Once a frontrunner in the European eVTOL industry, German startup Volocopter may have found a financial lifeline through an acquisition by China-based Wanfeng Group. The €10-million (US$10.9-million) deal, disclosed in a recent stock exchange announcement, comes after Volocopter faced mounting financial difficulties that led to its insolvency. On March 10, Zhejiang Wanfeng Auto Wheel Co.,…
New Delhi, Mar 15 (PTI) Ola Electric Mobility Ltd on Saturday said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly owned arm Ola Electric Technologies Pvt Ltd. In a regulatory filing, the company said, “A petition has been filed under Section 9 of the…
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Ola Electric Faces Insolvency Petition from Operational Creditor TipRanks Read the original article here
Rosmerta Digital Services Ltd has filed an insolvency petition against Ola Electric Mobility’s subsidiary Ola Electric Technologies before the National Company Law Tribunal (NCLT), alleging that the electric two-wheeler maker has defaulted on payments for the services provided. “We wish to inform you that a petition has been filed under Section 9 of the Insolvency…
Restructuring and Insolvency Newsletter: February 2025 updates Único – o portal de notícias do Mattos Filho Read the original article here
There is no denying 2024 was a tough year for business. According to the figures from Alares Credit Risk Insights, insolvencies numbers reached an all-time high last year. Inadequate cash flow, poor strategic management and trading losses are some of the top reasons companies go under. ASIC’s latest insolvency data for the fourth quarter from…
The Q3 2024 national accounts, released this month, revealed that Australia’s economy grew by only 0.8% over the year, the weakest annual growth since the early 1990s recession. The situation was worse adjusting for population growth, with real per capita GDP declining for six consecutive quarters. Advertisement The market (private) sector has borne the brunt…
Economist predicts Michael Saylor’s MicroStrategy will eventually ‘go bankrupt’ TheStreet Read the original article here