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Rosmerta Digital Services has filed an insolvency petition against Ola Electric Mobility’s subsidiary, Ola Electric Technologies, before the National Company
Canadian department store retailer Hudson's Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction
Before you enroll in a debt management program, make sure you understand the risks that come with it.
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When Alberta’s United Conservative government contracted out community medical lab testing to a private company in December 2022, it said it would save tens of millions of dollars.
Two weeks before that contract with DynaLife Medical Labs was set to take effect, the company told the province it needed additional funding.
Less than three months later, DynaLife’s owners said the company was insolvent and needed an additional $70 million. They soon asked the province to buy DynaLife, which it ultimately did at a cost of almost $100 million.
These revelations come from documents obtained by CBC News through freedom of information requests, including Alberta Health emails and briefing notes prepared for Premier Danielle Smith and health…
Called Rosmerta Digital Services, the company alleges default in payment for its services offered
Quick Highlights:
Rosmerta Digital Services, a registration company has filed for insolvency proceedings against the brand.
Rosmerta is the wholly-owned subsidiary of Ola Electric.
Might affect the company’s registration figures this month, but only time will tell.
In February, Ola Electric was reworking its contracts with vehicle registration company Rosmerta Digital Services Limited, and Mumbai-based HSRP (High-Security Registration Plates) maker Shimnit India. Now, Rosmerta Digital Services Limited has filed a petition seeking Corporate Insolvency Resolution…
Rosmerta Digital Services has filed an insolvency petition against Ola Electric Mobility’s subsidiary, Ola Electric Technologies, before the National Company Law Tribunal (NCLT), alleging that the electric two-wheeler maker has defaulted on payments for the services provided. This comes at a time when Ola Electric’s vehicle registration process transformation is in its final stages.
The insolvency plea has been filed under Section 9 of the IBC
The petition has been filed before the Bengaluru Bench of the NCLT
Ola was renegotiating terms with Rosmerta and Shimnit India to cut costs, enhance efficiencies
Rosmerta files a petition against Ola Electric Technologies
Business insolvencies in Morocco are expected to continue rising in 2025, according to forecasts from Allianz Trade, an international insurance company that monitors the financial health of over 80 million companies.
In its latest Global Insolvency Report, Allianz Trade predicts that global business insolvencies will increase by 6% in 2025 and 3% in 2026, following a 10% rise in 2024.
Morocco is no exception, as it is set to face yet another year of rising business insolvencies. The North African kingdom is expected to see a 7% increase in business insolvencies in 2025, in line with global trends. This follows a 10% rise in 2024, with total insolvencies projected to reach 16,800 cases, marking a 109% surge from pre-COVID…
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt.
Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share, and the Thomsen family continued to operate Central Welding, located at 1811 Seymour St. in the east end of North Bay.
The company billed itself as a world-class bridge fabricator and experienced much business success over the decades. Thomsen died in 2021, and the company holdings remained under family control.
The insolvency petition comes at a challenging time for Ola Electric. The company is also facing financial pressure, having reported a net loss of ₹564 crore in Q3 FY25.
NEW DELHI: Ola Electric’s stock dropped sharply on Monday, hitting a 52-week low of ₹46.94. The decline came after the company disclosed that an insolvency petition had been filed against its subsidiary, Ola Electric Technologies Pvt Ltd.
The petition was filed by Rosmerta Digital Services Ltd, an operational creditor. The company alleged default in payment for services rendered. The matter has been submitted to the National Company Law Tribunal (NCLT) Bengaluru Bench under Section 9 of the Insolvency and Bankruptcy Code, 2016.
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt.
Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share, and the Thomsen family continued to operate Central Welding, located at 1811 Seymour St. in the east end of North Bay.
The company billed itself as a world-class bridge fabricator and experienced much business success over the decades. Thomsen died in 2021, and the company holdings remained under family control.
Canadian department store retailer Hudson’s Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction under the Companies’ Creditors Arrangement Act.
Hudson’s Bay
The Toronto-based company said it has only secured limited debtor-in-possession financing that will require the full liquidation of the entire business, added that a store-by-store liquidation process will begin as soon as next week.
Hudson’s Bay said it hopes that key stakeholders, particularly its landlord partners, would explore with it an alternative restructuring path that could preserve jobs and tenancy in retail…
