YT Industries has suspended most of its operations and released the majority of its employees as the German mountain bike brand undergoes insolvency proceedings, CEO and founder, Markus Flossman confirmed in a statement. The company entered into self-administration in July after its main shareholder, a private equity investor, announced it would no longer finance the…
Publishers Clearing House Goes Bankrupt, Sweepstakes Winners No Longer Receiving Yearly Checks National Enquirer Read the original article here
Major St. Petersburg banana importer declared bankruptcy. The Arbitration Court of St. Petersburg and the Leningrad region has declared LLC Troya Import insolvent. The company, once one of the city’s largest importers of bananas and other fruits with multi-billion-ruble revenues, has been placed under bankruptcy proceedings. The court-appointed administrator, Andrey Enkov, must submit a…
In a boost to corporate resolutions under the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Friday (September 26) approved Sajjan Jindal-led JSW Steel’s $2.3 billion acquisition of Bhushan Power and Steel (BPSL), reversing its earlier rejection of the deal. The court also dismissed creditors’ demand for an additional ₹6,100 crore, clearing the way…
Mohammed Rashidzadeh obtained a £50,000 Bounce Back Loan for his business but almost immediately transferred the money from his company account to buy a house in Huddersfield Rashidzadeh applied to close down Cozy Bed Ltd through Companies House within eight days of receiving the funds, while deliberately failing to notify the bank that lent him…
Liquidation of debt-ridden firm last option under Insolvency and Bankruptcy Code: SC Press Trust of India Read the original article here
Vedanta’s ESL Unit ‘Bleeding Cash, Heading Back to Insolvency’: Viceroy Research Warns Moneylife Read the original article here
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Just over a year ago, Moxion Power closed its doors, adding its name to a list of high-profile bankruptcies that roiled the climate tech world in 2024. The portable battery startup had raised more than $110 million in a bid to replace diesel generators at festivals and construction sites, but even that wasn’t enough to…
The Supreme Court clarified the effect of annulment of insolvency proceedings on transactions carried out during the insolvency period. The case arose from a long-standing dispute over the shareholding in a partnership firm, M/s Gavisiddheshwara & Co., originally formed in 1963. After the death of one of the partners in 1975, his son (the appellant)…