JAKARTA – The president director of bankrupt Indonesian textile giant Sritex has been arrested as part of a corruption investigation, Indonesia’s Attorney-General’s Office (AGO) said on May 21. The AGO confirmed to Reuters that the arrest of Mr Iwan Kurniawan Lukminto was due to alleged irregularities related to a bank loan provided to Sritex. Local…
[JAKARTA] Indonesia’s collapsed textile giant Sri Rejeki Isman (Sritex) is facing potential delisting from the Indonesia Stock Exchange (IDX) after the Attorney General’s Office (AGO) named a former executive as a suspect in a corruption case involving the alleged misuse of bank loan facilities. IDX director I Gede Nyoman Yetna said on Thursday (May 22)…
Another 2003 Rugby World Cup winner has been declared bankrupt following financial struggles Ruck.co.uk Read the original article here
India’s Insolvency & Bankruptcy Code (IBC) is showing stronger results, with two cases now getting resolved for every one that goes into liquidation — a complete reversal of the situation in 2017-18, when five companies went into liquidation for each one resolved, the latest data showed. This change has been driven partly by a decline…
In April 2025, the number of registered company insolvencies in England and Wales was 2,053, 3% higher than in March 2025 (1,996) but 5% lower than April 2024 (2,163) with the construction industry experiencing the highest number of insolvencies in the 12 months to March 2025 at 4,111, making up 17% of all industry cases. James…
AI startup Builder.ai enters insolvency proceedings Investing.com Australia Read the original article here
Workers at Microsoft-backed UK unicorn Builder.ai, which has fallen into insolvency, said today they are “still in shock” at the turn of events. Shalini J, a senior software engineer at Builder.ai, said she was “still in shock”. The software engineer was one of many Builder.ai workers who took to LinkedIn, posting about the “unexpected news”. She said:…
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Read the memo Builder.ai CEO sent investors blaming lenders for company’s collapse Sifted Read the original article here
Another 2003 Rugby World Cup winner has been declared bankrupt following financial struggles Ruck.co.uk Read the original article here