Thomas Alexander Ross, 44, racked up debts into the tens of millions. Most creditors were paid nothing when bankruptcy trustees published their final report in August 2024, as the sale of his assets didn’t even cover what he owed to banks, who get first dibs on any cash raised. So they were horrified to discover…
Selina Operation Israel, a holding company that owned multiple subsidiaries previously operating hostels and hotels across Israel, has petitioned the court for dissolution, effectively seeking the liquidation of the group. The company ceased operations in August 2024 after its UK-based parent company, Selina Hospitality PLC, entered insolvency proceedings in England, leading to the appointment of…
Jersey – Creditor-Driven Winding up Regime in Jersey Lexology Read the original article here
#SHOWBIZ: HK actor Vinci Wong declared bankrupt after allegedly owing RM1.6 million New Straits Times Read the original article here
Integrated steel mill Liberty Galati in Romania (formerly Sidex), with a liquid steel capacity of 3 million tonnes, part of steel group Liberty, announced on March 4 that it entered the pre-insolvency procedure “to stabilise the business, optimizing the allocation of resources and opening up new investment opportunities.” The measure is taken in the context…
Former pals left struggling by a Surrey property developer’s bankruptcy were furious when footage emerged of him gambling in Las Vegas while their bills remained unpaid. Thomas Alexander Ross, 44, racked up debts into the tens of millions. Most creditors were paid nothing when bankruptcy trustees published their final report in August 2024, as the…
The National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against Coffee Day Enterprises. The company, which runs CCD chains, in an exchange filing, said that the NCLAT allowed its appeal and set said last year’s National Company Law Tribunal (NCLT) order initiating the insolvency proceedings. In August 2024, NCLT ordered insolvency proceedings…
In a dramatic turn of events, approximately 60 subsidiaries of business process automation firm Exela Technologies Inc. have filed for Chapter 11 bankruptcy in Texas, weighed down by a staggering $1.3 billion in debt. The move, which follows years of financial turbulence, includes a prearranged restructuring plan designed to stabilize the company’s operations and navigate…
CCI Approves JSW Energys Acquisition Of KSK Mahanadi Power Company NDTV Profit Read the original article here
Infinexa, a Romanian entrepreneurial company specializing in the restructuring and financing of distressed businesses, managing assets worth over EUR 155 million, announces that in 2024, Hidroconstrucția, a company undergoing insolvency proceedings, distributed over EUR 16 million to its creditors. Of this amount, EUR 10.7 million came from asset sales, while EUR 5.3 million was generated…