Insolvency Guardian Media Centre
New Delhi, Mar 15 (PTI) Ola Electric Mobility Ltd on Saturday said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly owned arm Ola Electric Technologies Pvt Ltd.
In a regulatory filing, the company said, “A petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Rosmerta Digital Services Ltd, an operational creditor of Ola Electric Technologies Pvt Ltd.” The petition has been submitted before the National Company Law Tribunal’s Bengaluru Bench, alleging default in payment towards the services rendered by the operational creditor and seeking initiation of the corporate insolvency resolution process…
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More than one-tenth of Korean teenagers with online gambling experience have resorted to illegal private loans to repay gambling debts, according to a report released by a state-run think-tank, prompting measures to protect teenagers from gambling addiction.
The National Youth Policy Institute in July 2024 surveyed 505 Korean teenagers, comprising 135 middle school and 370 high school students with experience in online gambling.
Some 38.6 percent of the respondents said they borrowed money from friends to continue online gambling, while 12.7 percent said they took out private loans from illegal private lenders or friends who charged high interest rates.
When asked whether they had seen or heard of their friends…
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“Our team has worked incredibly hard to identify a viable path forward, and our resolve is strengthened by the overwhelming support from customers and associates who have shared heartfelt stories about Hudson’s Bay and what our stores have meant to them, their families, and their communities across the generations,” said Hudson’s Bay president and CEO Liz Rodbell in a statement on Friday night.
“These powerful experiences remind us why we must continue to pursue every possible opportunity to secure the necessary support from key landlords and other stakeholders to save The Bay.”
The department store chain dates back to 1670 and now spans 80 stores.
Hudson’s Bay said it plans to sell off…
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Carlow firm Swan Fruit Limited once had a turnover of €40m but was placed into voluntary liquidation in 2014, owing more than €2m to creditors
Photo: Getty
A Carlow fruit-and-vegetable wholesaler in liquidation for more than a decade is now under investigation by the Garda National Economic Crime Bureau (GNECB).
Carlow firm Swan Fruit Limited once had a turnover of €40m but was placed into voluntary liquidation in 2014, owing more than €2m to creditors.
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Aussies scoop up cheap gifts from sports company liquidation The Courier
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School lunch provider Libelle Group has been placed into liquidation.
Photo: RNZ / Louise Ternouth
Libelle Group, a major provider of school lunches that went into liquidation this week, has agreed to sell its lunch operation to Compass Group NZ.
Compass had contracted with Libelle previously to deliver 125,000 meals a day as part of the Ka Ora, Ka Ako programme.
“The liquidators are pleased to have been able to reach an agreement with Compass that will see the continuity of the Ka Ora, Ka Ako Healthy School Lunches programme,” said liquidator David Webb in a statement.
“We appreciate the combined efforts of the Compass and Libelle teams in continuing to provide school lunches with minimal disruption while we negotiated a…
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Hudson’s Bay owes almost $1M on Island; mall operator biggest creditor Times Colonist
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A Minnesota senior who drove seven hours to stock up on items at a Hudson’s Bay store is ‘grieving’ the potential loss of the iconic chain.
The Bay filed for creditor protection last week. Then, on Friday night, it announced it will begin liquidating its entire business as soon as next week, pending court approval.
Corey Gordon and his wife, Lori, decided to drive from St. Paul to Winnipeg on a whim that night, arriving at about 3 a.m. Saturday. They had heard about the Bay seeking creditor protection but, while travelling, missed the news that Canada’s oldest retailer will “undergo full liquidation” unless an “alternative solution” is found.
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Hudson’s Bay, Canada’s oldest company, is hoping it can avoid a shut down by announcing a liquidation strategy amid financial struggles.
On Friday, the department store company said unless it finds a more viable path forward, it will begin liquidating its entire business as soon as next week.
“Devastating,” Victoria shopper Maggie said on Saturday. “I think it’s an icon of Canadian history and it’s a real shame.”
The iconic department store chain, which dates back to 1670 and now has 80 stores across Canada, says it has been forced to liquidate because “exhaustive” efforts haven’t turned up the financing it needs to keep the company alive.
“We’re definitely surprised, shocked by…
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Paying off high-interest debt, such as credit card balances, requires patience and resolve. To achieve this, you’ll need a strategy that works for you and your financial situation.
CNBC Select breaks down the five common ways to get out of debt. Read on to see which one is best for you.
Consolidate your debt
Juggling multiple debts can be overwhelming, especially if you’re tracking numerous payment due dates and interest rates. It can take a toll on your mental and financial health.
Debt consolidation can bring some relief. When you consolidate your debts, you roll them into one payment, hopefully at a lower interest rate.
Balance transfer card
A with a 0% APR promo period is perhaps the most cost-effective consolidation tool for credit…
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Harry Potter actor Jessie Cave has revealed she is starting an OnlyFans to help her “get out of debt” and “empower” herself.
Cave portrayed the character Lavender Brown in three films across the Harry Potter franchise, first appearing in 2009’s Harry Potter and the Half-Blood Prince. The character is perhaps most notable for her brief relationship with the character Ron Weasley.
Despite her on-screen success, Cave said on social media that she is starting an OnlyFans account to help deal with some of her debt.
Cave specified that the account would be non-sexual in nature and would instead offer subscribers “the best quality hair sounds”, with an aim to appeal to people with a hair fetish.
Speaking on her podcast, Before We Break…