People walk by a Claire’s store on December 11, 2024 in San Rafael, California. Justin Sullivan | Getty Images Tween retailer Claire’s filed for bankruptcy protection for the second time in seven years on Wednesday in the hopes it can reorganize its business and stave off liquidation. The mall-based boutique, long known for its ear…
Despite tens of millions of revenue, a $230,000 ransomware fee has seemingly taken out one of Germany’s leading insurance firms. As reported by Wa.de and Golem.de (via our friends at Tom’s Hardware), Einhaus Group was originally targeted back in 2023. Hacking group Royal reportedly told Einhaus Group founder Wilhelm Einhaus, “We’ve hacked you. All further…
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Australia is experiencing a sharp rise in business insolvencies, driven by cash-flow stress. More than 11,000 businesses entered external administration in FY 2023-24, a 39 per cent increase from the previous year and the highest number on record. By mid June 2025, the total number of insolvencies had reached 14,105. This surge is hitting small businesses…
SPAL are declared bankrupt due to €10 million debt, brand to be auctioned off Tribuna.com Read the original article here
The growing consciousness of the Indian Judiciary – IBC vs Slum Act Bar and Bench Read the original article here
Representative image created by AI NEW DELHI: The Competition Commission of India (CCI) on Tuesday approved Dalmia Bharat‘s proposal to acquire the debt-laden Jaiprakash Associates Ltd (JAL), which is going through the insolvency resolution process. Under the provision of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is a key requirement…
To successfully qualify for Safe Harbour protection, directors and the company must also meet the various qualifying criteria. The most significant of which is that one or more courses of action needs to be reasonably likely to lead to a better outcome for the company (than the appointment of an administrator or liquidator to the…
As a leading professional services firm, KPMG Australia (KPMG) is committed to meeting the requirements of all our stakeholders – not only the organisations we audit and advise, but also employees, governments, regulators and the wider community. We strive to contribute to debate that seeks to develop a strong and prosperous economy and welcome the…
A Receiver may be appointed by a secured creditor, or in special circumstances by the Court, to take control of the assets that are the subject of the security.The charge, or security, held by the secured creditor under which the appointment of a Receiver is made may comprise: a non-circulating security interest (fixed charge) over…