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Abuse, fines, scandal: Danish haulier goes bust

For years, the company was a major player in the Scandinavian transport market, serving clients such as JYSK, the Bestseller retail group, and LEGO. In 2022, the haulier was hit with heavy fines for social dumping. Last week, the company filed for bankruptcy. On 7 July this year, a bankruptcy petition was filed with the…

Professional advice plays key role for preventing insolvent trading under Australia’s new guidance

The revised guidance was published by the Australian Securities and Investments Commission (ASIC) to help directors and their professional advisers better understand and comply with their duty to prevent insolvent trading, demonstrated through practical examples. It also provides further details on establishing the safe harbour defence against potential claims for insolvent trading, including the…

Carmat files for insolvency amid cash crunch

This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. Artificial heart company Carmat has filed for insolvency after failing to raise the money it needed to continue operations, the company said Monday. Carmat began seeking donations in June after attempts to raise…

Parliament Declares TUK University Insolvent On Ksh12B Debts

The Technical University of Kenya (TUK) has been declared insolvent by Parliament amid a deepening financial crisis marked by a Ksh12 billion debt and persistent salary delays for staff. The crisis has largely been blamed on a bloated workforce that exceeds the institution’s operational capacity, with payroll consuming Ksh270 million monthly. Additionally, TUK has failed…

TUK Flags Shutdown After Parliament Declared Insolvency

The Technical University of Kenya (TUK) has addressed reports that the university has been shut down days after it was declared financially insolvent by the National Assembly. The Parliamentary Committee on Education on Wednesday, April 16, declared TUK insolvent amid a deepening financial crisis marked by billions of debts and persistent salary delays for staff.…