The troubled joint venture between Stellantis and China’s Guangzhou Automobile Group, GAC Fiat Chrysler Automobiles, has officially been declared bankrupt, the company confirmed on Tuesday. In a social media post, the joint venture shared images of a bankruptcy ruling issued by a court in Hunan province, formally marking the end of the business, which has…
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Stuart Edward Hutchinson, 38, and Lauren Hutchinson, 34, were directors of Adlington Electrical Limited (AEL), based in Chorley. Both were found to have allowed the company to trade to the detriment of HM Revenue & Custom (HMRC), despite having significant income during that time. According to the Insolvency Service, they failed to submit VAT returns and…
SINGAPORE – An undischarged bankrupt doctor with a total debt of nearly $48 million owing to his creditors as at May 28 failed to disclose assets worth more than $4 million to the authorities. Goh Seng Heng, 70, who founded the PPP Laser Clinic chain, was fined $43,000 on July 9 after he pleaded guilty…
Blue Air Aviation S.A. has officially entered bankruptcy following a decision approved by its creditors and announced by Infinexa, the Romanian company appointed as judicial administrator. Infinexa, which specializes in restructuring and financing distressed businesses, cited the airline’s failure to secure a strategic investor and its mounting losses as key reasons for initiating the proceedings.…
Get real time updates directly on you device, subscribe now. Subscribe Infinexa, a Romanian entrepreneurial company specializing in restructuring and financing distressed businesses, with €200 million in assets under management, announces the commencement of bankruptcy proceedings for Blue Air Aviation S.A. “The decision to initiate bankruptcy was made following the inability to secure an investor,…
There are few phrases in the modern lexicon more accursed than “software-based car,” and yet, this is how the failed EV maker Fisker billed its products, which retailed for $40–70k in the few short years before the company collapsed, shut down its servers, and degraded all those “software-based cars”: https://insideevs.com/news/723669/fisker-inc-bankruptcy-chapter-11-official/ Fisker billed itself as a…
GAC Fiat Chrysler Automobiles joint venture declared bankrupt MSN Read the original article here
Three years after announcing its withdrawal from the Chinese market, GAC Fiat Chrysler Automobiles (GAC-FCA) has officially succumbed to its financial woes. On July 8, the joint venture announced its inability to reorganise, leading its administrator to file for bankruptcy with the Changsha Intermediate People’s Court in Hunan Province, a move supported by creditors. GAC-FCA’s…
The Mumbai Bench of the National Company Law Tribunal (NCLT) has delivered an order initiating the Corporate Insolvency Resolution Process (CIRP) against Gstaad Hotels Private Limited. The ruling, made on July 8, 2025, by Justice Virendrasingh G Bisht (Retd.), Member (Judicial), and Prabhat Kumar, Member (Technical), stems from a significant financial default. The insolvency petition,…