China’s housing minister said Beijing will not be bailing out the country’s distressed property developers. “Real-estate companies that are seriously insolvent and have lost their operating capabilities must go bankrupt and be restructured in accordance with the principles of the rule of law and marketization,” Ni Hong, China’s minister for housing and urban-rural development, said…
Table of Contents {{ tocState.toggleTocShowMore ? ‘Show more’ : ‘Show less’ }} Australia’s business landscape has seen a steady rise in the number of insolvencies in recent months as cost-of-living pressures bite and economic conditions slow down. Although numbers had declined for several years, business collapses are now back above pre-pandemic trends, putting the spotlight…
Reuters Property giant Evergrande has filed for bankruptcy protection in the US as the real estate crisis in China deepens. It will allow the heavily-indebted company to protect its assets in the US as it works on a multi-billion dollar deal with creditors. The move comes as problems in China’s property market add to concerns…
Highlights John Arne Riise’s playing career saw him win the Champions League with Liverpool in 2005. But the Norway international was declared bankrupt in 2007. Riise has turned things around in recent years, with financial support and punditry. John Arne Riise’s legacy on the pitch sees him remain a modern Norwegian great who has a…
Companies are collapsing at the fastest clip in years, as soaring interest rates push their borrowing costs sharply higher, while slowing economic activity is causing sales to languish. The move by troubled US chemist chain Rite Aid Pharmacy to file for bankruptcy on Sunday has added another name to the list of US corporate casualties…
The District Court of Shawnee County, Kansas has declared MutualAid eXchange (MAX) insolvent, and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance. The court ruled MAX to be insolvent on August 22, two weeks after the company’s board of directors consented to an Order of Rehabilitation.…
Whitsundays fishing charter goes under with $350k debts Courier Mail Read the original article here
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
The crisis in local authorities was laid bare on Tuesday as Birmingham city council in effect declared itself bankrupt, with experts warning that others across the UK were now living “hand to mouth”. The council’s head of finance took the dramatic decision on Tuesday to issue a section 114 notice, indicating that it did not…
The High Court on Tuesday declared media tycoon Yu Pun-hoi bankrupt, after a failure to repay debts of more than HK$400 million to a mainland investment bank. Yu is the chairman of formerly listed Nan Hai Corporation, the parent company of online media outlet HK01. The court heard that the creditor, CCB International Overseas Limited,…