Insolvency Guardian Media Centre
After Chapter 11 bankruptcy, discount retailer shares closure news MSN
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Online retail liquidation company opens second San Antonio location The Business Journals
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Corporate insolvencies rise sharply: Cause for concern or normalization after the pandemic years? German Economic Institute (IW)
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A southern-based firewood business has blamed shortage of wood, staffing difficulties, theft of cut wood and Covid-19 for its insolvency position.
KD Firewood, which originated in Invercargill and later took over Wanaka Firewood, was put into liquidation by a special resolution of shareholders earlier this month.
The company, which was incorporated in October 2019 and ceased trading at the end of last year, was jointly owned by Kerry John Dixon and Owen Fredrick Dixon who were also its directors.
In his first report, liquidator Iain Nellies of Insolvency Management Ltd said the total amount owed to creditors was just over $855,000 — which included unsecured creditors of $126,556.
With total net assets of $659,350, that left the…
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Roberts Co’s Victorian arm went into administration owing more than 100 trade creditors up to $50 million in debts – mostly current progress claims – creditors heard in their first meeting with administrators on Wednesday.
Total liabilities went up to about $186 million if obligations to all bond holders and contingent claims for liquidated damages due to delays were included, but such a scenario was less likely, sources present at the meeting told The Australian Financial Review.
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Finance Minister Muhammad Aurangzeb has called for reforms in international financial institutions to better address the debt crisis in emerging economies like Pakistan.
Speaking at a high-level session at the Boao Forum for Asia Annual Conference 2025 in China, the finance minister stressed the need for debt relief and financial justice through restructuring sovereign debt mechanisms to prevent cyclical debt crises.
He said debt crises are impeding the economic growth of many emerging economies, including Pakistan, read a statement released by the Finance Division on Wednesday.
Noting that the global debt has soared past $100 trillion, with over 60% of low-income countries at risk of debt distress, Aurangzeb called for reforms in…
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The parent company of clothing brand Jeanswest has gone into voluntary administration, with plans to shut all of its stores putting 600 jobs at risk.
Harbour Guidance Pty Ltd, a subsidiary of a Hong Kong company owned by clothing and textiles mogul Chun Fan Yeung and his family, had previously placed Jeanswest into administration five years ago, and then bought it back.
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Jeanswest has collapsed, entering voluntary administration The Daily Aus
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23andMe, a formerly high-flying genetic testing company, announced Sunday that it was declaring bankruptcy and that it would seek a buyer.
The company also said CEO and co-founder Anne Wojcicki is resigning immediately and will be replaced by Chief Financial and Accounting Officer Joe Selsavage as interim chief executive.
23andMe moved in November to slash 40% of its workforce as part of a restructuring plan, a step that came roughly two months after its entire board resigned.
“We expect the court-supervised process will advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold liabilities,” 23andMe Chair Mark Jensen said in a…
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Ola Electric settles dispute with Rosmerta, petition withdrawn Tech in Asia
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Every taxpayer in the country will get an unlooked-for cut under a $17 billion promise at the centre of this year’s federal budget, although will have to wait more than a year for it as the government attempts to balance the demand for cost-of-living relief with the need to manage a budget that is now firmly in deficit.
Today’s budget handed down by Treasurer Jim Chalmers shows the national accounts have, for the first time since 2022, fallen into the red.
The $27.6 billion deficit is worse by some $700 million than what was forecast just three months ago in the Mid-Year Economic and Fiscal Outlook (MYEFO), but an improvement on the last budget’s prediction of $28.3 billion.
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K-Pop Scandal-Ridden Burning Sun Entertainment Goes Bankrupt After Assets Fall Below 500 Million KRW
On March 25, legal sources stated that the Seoul Bankruptcy Court’s Division 13 declared simplified insolvency for the company on March 18 pushing it into liquidation. The procedure comes into play when the debtor’s remaining assets are less than 500 million KRW (approximately $342,000).
For the unversed, former BIGBANG member Seungri was an internal director at Burning Sun, the place where the alleged Burning Sun incident emerged in 2018.
About Burning Sun
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