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By Yun Park · March 7, 2025, 6:57 PM EST
A hearing for bankrupt trucking company KAL Freight to determine whether to convert the case to a Chapter 7 liquidation was pushed back to next week as the debtor tried to…
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HOUSTON, TEXAS – MARCH 16: Rapper, songwriter, and icon Drake attends a game between the Houston Rockets and the Cleveland Cavaliers at Toyota Center on March 16, 2024 in Houston, Texas.
Online gambling has exploded in the past decade, and no rapper has embraced the high-stakes world quite like Drake. Hw has been placing massive bets for years, leading to what fans call the “Drake Curse“—a joke about how the teams and players he bets on often end up losing. One day, he wins $1.3 million; the next, he’s down $2 million. The numbers are staggering.
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Insolvency law in Australia is largely statute based, governed by the Corporations Act 2001 (Cth). The relevant corporate insolvency provisions are prescribed in Chapter 5 of the act. Further, there are specific insolvency-related provisions in the Insolvency Practice Schedule (Corporations) in Schedule 2 of the act, along with the Insolvency Practice Rules (Corporations) 2016 detailing specific procedures in the event of external administrations.
Pursuant to the Corporations Act, an Australian company is…
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(Business in Cameroon) – Yaoundé is set to host an international conference on the debt challenges facing CEMAC’s six member states on April 10-11. Titled “Sovereign Debt of CEMAC States and Restructuring Opportunities,” the event is organized by brokerage firms Contacturer Capital and Horus Investment Capital, in partnership with the legal, tax, and financial consulting firm Akoa Mballa & Co.
According to Paul Onono, director of Contacturer Capital SA, the goal of the Yaoundé conference is to “find innovative, tailored solutions suited to our economies.” The event also aims to highlight local expertise and foster synergies for sharing experiences, both locally and internationally. Onono pointed out that since 2011, CEMAC…
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Actor and activist Michael Sheen has once again demonstrated his deep commitment to social causes by purchasing and writing off £1 million worth of debt for 900 people in South Wales. The initiative, part of an upcoming Channel 4 documentary, was funded using £100,000 of Michael Sheen’s own money, highlighting his dedication to supporting those in financial distress.
A Bold Step to Tackle Debt
Michael Sheen, known for his performances in Frost/Nixon and The Damned United, has long been vocal about social justice issues. His latest move follows his 2021 declaration of being a “not-for-profit” actor, pledging to use his earnings for charitable work. In the past, he sold his properties to ensure the 2019 Homeless World…
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A husband-and-wife whose furniture company went into liquidation owing customers almost £100,000 have both been banned as company directors.
George and Williamina Hay were directors of DWH Trading Ltd, which sold adjustable beds and chairs, mostly to elderly and vulnerable customers, from their home address in Aberdeenshire.
The company was struggling financially by April 2023 but continued to take orders and payments from customers in the following six months before it entered liquidation.
Both directors should have known that the majority of these orders would never be fulfilled.
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Exclusive | Hudson’s Bay, Canada’s Oldest Retail Chain, Nears Bankruptcy The Wall Street Journal
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Written by Will Beck
Key developments in 2024
2024 has seen one of the most significant insolvency cases in recent years. In June, Justice Leech handed down his judgment on the claim brought by the liquidators of BHS against certain of its former directors for wrongful trading and misfeasance. This judgment is likely to have important consequences for the D&O market.
It was particularly noteworthy as it was the first time that the directors of a company had been found guilty of the novel claim of ‘misfeasant trading’.
Once it becomes probable that a company will enter insolvent administration or liquidation (or the company is insolvent or is bordering on insolvency), the…
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The National Company Law Tribunal (NCLT), New Delhi, recently approved the Rs 41.26-crore resolution plan submitted by The Statesman Limited for the debt-ridden United News of India, or UNI.
Pooja Bahry, the resolution professional, ensured the resolution process does not drag on for years, and managed to take it to its successful closure within a period of two years. Bahry, is one of the over 450 qualified female insolvency professionals. She is affiliated with the Insolvency Professional Agency of the Institute of Cost Accountants of India.
An alumna and Gold Medalist of Shri Ram College of Commerce (SRCC), Delhi University, Bahry was among the pioneering women in India’s insolvency sector, being the third…
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An award-winning firm with multiple restaurants in Edinburgh has closed suddenly after its parent company plunged into liquidation.
Ghost Gastro Ltd, the business behind Butta Burger and Homies Pizza, was issued a court order on February 14 to wind up its operations.
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Butta Burger was opened at end of 2020, during the first lockdown.
A ghost kitchen is a restaurant which offers food for pick-up or delivery but doesn’t have a storefront or dining room.
Set up during the pandemic by former nightclub promoters Simon Bays and Graham Atkinson, images of their burgers and sides went viral…
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Brindabella Christian College operating as usual despite entering voluntary administration MSN
