“Bolstering the business for the future, we’ll be sharing exciting updates soon” Recently, the Dutch branch of Infarm, which had already scaled down its activities in the Netherlands, was declared bankrupt. The vertical farming company had already been granted a deferment of payment. That suspension status has now been converted into bankruptcy. The company was…
A record number of businesses have been placed into administration in the past year, an inquiry has been told, with advocates saying inflationary pressures are affecting multiple industries. Officials from Australia’s corporate watchdog told a parliamentary inquiry into the cost-of-living crisis that 11,053 businesses entered external administration in the 2023/24 financial year. ASIC commissioner Kate…
Neill had been investigated by the UK’s insolvency service for the last seven years, leaving him stuck with bankrupt status and unable to even own a mobile phone on a contract. The Times reported at the height of Neill’s financial struggles, the lights would go out in his home because he was unable to top…
Munich-based biomethane trader Landwärme is at the start of insolvency proceedings under its own management. The company announced that business operations in Berlin and Munich – including all 140 employees – will continue until further notice. Landwärme managing director Zoltan Elek will remain in charge during the upcoming reorganisation phase. Lawyer Katharina Wilke will support…
History repeats itself as Fisker, the electric automaker started by car designer Henrik Fisker, faces a series of challenges that could potentially result in the company filing for bankruptcy. The timing of this is interesting if you consider all the negative press, but it’s probably best to weigh the bad buzz against all the other…
Sam Bankman-Fried, former CEO of the bankrupt cryptocurrency exchange FTX, presided over a spectacular collapse that cost his customers billions of dollars. He argues in court filings that anyone owed money by FTX “will eventually be paid in full”. The US government says he’s living in a fantasy land. He was sentenced to 25 years…
Hydroponic farming, a method familiar to those growing crops such as lettuce in greenhouses, is not a new concept. However, recently, a water-based cultivation project stood out. The project’s floating island was showcased at the Floriade in Almere. Its first harvest took place in the summer of 2022. This experiment was a collaborative effort by…
Is it better to die in debt or declare bankruptcy in retirement? MarketWatch Read the original article here
German tennis legend Boris Becker was discharged from bankruptcy court in London after a judge found he had done “all that he reasonably could do” to repay creditors tens of millions of pounds. Becker fell far short of repaying his creditors nearly $95 million he owed, but Chief Insolvency and Companies Court Judge Nicholas Briggs…
The city council of Birmingham, located in the country’s midlands, was slammed with a ginormous equal-pay claim worth up to £760 million ($955 million), following which it said the council had “insufficient resources” to make those payments. As a result, the council was forced to make drastic cost cuts, resulting in the sacking of 600…