SINGAPORE – The director of several companies that owe wages to more than 400 migrant workers has been declared bankrupt. A Bankruptcy Order was made against Indian national and Singapore permanent resident Ramu Palani Velu on Aug 13. He is the director of seven local companies that provide air-conditioning, plumbing and building services. They include…
Insolvencies rose 10.2% in Q2 of 2026 compared to Q1, with 840 companies in trouble over the three-month period, according to the latest Hospitality Index from turnaround and restructuring firm Buchler Phillips. The number of monthly hospitality insolvencies has remained consistently over 260 so far this year, the index also shows. The index does, however,…
A substantial part of Euba Logistic’s operations will continue under Deutsche Getränke Logistik (DGL). The company is acquiring key business assets in an asset deal that takes economic effect on 1 August 2026. The package includes approximately 70 trucks. Around 120 jobs at the Angermünde site are also expected to be retained. The deal gives…
Ten years ago, US President Donald Trump promised he would pay off the national debt within just eight years. “We’re not a rich country. We’re a debtor nation,” he proclaimed during his 2016 election campaign. “We’ve got to get rid of the $19 trillion in debt … Fairly quickly.” He then offered a timeline. “I…
The Madras High Court on 10 August held that the pendency of insolvency proceedings against a chit company does not prevent its Liquidator from taking steps under the Chit Funds Act, 1982 to recover amounts due to the company. Justice D. Bharatha Chakravarthy directed the Economic Offences Wing (EOW) to furnish the Liquidator of Thiripura…
SINGAPORE: The director of several companies that owe wages to more than 400 migrant workers has been declared bankrupt. A bankruptcy order was made against Indian national and Singapore permanent resident Ramu Palani Velu on Aug 13. He is the director of seven local companies that provide air-conditioning, plumbing and building services. They include KPA…
Latest data from The Insolvency Service has shown that the construction industry experienced the highest number of insolvencies in the 12 months to June 2026 at 3,841, making up 17% of all industry cases. Carly Thorpe, Construction & Engineering Partner at Walker Morris, said: “The latest insolvency figures reflect the continued pressures facing the construction…
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Nikki Haley Warns Social Security Could ‘Go Bankrupt’ in 5 Years as US Debt Surges Past $40 Trillion: ‘Pa Benzinga Read the original article here
REVEALED: Liquidator appointments for businesses in the Yarra council area for August 19 heraldsun.com.au Read the original article here