Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
These countries generate 40% of global GDP but are home to 60% of the world’s poor. UNCTAD’s chief urges debt relief and trade reform to help them escape the middle-income trap.
Energy prices are rising faster than benefits, wages or pensions, meaning the amount that UK households owe to energy suppliers – their energy debt – is also likely to grow.
On April 1 2025, the energy price cap, which is the maximum amount suppliers can charge, will rise by 6.4%. This is the third consecutive quarterly increase, and a rise of 9.4% compared with the limit set the previous April, which amounts to an increase of £159 on the typical bill.
Meanwhile, benefits such as universal credit are being increased by only 1.7%, which will mean those on low incomes will find it challenging to pay for the energy they need. The increase is so low because, every April, benefits rise in line with the rate of overall inflation for the…
In January he was banned from being a company director for nine years for his involvement in a scheme that saw £7.6 million of assets go missing.
At Dunfermline Sheriff Court on March 26, a petition was presented on behalf of HMRC asking that ATR Sawmill be wound up and liquidators appointed.
The firm, which was primarily involved in sawmilling, planing of wood and the manufacture of wooden containers and items made out of cork, straw and plaiting materials, only has one active director – Taylor.
All parties claiming an interest must contact the court within eight days.
Stockholm | Battery cell maker Northvolt has filed for bankruptcy in Sweden, the company said on Wednesday, marking one of the country’s largest corporate failures and effectively ending Europe’s best hope of developing a rival to challenge China.
The Swedish company has received more than $US10 billion ($15 billion) in equity, debt and public financing since its 2016 inception, and its biggest owners include Volkswagen with a 21 per cent stake, and Goldman Sachs with 19 per cent.
The former national phone company of Peru, advised by lawyers from White & Case LLP, is navigating a Chapter 15 case in Texas to obtain recognition of its Peruvian insolvency proceedings, which…
The company behind Bower Place shopping centre’s Sunterra Market has filed notice for protection under bankruptcy and insolvency laws to give it time for financial restructuring.
Sunterra Farms Ltd., Sunterra Food Corp., Sunterra Quality Food Markets Inc., Sunwold Farms Ltd. and Trochu Meat Processors all filed notice on March 24 to creditors that they were going to make proposals under the federal Bankruptcy and Insolvency Act. Calgary-based Harris and Partners has been appointed proposal trustee.
“Please be advised that the Company is not bankrupt and has availed itself to a procedure whereby an insolvent person, with creditor and Court approval, restructures its financial affairs,” say the notices to creditors for the five…
The company behind Bower Place shopping centre’s Sunterra Market has filed notice for protection under bankruptcy and insolvency laws to give it time for financial restructuring.
Sunterra Farms Ltd., Sunterra Food Corp., Sunterra Quality Food Markets Inc., Sunwold Farms Ltd. and Trochu Meat Processors all filed notice on March 24 to creditors that they were going to make proposals under the federal Bankruptcy and Insolvency Act. Calgary-based Harris and Partners has been appointed proposal trustee.
“Please be advised that the Company is not bankrupt and has availed itself to a procedure whereby an insolvent person, with creditor and Court approval, restructures its financial affairs,” say the notices to creditors for the five…
Authum Investment & Infrastructure Ltd. (BSE: 539177, NSE: AIIL) has been declared the Successful Resolution Applicant (SRA) for Vas Infrastructure Limited (VIL), a BSE-listed real estate firm undergoing Corporate Insolvency Resolution Process (CIRP) since 11 March 2024. The company accepted a Letter of Intent (LOI) dated April 01, 2025, from the Resolution Professional, subject to approvals from the National Company Law Tribunal (NCLT), Mumbai Bench.
Key Details:
Deal Value: Rs. 86.04 crore for 94.99% equity post-capital reduction under the resolution plan.
Target Business: VIL specializes in redeveloping dilapidated buildings in Mumbai suburbs but reported negative turnover of Rs. 0.42 crore in…
Millions in outstanding loans could mean the end of satellite casino operator Macau Legend Development.
Macau satellite casino operator Macau Legend Development (MLD) has posted losses for 2024 totalling HK$667.23 million (£66.7 million/€80 million/$86 million), up from just HK$4.9 in 2023.
Net liabilities of HK$2.51 billion, including loans of HK$2.41 billion, “will be due for repayment within the next 12 months”, MLD acknowledged in a 28 March filing.
Past failure to comply with “certain loan covenants” has rendered loans of HK$2 billion “immediately repayable if demanded by the creditor banks”, MLD added. The Macau-based firm said those loans “may not be repayable. Even the current HK$166.4 million in…
New Delhi: Gambling debt led the main accused to murder 64-year-old businessman Rohit Alagh at his residence in south Delhi’s Malviya Nagar last year, according to a Delhi Police chargesheet. Alagh was discovered dead at his residence in Panchsheel Park on Nov 25, 2024. Following a police probe, the prime suspect, Abhay Sikarwar, was arrested in west Delhi. The 320-page chargesheet, which was filed at Saket Court last month, has named him as the sole accused and cited 30 witnesses in the case. According to sources, two weeks before the murder, Sikarwar, facing repeated calls to repay his gambling debts, started planning a burglary at Alagh’s house. He later told cops he owed Rs 12,000. However, this is still under investigation. Apart…
