German eVTOL developer Lilium (Oberpfaffenhofen) announced it filed for insolvency on February 21 after last-ditch funding options to secure its future did not materialise in time. “While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely, and therefore, operations will be stopped. Given the situation, this is deeply…
Mon, 24 Feb 2025 | ADMINISTRATION Dorchester-based Acheson Construction has collapsed into administration. The company appointed Richard Lewis and Alistair Wardell of Grant Thornton as joint administrators on February 18. Acheson, which has been involved in a host of local and regional building projects, had operated for more than 50 years and had another premise…
Su Zhu-backed Ox.Fun dismisses insolvency claims amid JefeDAO feud The Block Read the original article here
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Insect protein startup Ÿnsect files for insolvency Sifted Read the original article here
TALLAHASSEE — While Florida insurers claimed to be losing money in the wake of hurricanes Irma and Michael, their parent companies and affiliates were making billions of dollars, according to a study obtained by the Times/Herald. The start of the state’s insurance market meltdown came on the heels of those two storms between 2017 and…
Embattled ed-tech firm Byju’s has a new navigator for its bankruptcy proceedings. On Monday, the Bengaluru insolvency court approved the appointment of Shailendra Ajmera as the resolution professional (RP), replacing Pankaj Shrivastava. This follows a January order by the National Company Law Tribunal (NCLT), which questioned Shrivastava’s ability to oversee the process. The tribunal also…
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Metal foundry company, Vocklabrucker Metallgießerei GmbH (VMG), which has been around for nearly seven decades was bought by KTM last year but looked set to close due to the Austrian firm’s insolvency. That was before another metalworking company came to the rescue. KTM took over 100 per cent of the company in late 2024 but…
“Since the appeal has not been disposed of until Feb. 21, 2025, as per the instruction of the Supreme Court, the order passed by NCLAT regarding the stay on the CIRP of the Corporate Debtor stands vacated. Therefore, the CIRP of the Corporate Debtor recommences/resumes and the powers of the IRP are hereby reinstated with…