Restaurants and bar close as businessman’s companies tumble

Three Noosaville hospitality venues have closed their doors suddenly after several of the owners’ companies cascaded into a mixture of administration and liquidation. JD’s Chicken Co and Apero Noosa, at 203 Gympie Terrace, Noosaville, and Frenchies Brasserie Noosa, at Thomas Street, Noosaville, have all shut. People identifying themselves as employees said on social media that…

Human Horizons appears to be on the verge of insolvency

Even though an insolvency administrator is already involved, this is still a so-called pre-restructuring phase. In this phase, which lasts six months and can be extended by three months if necessary, Human Horizons must work with the insolvency administrators to protect assets, manage operations prudently and attract strategic investors. This period is seen as a…

Co-Med doctors chain declared bankrupt by court

July 5, 2024 Photo: Depositphotos.com Doctors chain Zorg BV, a part of Co-Med, has been declared bankrupt at a court in Maastricht, after weeks of uncertainty. The chain, which served 50,000 patients, was effectively brought to a standstill two weeks ago when insurers stopped working with it. They feared that shortages meant that its patients…

What Happens When a Crypto Exchange Goes Bankrupt?

The major downside to cryptocurrency is the risk of loss, which is even more difficult to manage when a crypto exchange is holding your keys. In July 2022, two major crypto trading platforms, Voyager and Celsius, declared bankruptcy. In November 2022, crypto exchange FTX suffered a major liquidity crisis and filed for Chapter 11. FTX…