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Improving insolvency legislation: Lessons from Romania

The views expressed in the Let’s Talk Development blog are solely those of the author(s).  Efficient insolvency legislation is crucial for economic stability and investor confidence helping to ensure that resources are reallocated efficiently, businesses can recover or exit the market smoothly, and creditors are treated fairly. This blog presents lessons from Romania, emphasizing the…

Nikola Initiates Comprehensive Voluntary Chapter 11 Sale Process –

PHOENIX – February 19, 2025 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola…

10,665 Workers Laid Off Due to Sritex Bankruptcy

TEMPO.CO, Solo – A total of 10,665 workers of the textile giant Sritex have been terminated, per January to February 26, 2025, as court declared the company bankrupt. The workers came from four companies under the Sritex Group: PT Sritex Sukoharjo, PT Bitratex Semarang, PT Sinar Panja Jaya Semarang, and PT Primayuda Boyolali. Slamet Kaswanto, the…