Insolvency Guardian Media Centre
To date, Wynyard NZ’s unsecured creditors have been paid just 9c in the dollar.
The New Zealand liquidation of delisted crime-fighting software company Wynyard Group is likely to be wrapped up soon, more than eight years after it went into voluntary administration.
Liquidators Calibre Partners say in their latest report that the liquidation of one of the country’s largest
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In January, Columbia economics professors Martín Guzmán and Joseph Stiglitz published a report, “How New York State Lawmakers Can Help Address Debt Crises in the Global South,” to support legislative attempts to reform the state’s role in debt restructurings for countries with distressed economies. The report includes recommendations that legislation should blunt incentives for vulture funds, which profit from buying defaulted bonds and litigating full repayment through the courts, and reduce the interest rate accrued by creditors during the time between default and settlement.
These efforts are crucial, explain Guzmán and Stiglitz, because 3.3 billion people live in countries that spend more on debt service than on health….
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The National Company Law Tribunal (NCLT) has given an additional eight days to complete the ownership transfer of Reliance Capital (RCAP) to IndusInd International Holdings Ltd (IIHL). The transaction is expected to be finalized by March 20, 2025.
The Mumbai-bench of NCLT heard the matter and a joint status update was given by the committee of creditors, administrator, and IIHL on the progress of the implementation of the resolution plan.
The NCLT advised all parties to ensure…
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The National Company Law Appellate Tribunal, Principal Bench, New Delhi (NCLAT) comprising of Justice Yogesh Khanna (Member (Judicial) and Mr. Ajai Das Mehrotra (Member (Technical) dismissed appeal filed by the operational creditors due to the presence of a pre-existing dispute between the operational creditor and corporate debtor.
Brief Facts
The present appeal arises out of an impugned order passed by the National Company Law Tribunal (NCLT), New Delhi allowing M/s Ambassador Logistics Pvt. Ltd (Corporate Debtor) into Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The operational creditor had filed the petition for the operational debt amounting to Rs….
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Live streamer Sporttotal files for insolvency SportBusiness
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Property development firm Enzo’s Homes put into liquidation Business Live
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Chinese company to buy bankrupt German flying taxi firm Free Malaysia Today
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Tesla CEO Elon Musk has once again voiced his concerns over US government spending. In a post on microblogging site X (formerly Twitter), Musk warned that America will go bankrupt if federal spending is not controlled. Musk quoted a post by Canadian-American venture capitalist and entrepreneur Chamath Palihapitiya that said that anyone “wishing DOGE to fail” is “wishing for America to default”.
“Make no mistake, just like in a private company, these are losses. America is deeply unprofitable, far away from breaking even and if outsiders stop lending us money, we will go bankrupt. So, in case you didn’t know better, if you are still wishing DOGE to fail, you are wishing for America to default,” Palihapitiya wrote in the…
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Jay Chou’s label denies he accumulated S$189 million in gambling debt in Macau The Independent
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How New York Can Help End the Global Debt Crisis The Nation
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I was a millionaire but my gambling addiction cost me everything MSN
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Taiwanese singer Jay Chou and Chinese actor Huang Xiaoming have reacted to speculation linking them to claims that an unidentified male superstar had racked up gambling debts at a casino in Macau.
Rumours began circulating on Chinese social media on March 10 that a certain “super A-lister” recently gambled for seven straight days there and lost about 1.03 billion yuan (S$189 million).
The rumours also alleged that he had to mortgage three luxury homes and a private jet to pay off the debts.
Netizens began speculating who the artiste was as he was not named in the posts. Beside Chou and Huang, Chinese actors Wu Jing and Wang Baoqiang, as well as Chinese singer Wang Feng, were also brought up.
Chou’s label JVR Music took to Weibo on…