Insolvency Guardian Media Centre
Popular DNA testing firm 23andMe has filed for bankruptcy protection, and announced that its co-founder and CEO, Anne Wojcicki, has resigned with immediate effect.
The company will now attempt to sell itself under the supervision of a court.
23andMe said in a press release that it plans to continue operating throughout the sale process and that there “are no changes to the way the company stores, manages, or protects customer data.”
The Information Commissioner’s Office (ICO), the UK’s data protection watchdog, said on Monday it had notified the company of its intent to hand down a £4.59m fine over a 2023 data breach.
The ICO, which launched a joint investigation with Canada’s data watchdog into the genetic testing company last June, said…
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A Sydney accountant linked to some of the country’s most notorious tax fraudsters has avoided millions of dollars in tax debt and unpaid loans by declaring herself bankrupt.
Filomina Kyriacou, one of the co-founders of accountancy firm Wentworth Williams, went bankrupt last week as Commonwealth Bank pursued her for $900,000 and the Australian Taxation Office secured a $3.7 million default judgment against her for unpaid income taxes.
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The liquidator is required by section 36(2) to hold the liquidation estate for the benefit of the creditors
The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has ruled that, in accordance with Section 36 of the Insolvency and Bankruptcy Code, 2016 (Code), all assets shown on the corporate debtor’s balance sheet are part of the liquidation estate and cannot be allocated to creditors outside of the parameters set forth in Sections 52 and 53 of the Code.
The Adjudicating Authority (AA) admitted a petition under section 7 of the code against M/s Vegan Colloids Ltd (Corporate Debtor) on…
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Jervois Global Enters Voluntary Administration with KPMG at Helm TipRanks
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Thailand Can Ease Household Debt Burden by Using Coordinated Approach International Monetary Fund
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Banks ease mortgage rules for HECS debtors Australian Broker News
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26 Firms Eye JP Associates Construction World
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News
One of Canberra’s last fully bulk-billed clinics has entered voluntary administration after struggling to cover costs and attract enough GPs.
The Interchange Health Co-operative clinic in Canberra was placed into voluntary administration this week after experiencing ‘intense pressure’.
Another general practice has been forced to shut its doors until further notice after being met with challenges around income and retaining enough doctors under its fully bulk-billed business model.
It is a loss the RACGP says once again demonstrates how vital funding is for the sector.
The Interchange Health Co-operative (IHCO) in…
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Byju’s founder Byju Raveendran has filed an FIR against former RP Pankaj Srivastava, EY employees, and Glas Trust in the company’s insolvency proceedings. (File photo)
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UK bill aims to speed debt restructuring for poor countries Reuters
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Clients of a controversial online “brand building” company which shut last week were told to pay up by March 31 – the day its founder announced its liquidation.
FBA Brand Builder founder Darren Campbell announced via social media last week the company would be no more, blaming a fall in revenue caused by negative coverage of the business in the media and online.
Clients of the company, which claimed to help people set up businesses on Amazon, have now been left in limbo with many signing up in the weeks before its collapse.
Those on who had signed up to its ‘Growth’ programme were issued with a notice by FBA Brand Builder on Monday March 24 to pay their £150 per month retainer fee by the end of the month – the same day that the…