Category Archives: Bankruptcy

Sir Bradley Wiggins is declared bankrupt: Cycling legend, 44, could be forced to hand over his medals and trop – Daily Mail

By Dan Woodland Published: 11:06 AEST, 8 June 2024 | Updated: 11:06 AEST, 8 June 2024 Sir Bradley Wiggins has been declared bankrupt and could be forced to hand over his medals and trophies after falling into financial difficulties.  The eight-time Olympic … Read the full article at: https://www.dailymail.co.uk/news/article-13507923/Sir-Bradley-Wiggins-declared-bankrupt-medals-trophies-financial-difficulties.html

NCLT Mumbai Admits Personal Insolvency Application Against Videocon's Promoter Rajkumar Dhoot – Live Law – Indian Legal News

The National Company Law Tribunal (‘NCLT’) Mumbai, comprising Justice V.G. Bisht (Judicial Member) and Mr. Prabhat Kumar (Technical Member) has admitted personal insolvency application against Mr. Rajkumar Nandlal Dhoot, Promoter and Co-owner, of Videocon Industries Limited (‘VIL’). The application was filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) by the State…

China Opens Probe of Indebted Asset Management Firm – Voice of America – VOA News

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…

UK insolvency rules under scrutiny as timelines extend – Euromoney magazine

Lord Sikka | Photo: UK Parliament Insolvency data is always closely analysed as a barometer of the commercial health of the nation. The figures for April show that after seasonal adjustment, the number of registered company insolvencies in England and Wales was 2,177, 18% higher than in the previous month. However, it is the length…

Case note | Director's personal liability for insolvent trading – Lander & Rogers

The Federal Court’s recent decision in Stone (Liquidator), in the matter of RIC Admin Pty Ltd (in liq) v Mandalinic (No 2) [2024] FCA 164 demonstrates the analysis the courts will undertake in determining a director’s personal liability for insolvent trading, even when the director does not appear for the hearing. The case reiterates how…

Model, TV star bankrupt over $1.5m tax debt – news.com.au

Model and TV presenter Katie Price has been declared bankrupt for the second time, a court heard today. Price was married to Australian singer Peter Andre between 2005 and 2009 and they have two children together. The UK glamour model, 45, who was not in court to hear her fate, has an unpaid tax bill…

Shanghai businessman Richard Yan declared bankrupt after New Zealand no-show – South China Morning Post

The New Zealand High Court has declared Richard Yan bankrupt after the Shanghai businessman failed to come to the negotiating table in connection with more than NZ$60.9 million (US$36.6 million) he owes creditors of failed construction company Mainzeal. Associate judge Grant Brittain adjudicated Yan bankrupt on Thursday, following months of failed efforts to chase down…

Katie Price declared bankrupt again – Yahoo News Australia

Katie Price has been declared bankrupt for a second time. The former glamour model – who was previously declared bankrupt in 2019 – owes more than 750,000 to HM Revenue and Customs (HMRC) and failed to respond to the organisation over the debt, a court was told on Monday (19.03.24). Insolvency and Companies Court Judge…

Europe's third-largest tour operator FTI files for insolvency – Reuters

BERLIN, June 3 (Reuters) – Europe’s third-largest tour operator FTI Group filed for insolvency in the Munich regional court on Monday, the German company said in a statement, as bookings continued to fall even after a recent one-euro buyout proposal. In addition to sinking orders, multiple suppliers insisted on advance payments, which FTI is no…

Business failure wave flowing into personal insolvencies – Retail World

Personal insolvencies are spiking as the cost-of-living crisis continues to bite and business failures trigger a ripple effect and theres more to come, says insolvency and business turnaround specialist Jirsch Sutherland. The comments come off the back of the March quarter 2024 new personal insolvencies statistics from AFSA, which reveals an increase of almost 20%…