The Office of the Registrar of Companies says its administrative role in salvaging companies in financial distress is actively being rolled out for protection of local businesses. Under the Corporate Insolvency and Restructuring Act 2020, the Registrar of Companies is empowered to have registered insolvency practitioners to aid in administration of companies on the brink…
Builder.ai developed AI tools to streamline app and website development. (Photo: Shutterstock) London-based technology start-up Builder.ai, backed by investors including Microsoft, has entered insolvency proceedings amid significant financial challenges. This decision follows a recent restatement of its revenue, and the acknowledgment of issues related to past leadership. The company, known for its claim that its…
SUMMARY Builder.ai’s parent, Engineer.ai Corporation, will be “entering into insolvency proceedings” and has appointed an administrator to “manage the company’s affairs” Viola Credit, which extended $50 Mn debt to the company last year, seized $37 Mn from Builder.ai’s accounts leaving it with just $5 Mn CEO Manpreet Ratia said the company’s cash reserves had dwindled…
The NDIS regulator is investigating a Queensland-based disability housing and support provider – which collapsed in March with more than half a million dollars in tax debt — after residents made complaints alleging that their support needs were not being fully met. Several former residents and staff claim the company, Core & Capacity Disability Support…
Steel firm at risk of insolvency has a potential buyer TheBusinessDesk.com Read the original article here
Today’s company insolvency statistics show accommodation and food services insolvencies rose 4% month-on-month from 271 in February 2025 to 282 in March 2025. However, insolvencies were down 10% from 3,770 in the 12 months to March 2024 to 3,407 in the 12 months to March 2025. Saxon Moseley, partner and head of leisure and hospitality…
A South Yorkshire steel company has avoided insolvency for the moment after a potential buyer was found, the High Court has heard. Speciality Steel UK (SSUK), part of the Liberty Steel Group founded by Sanjeev Gupta, employs 1,450 people and has plants in Rotherham and Sheffield. Lawyers representing SSUK said at a hearing on Wednesday…
Following the hearing, Jeffrey Kabel, Liberty Steel chief transformation officer, said the court’s decision was a “positive development”. The company would use the time to “finalise options, including a sale of the business” while continuing its debt restructuring plans, Mr Kabel said. “We remain committed to finding the right solution that preserves EAF [electric arc…
Builder.ai developed AI tools to streamline app and website development. (Photo: Shutterstock) London-based technology start-up Builder.ai, backed by investors including Microsoft, has entered insolvency proceedings amid significant financial challenges. This decision follows a recent restatement of its revenue, and the acknowledgment of issues related to past leadership. The company, known for its claim that its…
A court case that could have led to Liberty’s Speciality Steel business going into insolvency has been adjourned until July. Rothbiz reported on a winding-up order being due this week regarding Liberty Speciality Steel, which has operations in Rotherham and Stocksbridge.. The hearing has been adjourned to July 16, with discussions ongoing to keep the…