Insolvency Guardian Media Centre
R3 responds to February 2025 insolvency statistics The Yorkshire Post
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Ola Electric shares is set to attract investor attention following a significant development with its creditor Rosmerta Group. The company has completely settled its outstanding dues, leading to the withdrawal of an insolvency petition.
In an early morning exchange filing, Ola Electric Technologies announced that it has “amicably settled all outstanding dues” with Rosmerta Group. As a result, Rosmerta has filed a memo to withdraw the insolvency petitions previously submitted to the National Company Law Tribunal (NCLT) in Bengaluru.
“Ola Electric has amicably settled all outstanding dues between its wholly owned subsidiary, Ola Electric Technologies Private Limited, and the Rosmerta Group. The matter now stands fully resolved,” the firm…
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Ola Electric shares is set to attract investor attention following a significant development with its creditor Rosmerta Group. The company has completely settled its outstanding dues, leading to the withdrawal of an insolvency petition.
In an early morning exchange filing, Ola Electric Technologies announced that it has “amicably settled all outstanding dues” with Rosmerta Group. As a result, Rosmerta has filed a memo to withdraw the insolvency petitions previously submitted to the National Company Law Tribunal (NCLT) in Bengaluru.
“Ola Electric has amicably settled all outstanding dues between its wholly owned subsidiary, Ola Electric Technologies Private Limited, and the Rosmerta Group. The matter now stands fully resolved,” the firm…
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23andMe says customer data ‘remains protected’ as it seeks new ownership. Photo: Shutterstock
DNA testing company 23andMe has filed for bankruptcy and is seeking new ownership after its CEO resigned following multiple failed takeover attempts.
The US-based firm, which has used saliva samples to identify more than 15 million customers’ ancestry and potential predispositions to health issues, cut around 40 per cent of its workforce last year and has seen weakening demand since a 2023 data breach.
Customers have been told their personal data “remains protected” as the company seeks a buyer for a court-supervised sale.
Company chair Mark Jensen said 23andMe was “committed to continuing to safeguard customer data and…
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UNDP Debt Update: Development gives way to debt UNDP
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The former star of Channel 4’s SAS: Who Dares Wins and his wife Emilie were the directors of Sway and Starting Limited before it went into liquidation at the end of 2022.
The Government’s Insolvency Service found that the couple were taking millions of pounds out of the company at the same time that taxes were not being paid.
Some £385,000 in VAT and £869,000 in corporation tax was owed between 2019 and 2022.
But the pair had taken out about £3 million from the company in the form of a directors’ loan by the time it went into liquidation at the end of 2022, the service said.
Sway and Starting, which was described as offering media representation services, was set up to manage income from Middleton’s television and media…
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Toronto – Canada’s oldest company will begin going-out-of-business proceedings for nearly all of its 80 Hudson’s Bay stores today.
Hudson’s Bay Company ULC, the Canadian entity comprising the retailer Hudson’s Bay and TheBay.com, has been given permission by the temporarily permission by the Ontario Superior Court of Justice to exclude six stores from the initial list.
The pause will give the company time to negotiate with landlords and stakeholders about restructuring the business. Those locations include:
- Downtown Queen Street, 176 Yonge Street, Toronto, ON
- Yorkdale Shopping Center, Toronto, ON;
- Hillcrest Mall, Richmond Hill, ON;
- Downtown, Montreal, QC;
- Carrefour Laval, Laval, QC;
- Pointe-Claire, QC.
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BENGALURU: Billionaire Ranjan Pai-backed Aakash Educational Services (AESL) has approached the National Company Law Tribunal seeking an inquiry into alleged discrepancies within the insolvency resolution proceedings of Byju’s parent Think & Learn. The company has urged the tribunal to direct the Insolvency and Bankruptcy Board of India to investigate the conduct of key parties involved in the proceedings.
The petition names former interim resolution professional Pankaj Srivastava, current resolution professional Shailendra Ajmera, Glas Trust Company, corporate affairs ministry, IBBI, and the Registrar of Companies, Bengaluru, as respondents. Glas Trust, Ajmera, and Srivastava did not respond. The MCA, IBBI, and the RoC, Manipal Health…
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Hudson’s Bay Company began liquidation sales on Monday, while temporarily excluding six stores from the initial process.
The Canadian retailer received court approval on Friday to move forward with a revised liquidation plan as part of its ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings.
For the time being the Downtown Queen Street location at 176 Yonge Street in Toronto, Yorkdale Shopping Center in Toronto, Hillcrest Mall in Richmond Hill, the Downtown Montreal location, Carrefour Laval in Laval, and the Pointe-Claire…
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FILE PHOTO – Workers at The Hudson’s Bay store in Kamloops walked out of the job just before Christmas in 2023, shutting the doors for five months.
(LEVI LANDRY / iNFOnews.ca)
March 24, 2025 – 7:00 PM
As Hudson’s Bay liquidates the merchandise in nearly all its stores, several Kamloops and Okanagan businesses are left with unpaid bills from the retailer that’s older than Canada itself.
The company is behind on hundreds of thousands in bills in the Southern…
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23andMe Holding Co. filed bankruptcy after it was unable to find a buyer to rescue it from insolvency proceedings and the board of directors rejected a buyout offer from co-founder Anne Wojcicki.
The Silicon Valley-based firm will continue marketing itself to investors with the goal of getting at least one binding offer by May 7, according to court papers. That deadline was set by lenders, who are seeking court permission to loan 23andMe as much as $35 million to fund its bankruptcy.
The Chapter 11 filing in St. Louis will also resolve its legal troubles related to a data breach, according to a statement. That hack compromised information on millions of people and gave a hacker direct access to about 14,000 user…