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.
Tim Petruk – Mar 25, 2025 / 9:06 am | Story: 540505
Photo: Castanet
Shoppers hunt for bargains at the Hudson’s Bay store in Aberdeen Mall on Monday, March 24, the first day of liquidation for Canada’s oldest company, which is ceasing operations in Kamloops after more than 200 years.
Shoppers were scoping out deals at the Hudson’s Bay store in Aberdeen Mall on Monday, the first day of liquidation for Canada’s oldest company, which has roots in Kamloops going back more than 200 years.
Hudson’s Bay Company was given court approval last week to begin liquidating all but six of its 80 department stores, as well as 16 specialty stores — a move described as “absolutely devastating” by the Kamloops…
Canadians headed to Hudson’s Bay stores Monday in hopes of scooping up the first of the retailer’s liquidation deals, but many left confused about whether the markdowns had even begun. Anne Gaviola has this story and more in Business Matters for March 25, 2025.
Debt forgiveness can help alleviate the pressure of credit card debt.
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Heading into April 2025, credit card debt continues to saddle finances in households across the country. Consumers ended 2024 carrying unprecedented levels of credit card debt — $1.21 trillion in the fourth quarter of 2024, up $45 billion over the previous quarter. But it’s not just that consumers are carrying more credit card debt than ever. The percentage of people who were at least 90 days late on a credit card payment went up in the last…
Jaiprakash Associates Limited (JAL), the flagship company of the Jaypee Group, is at the centre of one of India’s most high-profile corporate insolvency cases, attracting significant interest from a wide array of bidders.
CNBC-TV18 has learnt that at least 26 prominent entities, including some of India’s largest conglomerates such as the Adani Group, JSW Group, Welspun, Vedanta Group, as well as Oberoi Realty, Dalmia Bharat, and Oaktree Capital are likely to submit Expressions of Interest (EOIs) to acquire the debt-laden company under the Insolvency and Bankruptcy Code (IBC).
The submission deadline for EOIs lapsed on March 25. Given the scale and strategic importance of JAL’s assets across multiple sectors and the large debt at…
Wenzel’s the Bakers is in jeopardy after HMRC launched a winding-up petition against the company, potentially forcing it into liquidation.
A winding-up petition can be issued to take a company to court if it cannot pay its debts and, if successful, company assets can be sold to pay creditors – also known as compulsory liquidation.
The loss of the much-loved bakery would be felt in high streets across Hertfordshire, with Wenzel’s stores in Stevenage, Hitchin, St Albans, Radlett, Harpenden, Welwyn Garden City and Hemel Hempstead.
A Wenzel’s spokesperson was keen to reassure customers, saying: “The winding-up notice is in relation to ongoing discussions with HMRC regarding an outstanding balance, however, we are…
Wealthy nations fuelled their industrial growth and urbanisation by burning fossil fuels. This was the biggest cause of climate change, which now affects every country in the world, even developing countries in sub-Saharan Africa which are responsible for less than 4% of global greenhouse gas emissions. Wealthy nations owe a climate debt.
Africa is urbanising too, and needs funds to house nearly a billion additional people by 2050 and to start adapting its cities to climate change. Urban economist Astrid Haas reviews a new report by the non-governmental organisation Action Aid on climate debt. She discusses the climate debt owed to Africa and why South Africa’s presidency of the G20 is an opportunity to push for better access…
Ola Electric Technologies Private Limited reached a financial settlement with the Rosmerta Group, leading to the withdrawal of insolvency petitions previously filed against the company. The resolution was confirmed in a regulatory filing on Tuesday.
The dispute originated when Rosmerta Digital Services and Rosmerta Safety Systems filed insolvency petitions against Ola Electric Technologies, citing unpaid dues, reported Business Standard. According to reports, Rosmerta Digital Services claimed outstanding payments of over Rs 22 crore (approximately $2.5 million), while Rosmerta Safety Systems sought nearly Rs 2.5 crore in dues.
On Tuesday, Ola Electric announced that the matter has been settled amicably….
Ola Electric Technologies Private Limited, a subsidiary of Ola Electric Mobility Limited, has settled its financial dispute with the vehicle registration agency Rosmerta Group, leading to the withdrawal of insolvency petitions filed against it.
The company confirmed the resolution in a regulatory filing on Tuesday, stating that all outstanding payments have been cleared.
“We wish to inform you that Ola Electric Technologies Private Limited has amicably settled all applicable dues with the Rosmerta Group…There are no further claims or disputes pending between the parties in this matter,” the company said in an exchange filing.
