China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities – Reuters
China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities Reuters Read the original article here
Melbourne woman to declare bankruptcy over $150k debt at just 30
A woman who owned a Melbourne bar that went bust has revealed she is in the “scary situation” of having to file for bankruptcy as she faces $150,000 in debt. Liv Franklin was the owner of Follies, a vegan antipasti bar in Fitzroy, which closed down at the end of March. She said there were…
‘Tsunami’ of headwinds faces builders as collapses surge by a third
The director of collapsed Canberra-based fitout and refurbishment business Rork Projects says a “tsunami of impossible economic conditions” is hitting the construction industry as the latest official figures point to a 32 per cent surge in insolvencies across the sector this financial year. As of March 10, 1913 construction companies had entered administration or appointed…
Zhongzhi, one of China’s major shadow banks, declares itself ‘severely insolvent’ | Economy and Business
Building of the People’s Bank of China in Beijing. The Chinese trust sector has once again set off alarm bells with the announcement that Zhongzhi Enterprise Group is declaring itself “severely insolvent.” The Beijing-based conglomerate has reported that it faces a shortfall of 260 billion yuan, the equivalent of $36 billion, and has warned of…
Gemini customers get back over $2 billion in crypto from Genesis bankruptcy – Reuters
Gemini customers get back over $2 billion in crypto from Genesis bankruptcy Reuters Read the original article here
Australia regulator flags surge in company insolvencies to 11-year high – Reuters
Australia regulator flags surge in company insolvencies to 11-year high Reuters Read the original article here
Council bankruptcy tracker: authorities under increasing financial strain
Birmingham City Council had to issue a section 114 notice in August 2023 facing a bill for equal pay claims of up to £760m. Photo by Shutterstock Councils across the country find themselves in a turbulent financial position. Since 2021 six local authorities have declared themselves effectively bankrupt, with a raft of councils warning they…
Gainax, the studio behind Evangelion, goes bankrupt and disappears after 40 years of history
The day started with very bad news for anime fans and lovers of Neon Genesis Evangelion. Gainax, the studio behind the animated series of the franchise, declared bankruptcy and closed its doors, bringing an end to a 40-year history in the industry. According to details, the Tokyo District Court recognized the studio’s bankruptcy, caused by…
One of Europe’s largest travel operators calls time as it files for insolvency
Thousands of travellers are likely to be affected as a number of package holidays are cancelled or cut short. ADVERTISEMENT FTI Group, one of Europe’s biggest tour companies, has filed for insolvency. The Munich-based business, which has recently been hit by a number of problems including poor bookings said in a press release: “After a…
Berlin-based e-scooter startup unu declares bankruptcy
The Berlin-based startup unu was founded with the goal to accelerate the shift towards electric mobility with its stylish e-scooters. However, their business seemed to have been running smoothly for only for a rather short time. As we learned from sources close to the company, unu has just filed for bankruptcy. The Berlin-based e-scooter manufacturer had…