English High Court supports creditors' choice in payment institution collapse – Taylor Wessing
English High Court supports creditors’ choice in payment institution collapse Taylor Wessing Read the original article here
Saks acquisition of Neiman Marcus led to bankruptcy
For more than a decade, the former executive chairman of Saks Global dreamed of adding Neiman Marcus to his collection of legacy department stores, believing the combined entities would create a luxury powerhouse strong enough to defy changes dragging down the industry. Instead, Richard Baker’s $2.7 billion acquisition of Neiman Marcus in 2024 ultimately plunged…
2025 Bankruptcy Roundup: Rising Filings and Evolving Dynamics
Bankruptcy activity across the United States increased noticeably in 2025, marking one of the sharpest rises in more than a decade and reflecting mounting financial pressure on businesses and individuals alike. While the total number of annual bankruptcy filings remains lower than pre-pandemic levels, overall filings grew at a steady pace compared to the prior…
Top compliance mistakes that trigger insolvency proceedings and how to avoid them
Insolvency proceedings often arise from avoidable compliance failures: missed deadlines, governance lapses, statutory violations, and failure to adapt to evolving law. Businesses can significantly reduce insolvency risks by embedding robust compliance protocols, transparent governance, and proactive legislative tracking into their operational DNA. By focusing on these preventive measures, companies not only safeguard against legal exposure…
Liquidators of Northland engineering firm Obelisk Industrial chase director over $9m shortfall – BusinessDesk | NZ
Liquidators of Northland engineering firm Obelisk Industrial chase director over $9m shortfall BusinessDesk | NZ Read the original article here
Liquidators of Northland engineering firm Obelisk Industrial chase director over $9m shortfall
The liquidators said they had nevertheless served demand letters on Culham seeking recovery of the amount alleged to have been misappropriated, and would “pursue all available legal remedies”. Obelisk’s sole shareholder is listed as Kara Culham, who shares an address with Steven Culham in Auckland’s Swanson, according to the Companies Office. Obelisk is said to…
Saks Global files for bankruptcy, weighed down by debt from Neiman Marcus acquisition
Open this photo in gallery: Saks Global estimated its assets and liabilities both fall within a range of US$1-billion to US$10-billion, according to court filings with the U.S. Bankruptcy Court for the Southern District of Texas.Brendan McDermid/Reuters The U.S. department store company that was split off from Hudson’s Bay Co. a little over one year…
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Cash-strapped luxury retailer Saks Global files for bankruptcy protection
Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, is seeking a financial lifeline. The company filed for Chapter 11 bankruptcy protection late Tuesday, citing cash shortfalls and missed key payments. Saks, which had been trying to secure $1 billion in financing to keep its stores open, recently missed interest…
Energy and insolvency: When may an insolvent company pay a dividend? – CMS LAW-NOW
Energy and insolvency: When may an insolvent company pay a dividend? CMS LAW-NOW Read the original article here