Lilium, a German startup that once led the charge in electric aircraft innovation, has ceased operations and laid off approximately 1,000 workers. After nearly 11 years of development and raising over $1 billion in funding, the company failed to secure the financing needed to continue operations or exit insolvency proceedings. The news was first reported…
The New Delhi bench of the National Company Law Tribunal has admitted the insolvency petition filed by operational creditor Metro Tyres Limited against Hero Electric Vehicles Pvt. Ltd. The dispute Centers around an outstanding payment of Rs. 1.85 crore for cycle tyres and tubes supplied by Metro Tyres to Hero Electric. Hero Electric claims the…
Its liquid-cooled direct current fast charging equipment was designed to be compatible with a wide number of electric car brands, including Tesla, BYD and others across the world, having expanded to more than 47 countries with 13,000 DC (direct current) chargers in operation. Read the original article here
Salt & Lime directors, wives ‘paid $1m-plus’ before collapse The Australian Read the original article here
By NEIL HARTNELL Tribune Business Editor [email protected] TWO Nassau resorts, and their Bahamian holding entities, are not caught by yesterday’s “last resort” bid from Baha Mar’s contractor to protect its US arm from Sarkis Izmirlian’s “crippling” $1.6bn damages win. CCA Construction Inc, the contractor’s New Jersey-based entity, confirmed it had sought Chapter 11 bankruptcy protection…
Germany’s Borgward brand declared bankrupt in China Automotive News Read the original article here
Buyer found for bankrupt retailer Blokker, but uncertainty remains for 3,500 workers | NL Times Skip to main content Read the original article here
230 Companies at Risk of Insolvency This Year, FSS Credit Risk Assessment Reveals BusinessKorea Read the original article here
A&O Shearman advised Peruvian mining company Volcan Compañía Minera S.A.A. and its subsidiaries in connection with a comprehensive refinancing plan to improve the company’s liquidity position and capital structure. The transactions involved approximately USD765m in debt and included an exchange offer and consent solicitation of its USD365m 4.375% Senior Notes due 2026 for the newly issued…
The National Company Law Appellate Tribunal (NCLAT) on 17th December rejected a plea by the former promoters of real estate developer Spaze Towers, seeking to confine the Corporate Insolvency Resolution Process (CIRP) to a single project, Spaze Arrow. The appellate tribunal upheld the decision of the National Company Law Tribunal (NCLT), which had initiated insolvency…