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…
Katie Price is no stranger to being honest about the tough times in her personal life over the years, from bankruptcy, to relationship woes and depression. Now, in her brand new memoir This Is Me: The high life. The dark times. The FULL story, the 46-year-old got even more candid about her past, present, and…
HYDERABAD: In a setback to the GVK group, the National Company Law Tribunal (NCLT) at Hyderabad has declared its flagship company GVK Power and Infrastructure Ltd (GVKPIL) as bankrupt and initiated corporate insolvency resolution process (CIRP) for defaulting on a loan (including interest) of Rs 18,000 crore to ICICI Bank and a few other banks.The…
The National Company Law Tribunal’s (NCLT’s) Hyderabad bench has declared GVK Power and Infrastructure Ltd (GVKPIL) as bankrupt and initiated corporate insolvency resolution process (CIRP) for defaulting on a loan of Rs 18,000 crore (including interest) to ICICI Bank and a some other lenders. GVKPIL is the flagship firm of the GVK group. Related Articles…
A day after his 52nd birthday, Andrew Christodoulou got a nasty surprise in the mail. A letter from the Australian Taxation Office (ATO) in November last year read: “You have been issued with a director penalty notice for Superannuation Guarantee Charge amounts”. “A director’s penalty notice. I’ve never heard of one,” Mr Christodoulou tells ABC…
Aussie online retailer Booktopia insists it was at all times trading in line with insolvency laws, as administrators continue to pore over its books. Administrators said the company could be as much as $60m in debt on Monday, the first day creditors have met since the bookseller collapsed less than two weeks ago. The ABC…
Manchester-based company believed to be offering insolvency practitioner services when it was not authorised to do so is wound-up in court. Save Consultants Ltd claimed to provide insolvency practitioner services when none of its current or former directors were licensed Its actions risked undermining the insolvency regime and the companys directors refused to explain its…
The number of bankruptcies rose in June. According to Statistics Netherlands (CBS), there was an increase of 37 companies that were declared bankrupt in June compared to a month earlier. This is a rise of 11 percent. According to CBS, the number of bankruptcies has been trending upward for the last two years. In the…
In short: Armaguard has rejected a lifeline deal worth $26 million to prevent it from becoming insolvent. It comes after Coles temporarily paused its use of the company over the Easter long weekend, but has since resumed using its services. What’s next? The cash transportation company says it is working with its customers and is…
1 Market overview A number of crisis factors such as COVID, the Russian invasion of Ukraine, and Israel’s war against Hamas have influenced the Austrian restructuring and insolvency environment in the past few years. There are now initial signs of the economic pressure easing (such as a decreasing base rate), although the economic effects of…