Insolvency Guardian Media Centre
More civil servants likely to be declared bankrupt following MACC’s Op Sky New Straits Times
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Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling USD 12.68 million (about Rs 110 crore).
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Shandong Molong Petroleum Machinery Faces Debtor Liquidation Proceedings TipRanks
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Actor Vinci Wong has been declared bankrupt by the Hong Kong High Court after a credit firm accused him of failing to repay an unsecured loan totaling HK$2.8 million (US$360,487).
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Hong Kong actor Vinci Wong. Photo from Wong’s Instagram |
According to The Star, Wong was absent from the hearing on March 3, when the judge issued the bankruptcy order.
Wong had filed for bankruptcy in December last year after being sued by the credit firm. At the time, he declined to comment further, stating that the case was under legal proceedings. Despite the setback, he remained optimistic, telling reporters: “I will continue facing it with positivity and strength.”
At 54, Wong is well-known for his…
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New Delhi, Mar 10 (PTI) The National Company Law Tribunal (NCLT) has directed that the resolution plans to acquire Jaiprakash Associates through the insolvency process should be invited for the entire company as a going concern and not by dividing its different business verticals.
NCLT has said ‘Form G’ published by the resolution professional of JAL inviting Expression of Interest (EOI) from prospective buyers “by giving two options at the threshold and the second option by splitting the business operations of JAL into multiple clusters being in violation of the provisions” of Insolvency & Bankruptcy Code (IBC).
The Allahabad bench of NCLT said the process of two…
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The company that ran Walleys Quarry owed millions to creditors when it collapsed, a new document shows.
Walleys Quarry Ltd (WQL) entered voluntary liquidation last month, three months after the controversial Silverdale landfill site was issued with a closure notice.
The company’s statement of affairs, published on Companies House, has now revealed that it owed non-preferential creditors £3.5 million when it entered liquidation.
This included £1.25 million owed to trade and expense creditors, £1.6 million to HMRC and £43,798 to employees.
Individual creditors owed money by WQL include the Environment Agency (£591,993) and Newcastle Borough Council (£132,097).
But WQL only had £254,156 of assets left after owed…
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This commentary is by Mike Fisher, Vermont’s health care advocate.
At the Office of the Health Care Advocate, we often hear from Vermonters who are forced to make impossible choices between getting medical treatment and paying for basic needs like food, housing and heat.
Our office sees the toll that medical debt takes on families. When we interviewed Vermonters across the state about the impact of medical debt on their…
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Small businesses struggling in Australia’s sluggish economy continue to fight an uphill battle in 2025, as data shows late payments to small and medium-sized enterprises (SMEs) have surged to their highest level in four years, choking their finances and in some cases triggering bankruptcy.
Larger businesses are taking longer to pay small businesses, dragging out payment times from 30 to 90 days, or more. With business-to-business payment defaults more than doubling in the past 12 months, this puts significant strain on cash flows, making it more difficult for SMEs to stay afloat and meet their financial commitments.
Small businesses are being hit by late payments.Credit: Ben Symons
One source from a labour hire firm, speaking on…
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Business podcaster Matt Haycox declared bankrupt for second time The Times
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Two Australian and New Zealand live music events – one of which that didn’t even go ahead with its inaugural shows – have been placed into voluntary administration.
As reported by the NZ Herald, one of those events is the Timeless Summer Tour, which was scheduled for debut events throughout Australia in January with a lineup that included Culture Club’s Boy George, ex-Spandau Ballet singer Tony Hadley, and Bonnie Taylor.
After being announced last year, the tour was “postponed” in December, however it has now been confirmed to have been placed into administration.
The other event that has been axed is the New Zealand leg of the Juicy Fest, which is run by the same promoter as the Timeless Summer Tour.
The R&B and hip hop…