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Category Archives: Bankruptcy

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BankruptcyBy EditorAugust 18, 2024

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…

Potential victims of travel agency shut down by courts are urged to come forward

BankruptcyBy EditorAugust 18, 2024

Zulu Travel Services Ltd was wound up at the High Court of Justice in Manchester following an investigation into its trading practices, and the official receiver appointed as liquidator  Company director Dr Darren Anderson had changed his name three times and was already  banned from running a company for 15 years under his previous name   Anderson…

Annual ASIC insolvency data reveals increase in companies failing – The National Tribune

BankruptcyBy EditorAugust 18, 2024

Annual ASIC insolvency data reveals increase in companies failing  The National Tribune Read the original article here

Fact Check: Has Trump declared bankruptcy four or six times? – The Washington Post

BankruptcyBy EditorAugust 18, 2024

Fact Check: Has Trump declared bankruptcy four or six times?  The Washington Post Read the original article here

At least 26 English councils ‘at risk of bankruptcy in next two years’ | Local government

BankruptcyBy EditorAugust 18, 2024

At least 26 councils in some of Britain’s most deprived areas are at risk of effective bankruptcy within the next two years, according to a leading local government group, which says many authorities simply have “nothing left”. Britain’s local government network has been shaken by a string of financial collapses in the past two years,…

Birmingham city council declares itself in financial distress | Local government

BankruptcyBy EditorAugust 18, 2024

Birmingham city council, the largest local authority in the country, has in effect declared itself bankrupt after issuing a section 114 notice, signalling that it does not have the resources to balance its budget. The notice, preventing all but essential spending to protect core services, was issued on Tuesday with council leaders blaming a £760m…

Liberty Steel’s Czech Woes Deepen as Unit Fails to Lure Buyers

BankruptcyBy EditorAugust 18, 2024

Metals magnate Sanjeev Gupta’s efforts to sell his troubled Liberty Ostrava steelworks hit a setback as the Czech government said potential buyers had lost interest in taking over the company. Gupta’s Liberty Steel has been looking to divestBloomberg Terminal its Czech operations after a court declared the dormant unit with about 5,000 employees insolvent and…

Small business restructuring to surpass voluntary liquidations

BankruptcyBy EditorAugust 17, 2024

Left: Richard Lawrence of Mackay Goodwin. Source: Supplied. Recent data released by the Australian Securities and Investments Commission (ASIC) reveals a record high of 1,245 insolvency appointments in May 2024, marking a 44% increase from a year ago and a remarkable 122% surge compared to 2022.  This upsurge in business failures has been linked to adverse…

Processing unit of Canada’s only rare earths miner goes bankrupt

BankruptcyBy EditorAugust 17, 2024

The decision, among Vital’s findings in the review that it began in April, was also made to allow the best chance of advancing the Tardiff deposit, part of its Nechalacho rare earths project in the Northwest Territories, Vital said. The company said in a July release that the review had largely been completed. Vital’s other…

Flying Fish Brewing Co made bankrupt after sale falls through

BankruptcyBy EditorAugust 17, 2024

New Jersey brewery Flying Fish has filed for bankruptcy after a planned sale to Cape May Brewing Co collapsed. Instagram / @flyingfishbrew Flying Fish Brewing Co, based in Pennsylvania, New Jersey, has filed for bankruptcy protection after a sale of its assets to Cape May Brewing Co failed to go through. The bankruptcy petition, filed…

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