The weak yen and higher costs as well as the end of the financial assistance during COVID-19 pandemic are blamed for the high number of corporate bankruptcies in Japan, which rose by 42.9 percent year on year to 1,009 in May. The number surpassed 1,000 for the first time for a month in more than…
Regulator intervention and government stimulus packages in response to market shocks often mask underlying systemic distress and disrupt economic cycles. With companies now largely weaned off COVID-19 support packages, insolvencies have significantly increased. In May 2024, a further 992 companies entered external administration (or had a controller appointed), totalling 9735 this financial year; a ~14.5%…
Unpaid wages, debts: Cooling company goes under owing $1.3m Bundaberg News Mail Read the original article here
A growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one. A council cannot, technically, go…
Anger is growing against failed online retailer Booktopia from authors, publishers and customers, who are being left in limbo as a lengthy administration process to claw back $60 million in debt now plays out. The Australian company appointed administrators earlier this month, after battling tough times that some in the publishing world say was open…
The company writes in a notification to the US Securities and Exchange Commission that Tritium DCFC and three of its Australian subsidiaries are “insolvent or likely to become insolvent”. Although Tritium was founded in Australia and still has its headquarters there, it has been listed on the Nasdaq in the USA since the beginning of…
She was detained after returning to the UK. Photos have emerged showing her with bandages around her face, near police vans at the airport. The PA news agency understands Ms Price, who was born in Brighton but lives in Surrey, was bailed by an out-of-hours magistrate later on Thursday evening. She was declared bankrupt in…
The Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal’s (NCLAT) order, that approved the settlement deal between edtech major Think & Learn Pvt Ltd, the parent of online educational services company BYJU’s, and the Board of Control for Cricket in India (BCCI). A bench headed by Chief Justice D Y Chandrachud, while…
Sankaet Pathak is the founder of Synapse, which filed for bankruptcy. A banking-as-a-service middleware platform’s slide into bankruptcy is another sign of trouble for this business model, where software providers connect licensed banks and nonbank companies that want to take deposits and extend loans — and sometimes promise to offload part of the compliance burden. …
On May 31, Hirschmann Multimedia Holding B.V. filed for provisional suspension of payments, which has now been converted into bankruptcy. According to CEO Dick Kroon, the bankruptcy of Hirschmann Multimedia Holding B.V. and the adjacent Hirschmann Multimedia B.V. is due to the failure of a desired settlement payment arrangement with the tax authorities. While this…