Wirecard to Exit DAX Index With Delivery Hero Standing By – Yahoo Canada Finance

(Bloomberg) — Deutsche Boerse AG will remove Wirecard AG from its benchmark DAX index ahead of a regular quarterly reviewfollowing the collapse of the payments company amid allegations of accounting fraud. The decision was taken following consultations with market participants conducted after Wirecard declared insolvency in June. The results favored immediate removal of bankrupt companies…

Ravn is bankrupt and selling off assets, but still wants to give chief executive a bonus – Alaska Public Media News

A RavnAir Group Dash-8 plane sits on the tarmac at Anchorages international airport. (Ravn Alaska) Alaskas largest rural airline has declared bankruptcy, laid off more than 1,000 workers and is selling off its assets. But the company still wants to split $250,000 in bonuses between its highly-paid chief executive and other employees. In a filing…

$13m owed: Ferrari-driving businessman declares bankruptcy – Queensland Times

A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…

UK’s new insolvency process should worry company creditors around the world – The Conversation United Kingdom

Virgin Atlantics rescue deal is something of a watershed in how companies can escape insolvency. The deal, which will involve Richard Branson and US hedge fund Davidson Kempner Capital Management injecting US$1.6 billion (1.2 billion) into the airline, uses the new restructuring plans made possible by the UK Corporate Insolvency and Governance Act 2020. While…

$13m owed: Ferrari-driving businessman declares bankruptcy – Noosa News

A former Ferrari-driving businessman has declared bankruptcy after his four companies collapsed within eight months owing about 200 creditors $13 million. Sunshine Coast businessman Gordon Smith, who last year promoted his investment company as being “solid as a rock”, is unable to pay back the creditors of his four property development and wealth businesses, liquidators’…