Insolvencies Are Well-Above Pre-COVID Levels and Rising – FTI Consulting
Insolvencies Are Well-Above Pre-COVID Levels and Rising FTI Consulting Read the original article here
Lightyear’s Operating Company Atlas Technologies Declared Bankrupt
Solar EV startup Lightyear has announced that Atlas Technologies, its operating company responsible for the production of solar cars, has been declared insolvent by a Dutch court. Obviously, this spells uncertainty for the future of Lightyear, which announced a week ago that production of the Lightyear 0 was suspended six weeks after it started. The…
Tampa insurance company picks up nearly 200K homeowners from insolvent companies
HILLSBOROUGH COUNTY, Fla. — United Property & Casualty Insurance (UPC) is the 10th property insurance company in Florida to enter receivership in the last three years, meaning they don’t have enough funding to pay out claims. As a result, the Florida Office of Insurance Regulation (OIR) declared the company insolvent last week. In such a…
Chancellor update on Silicon Valley Bank UK
An update from Chancellor Jeremy Hunt on Silicon Valley Bank UK This was published under the 2022 to 2024 Sunak Conservative government The Bank of England announced on Friday that Silicon Valley Bank UK is set to enter insolvency, following action taken by its parent company in the United States. The Bank of England confirmed…
Suraksha Group earmarks 2,552 acre of land for Jaypee Infratech lenders | Company News
Suraksha Group, which has acquired Jaypee Infratech Ltd (JIL) through insolvency process, has identified 2,552 acre of land parcels. Image: X Suraksha.co.in 4 min read Last Updated : Aug 29 2024 | 3:03 PM IST Suraksha Group, which has acquired Jaypee Infratech Ltd (JIL) through insolvency process, has identified 2,552 acre of land parcels…
Roti declares Chapter 11 bankruptcy
Roti, the Mediterranean chain, says it has declared Chapter 11 bankruptcy. | Image courtesy of Roti. Roti, the Mediterranean fast-casual chain, on Friday said it had declared Chapter 11 bankruptcy, joining a parade of summertime restaurant chain restructurings. The Chicago-based chain said it plans to use the Chapter 11 process to find new investors or…
Altantuya murder: Family files for Razak Baginda to be declared bankrupt after failing to pay RM9.2m; he says claim ‘defective’
KUALA LUMPUR, Aug 29 — The family of Altantuya Shaariibuu has filed for Abdul Razak Baginda to be declared bankrupt after he failed to pay them RM9.2 million. The family is seeking this amount after a civil court ruling in 2022 ordered Razak and three others to pay them RM5 million plus interest, according to…
Pouring Oil on Troubled Waters New UK Special Insolvency Regime Is Now on Tap
The UK water industry is rarely out of the headlines, whether for operational performance issues or reports of perpetual financial distress. It may therefore be more than a coincidence that the UK government has chosen now to introduce new rules for the special administration regime (SAR) that applies to water companies. In common with other…
Bankrupt Digital Health Company Babylon Sells U.K. Assets For Just $620,000
Bankruptcy filings reveal that investors have been left with hundreds of millions of dollars of losses after the British telehealth startup, which was founded by Ali Parsa, had sold its U.K. arm for around $620,000. © 2022 Bloomberg Finance LP British digital health startup Babylon Health went public in June 2021 at a $4.2 billion…
24-year-old goes bankrupt after international vacation
Chantelle is yet to turn 25 and she’s already declared bankruptcy. The Gen Zer, who works full-time for an energy company and earns $60,000 [Australian, approximately $39,000 USD] a year, was forced to declare bankruptcy after finding herself $75,000 [Australian, approximately $48,000 USD] in debt and unemployed. Chantelle’s very open about her debts and recently…