2U, a fading giant in the online program manager space, announced Thursday it had filed for Chapter 11 bankruptcy. While the company said the process will put it back in a competitive position, experts said the filing creates an incentive for longtime customers to rework their contracts or finally jump ship from an OPM plagued…
Indian ed-tech giant Byju’s insolvency case fans employees’ fears Reuters India Read the original article here
3 min read Last Updated : Aug 22 2024 | 7:19 PM IST The Supreme Court on Thursday refused to stay the operations of the Committee of Creditors (CoC) formed in the insolvency resolution process against ed-tech company Byju’s. A Committee of Creditors (CoC) is a group of people who represent a company’s…
The potential insolvency of Byju’s, a prominent Indian education technology company, could become the largest disruption in the once-thriving startup sector, sparking a prolonged struggle among thousands of anxious employees to recover their owed compensation and safeguard their careers, according to Reuters report. Once a favorite among global investors and valued at $22 billion in…
Prive Global Sports Ltd offered heavily discounted hospitality packages to businesses for in-demand sporting events The company’s clients paid for packages which were later cancelled with no refunds provided Customers have lost more than £600,000 in total A company which offered half-priced hospitality at sold-out sporting events has been shut down after cancelling the bookings…
The UK’s accounting watchdog has launched an investigation into an accountant at Thurrock council after the Conservative-run local authority’s failed investment spree landed it in effective bankruptcy. The Financial Reporting Council (FRC) said its move related to an individual’s compliance with governance, reporting, regulations and professional standards at the Essex council over its operations and…
By Reuters Published Feb 25, 2015 SuperGroup Plc, the owner of the Superdry fashion brand, said on Wednesday its finance chief Shaun Wills had quit after being declared bankrupt two weeks ago. Wills, who is a qualified accountant, was made the subject of a personal bankruptcy order on Feb. 10, the company said, but it…
BENGALURU/NEW DELHI :The insolvency of Indian education technology company Byju’s threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers. Once a darling of global investors, valued at $22 billion in 2022, Byju’s became popular by offering online…
The sale of Blachford Lake Lodge through a year-long insolvency process is set to result in almost no repayment of any debt other than a partial payment to Prosper NWT. Documentation filed this month by BDO, the company overseeing the insolvency process, shows that a sale of the lodge and associated assets raised $1.2 million…
Arrowood Indemnity, the runoff entity for Royal Indemnity and Royal Globe (Royal), was declared insolvent by the Delaware commissioner of insurance on November 6, 2023. This action was taken through the filing of a complaint for entry of a liquidation and injunction order with a bar date. The commissioner has suggested a bar date of…