When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill. The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a U.S.-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart and had been profitable at least as recently as 2016.

A decision by a Chinese court in Dalian to place Chuming into liquidation in 2021, a three-year process during which the company auctioned off assets and repaid debt, meant U.S. shareholders had to drop their pursuit of unpaid dividends.

For Hill, who turns 86 in May, the loss of his funds has been painful.

“I feel cheated,” he said. “I…

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A law firm representing some Hudson’s Bay Co. employees is raising the alarm about long-term disability payments, which are paid out of the company’s cash and are uninsured, leaving people at risk of losing their benefits as the retailer liquidates its operation.

“This is a ticking time bomb,” said Andrew Hatnay of Koskie Minsky LLP, which he says has been retained by more than 250 current and recently terminated Hudson’s Bay employees, as well as retirees, seeking representation as the retailer attempts to restructure or sell part of the business.

The issue, Mr….

Hudson Regional Hospital has officially taken control of Hudson County’s struggling CarePoint Health System, establishing a new, countywide health network.

On Friday, a federal bankruptcy court judge confirmed CarePoint’s plan to exit bankruptcy and hand over control of its three hospitals ― Christ Hospital in Jersey City, Bayonne Medical Center and Hoboken University Medical Center — to Hudson Regional, according to a press release.

The management agreement makes Hudson Regional the official owner and operator of all three CarePoint hospitals, which were on the brink of closing after accumulating massive debt. Hudson Regional has owned the Bayonne Medical Center property since July 2020.

“This is a threshold moment for Hudson…

By Wandoo Sombo

The Business Recovery and Insolvency Practioners Association of Nigeria (BRIPAN) is collaborating with the Federal High Court to improve the efficiency of insolvency procedures in the country.

 The President of the association, Mr Chimezie Ihekweazu, SAN, made this known on Monday in Abuja when he led members of BRIPAN on a visit to the Chief Judge (CJ) of the court, Justice John Tsoho.

Ihekweazu said that the collaboration is aimed at enhancing business recovery administration.

He said that the association had been looking for ways to bring ailing companies back to life adding that the step the court took in establishing a solvency unit was a breath of fresh air as it would go a long way in ensuring the survival…

A businessman has come under fire after his Sandbanks restaurant went into liquidation with over £600,000 of debts, including thousands owed to local suppliers.

Andy Price abruptly closed the The Tandy eatery in January with the loss of all the staff after running into financial troubles.

The restaurant, which is next to Rick Stein’s dining venue on the millionaires row in Poole, Dorset, is reportedly in debt to 52 different creditors.

They include the HMRC who are owed £164,000 and a host of local food producers who are due a thousands of pounds each.

But although RK Peninsula Ltd, the company name for The Tandy, fell into voluntary liquidation last month, The Tandy website is advertising for new jobs on its website for an Easter…

The National Company Law Tribunal (NCLT), Hyderabad Bench, has approved a resolution plan for M/s Manjeera Retail Holdings Private Limited (MRHPL). The plan, submitted by M/s Lulu International Shopping Malls Private Limited (LISMPL), received unanimous support from the Committee of Creditors (COC).
The resolution plan entails a total amount of ₹318.42 crores, allocated to secured financial creditors, operational creditors, and other debts. Part of the funds will address the claim of the Telangana Housing Board (THB) for ownership transfer.
The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by M/s Catalyst Trusteeship Limited. The COC, consisting of Catalyst Trusteeship Limited…

As you age, there will be plenty of items to deal with, from health issues to financial ones. And while your ability to deal with your health may sometimes be out of control, your financial health is still very much controlled by you. The decisions you make and the approach you take can go a long way toward improving your golden years, allowing you to focus on the items that matter most to you. To…

Why we’re doing this

After many years running the Eternity Playhouse, Darlinghurst Theatre Company has ceased operations. In July 2024, creditors resolved to place the company into liquidation.

Eternity Playhouse will remain a theatre and will be back in operation soon.

INDIANAPOLIS — New numbers show millennials are drowning in debt. And they’re not alone. WRTV Investigates found a 25% increase in Hoosier consumers seeking help with their debt.

Olarinde Dominic is a married Indianapolis father with one child.

WRTV

“I’m an IT support specialist,” said Dominic.

Dominic, 36, was born in 1989, which makes him a millennial— the generation of adults born between 1981 and 1996. New data shows they’re struggling with debt earlier than any generation before it. Dominic is grappling with significant student loan debt, as well as monthly bills.

“Sometimes you get so overwhelmed,” said Dominic. “I’m working extra hours to even go above where I am right now….

The Official Receiver’s investigation found Sonia Simkins failed to pay £75,000 into the NHS pension fund despite diligently deducting contributions from staff.

 Simkins, 54, of Foxglove Way, Dudley, ran Hawes Lane Surgery in Rowley Regis as a sole trader leaving the practice vulnerable to her disastrous financial decision-making.

In July last year, 4,000 shocked patients were told to find alternative healthcare provision after a bankruptcy order against her forced the closure of the practice. Many elderly and infirm patients were forced to travel long-distances for their healthcare due to the closure. 

A subsequent investigation by the Official Receiver found Simkins had deducted pension contributions from staff wages, but failed to…