Founder of LED lighting business Vailo declared bankrupt

James Hickmann, founder of South Australian-based LED lighting and technology company Vailo, has been declared bankrupt by the Federal Circuit Court in Adelaide after failing to repay a $600,000 loan. The decision automatically disqualifies Hickmann from managing corporations or holding positions such as director of more than 50 of his companies, including Vailo. As reported…

France’s Carmat files for insolvency, shares suspended

(Reuters) -French heart prosthesis company Carmat has filed for insolvency and requested to be placed in receivership after failing to secure emergency funding, it said on Monday. Trading in Carmat shares have been suspended at the company’s request, it said, pending a decision by the the Versailles Economic Affairs Court. Carmat, which had warned earlier…