cut off. The…
Chennai: A total of 40,943 cases have been filed with National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, till 30 September, 2024. Of this, 1068 cases under Corporate Insolvency Resolution Process were resolved and have realised Rs 3.55 lakh crore. Of the total 40,943 cases filed with NCLT, 2336 cases were filed…
New York/London CNN — Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, president and CEO of Tupperware Brands Corporation,…
South Korean crypto platform Delio declared bankrupt, owing $1.75 billion MSN Read the original article here
Mapstone will contribute to the company’s operations in Dundee, Aberdeen and more. Credit: © Begbies Traynor Group plc. Professional services company Begbies Traynor has expanded its team with the appointment of Kevin Mapstone as a director at its Edinburgh office. With more than 25 years of experience in financial services, Mapstone specialises in insolvency and…
The Pierer Mobility Group has announced that KTM is entering into voluntary restructuring in order to avoid bankruptcy amid ongoing financial woes in the company. KTM’s financial problems have led to a number of drastic measures in recent months, with its board of directors slashed from six to two while several rounds of staff layoffs…
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New Delhi: In a relief for SpiceJet, Ireland-based aircraft lessor Aircastle has withdrawn its insolvency case against the budget airline after reaching a $5.6 million settlement. Both parties informed the National Company Law Tribunal (NCLT) in Delhi about the settlement on Wednesday, after which the tribunal approved the withdrawal of the case. This marks another…
Consumers left at risk When a construction company goes bankrupt, consumers often lose their deposits and are left with half-finished homes. As unsecured creditors, they sit at the bottom of the priority list during insolvency proceedings. While builder insurance is mandatory in most states, it offers limited protection – claims cannot be filed until five…
November 9, 2024 Photo: Henk Monster via Wikipedia Commons Dutch e-bike maker Stella has gone bust, three days after filing for court protection from creditors, because it can no longer meet its financial obligations. The shops and service points have been closed and curator Frans van Oss has promised to give customers who have paid…