Bax Music, a major seller of musical instruments and equipment, has been declared bankrupt by the Zeeland-West-Brabant court, De Telegraaf reports. The decision, made on Tuesday, follows the company’s request for a suspension of payments last week—often a precursor to bankruptcy. The company has struggled with financial difficulties in recent years, owing debts to various…
Whether the CIRP is a collective proceeding To qualify as a “foreign proceeding” under the Model Law the proceeding must, among others, be collective in nature and a judicial or administrative proceeding in a foreign state [Ascentra Holdings, Inc (in official liquidation) and others v SPGK Pte Ltd [2023] 2 SLR 421 at [29]]. The…
Climate firm that partnered with Meta, Microsoft goes bankrupt Communications Today Read the original article here
Posted: 10/02/2025 Introduction Digital assets, including cryptocurrencies and non-fungible tokens (NFTs), have seen exponential growth. With the continued adoption and expanding personal ownership of digital assets, they will increasingly become a regular part of insolvency proceedings. This is true whether they are assets to be realised in the insolvency or if an insolvent company operates…
Alberta-based Sunterra companies in financial, legal trouble The Western Producer Read the original article here
This year was brutal for several well-known companies and their bottom lines.As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. Other brands fell victim to changing trends or even more malicious ailments, like cyberattacks.At least 19 companies have cut a combined 14,000 jobs because…
PAEDOPHILE Gary Glitter is bankrupt after dodging a huge compensation payout to one of his victims. The shamed pop singer, 80, refused to pay £508,000 in damages, as part of a High Court order given last June, to a woman he raped when she was 12. 3 The singer, whose real name is Paul Francis Gadd, will see…
Gary Glitter has been declared bankrupt after the paedophile pop star refused to pay a six-figure compensation to one of his victims. Glitter, real name Paul Francis Gadd, was ordered last year to pay £508,800 damages to a woman he abused when she was aged 12. The disgraced rocker, 80, has now been made bankrupt after her…
Provisional judgments and illiquidity in Germany – key insights from a recent case Taylor Wessing Read the original article here
The Bill is a follow-up to the General Scheme of the Bill (General Scheme) and regulatory impact analysis that was published earlier in the year. The Bill generally follows the proposals in the General Scheme but with some changes – for example, some provisions around the Corporate Enforcement Authority (CEA) being able to exercise certain…