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German battery pioneer CustomCells has filed for insolvency proceedings for the group’s key operating entities located in Itzehoe and Tübingen. The competent court in Kiel has appointed attorney Dr. Malte Köster, a partner at the law firm WILLMERKÖSTER, as the preliminary insolvency administrator of the operating companies. WILLMERKÖSTER is one of the leading insolvency law firms in Germany. The holding company of the CustomCells Group is not affected by the insolvency filing at this time.

The financial difficulties at CustomCells stem primarily from the insolvency and payment default of its largest customer, aerospace company Lilium. Outstanding receivables in the tens of millions of euros remained unpaid and could no…

 New York City Mayor Eric Adams, New York City Department of Consumer and Worker Protection (DCWP) Commissioner Vilda Vera Mayuga.

Including New York City Department of Citywide Administrative Services (DCAS) Commissioner Louis Molina today announced a new effort to help more than 100,000 city employees enroll in the federal government’s Public Service Loan Forgiveness (PSLF) program and Income Driven Repayment (IDR) plans to reduce or cancel an estimated $360 million in student loan debt. Through a partnership with Summer — a leading company that helps borrowers navigate student loan repayment options — New York City will provide public servants and eligible family members with free access to student loan experts and…

On May 5, 2025, Siewert & Kau Computertechnik GmbH, based in Bergheim, filed for insolvency at Cologne Local Court. Lawyer Marion Rodine was appointed as the provisional insolvency administrator. The company’s online store and cloud marketplace were no longer available the week before the insolvency application was filed, leading to speculation about financial difficulties. In a letter to business partners, Siewert & Kau informed them of the termination of a bank account, which led to further terminations by other banks. Despite these challenges, the company intends to continue business operations and is working to restore its ability to act.

Siewert & Kau was founded in…

The five-year relief period is over, and defaulted student loan borrowers are left with two options: Pay up or face the consequences.

On Monday, President Donald Trump’s administration officially restarted the process of collecting defaulted student loan payments. This marks the end of a yearslong pause that started under Trump in 2020 and continued under the Biden administration. During the pause, borrowers who were behind on their student loan payments did not face any penalties.

The Department of Education announced two weeks ago that the pause would end and that borrowers who didn’t make payments could eventually face seizure of federal benefits like Social Security, wage garnishment, and hits to their…

All insolvency professionals appreciate that Section 236 of the Insolvency Act 1986 (“s236”) grants significant investigatory powers to office-holders into a company’s business dealings, affairs and director conducts, including the power to obtain third-party records and information.

As technology now largely replaces a company’s paper-based records, and has become an integral part of business operations, the powers of office-holders under s236 has also evolved to match the new realities of this digital era. In this alert, we explore how the emergence of online instant messaging platforms, email accounts and data storage has transformed insolvency investigations, necessitating a more sophisticated approach that balances…

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Vinyl Me, Please has given an update on the future of the company.

The vinyl subscription service was launched in 2012, becoming a huge favourite with music fans. Running a number of themed monthly drops – from hip-hop to classic fare, via new releases – Vinyl Me, Please expanded quickly.

A proposed pressing plant seemed to cause financial issues, and last year fans started to report a delay in deliveries – often, nothing was getting through.

With a huge backlog of orders the company was profile by the Denver Post – Vinyl Me, Please is based in the city – and the paper spoke to a number of disgruntled subscribers.

Meanwhile, a Reddit user shared…