Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Decade-old food redistribution startup Yume is up for sale after hitting liquidation  Startup Daily Read the original article here
Major Metals Recycling Firm Unimetals Enters Liquidation  Waste360 Read the original article here
The tax department is having a company linked to the operations of Destiny Church liquidated and has applied to have
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Startup Winely goes into liquidation owing $2.2m  BusinessDesk | NZ Read the original article here
Startup Winely goes into liquidation owing $2.2m  BusinessDesk | NZ Read the original article here
Zurich Insurance, Swiss Re, and Swiss Life have been added to a list of insurance firms required to develop resolution
Franz Ferdinand frontman Alex Kapranos has revealed the shock detour the Scottish band’s career almost took at the height of
The Sterling Biotech case, one of India’s most significant bank frauds, has neared its conclusion with the Supreme Court’s conditional
Credit card debt relief could be worth pursuing this December for a variety of reasons. Kathrin Ziegler/Getty Images Late November
Gambling, Prediction Markets Create New Credit Risks, BofA Warns  Bloomberg.com Read the original article here
Bank of America Warns of Mounting Credit Risks as Gambling Booms  Bloomberg.com Read the original article here

Decade-old food redistribution startup Yume is up for sale after hitting liquidation  Startup Daily

Read the original article here

Major Metals Recycling Firm Unimetals Enters Liquidation  Waste360

Read the original article here

The tax department is having a company linked to the operations of Destiny Church liquidated and has applied to have another of the church’s trusts shut down.

New Zealand Gazette filings show the Inland Revenue Department filed an application to have the registered company Te Hahi O Nga Matamua liquidated on August 19. The application was heard and approved at the High Court at Auckland on November 7 and the company is now in liquidation. 

Its sole shareholder is Destiny Church NZ Trust and its sole director is Jennifer Marshall, assistant to controversial church leader Brian Tamaki.

On September 25, IRD lodged an application to liquidate Whakamana International Trust, which in August changed its name from Destiny…

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Startup Winely goes into liquidation owing $2.2m  BusinessDesk | NZ

Read the original article here

Startup Winely goes into liquidation owing $2.2m  BusinessDesk | NZ

Read the original article here

Zurich Insurance, Swiss Re, and Swiss Life have been added to a list of insurance firms required to develop resolution plans in case of insolvency, according to the G20’s Financial Stability Board (FSB). The updated global list, published on Tuesday by the FSB, now includes 17 companies, an increase of four from the previous year. Alongside the three Swiss firms, Dutch insurer Athora was also added to the roster. Zurich Insurance Group AG is a Swiss insurance company. Swiss Re is a wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Swiss Life provides life insurance, risk, pensions and financial solutions.

The resolution plans are designed to enhance preparedness among companies and…

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Franz Ferdinand frontman Alex Kapranos has revealed the shock detour the Scottish band’s career almost took at the height of their fame 20 years ago.

The art rock outfit was chasing the success of their break-out single Take Me Out and self-titled debut record around the globe when they were asked to represent Greece at the 2005 Eurovision Song Contest.

Kapranos, who celebrates his Greek heritage on the track Black Eyelashes from this year’s album The Human Fear, said fate intervened in them knocking back the opportunity to compete in the singing Olympics as the singer eventually selected, Helena Paparizou, went on to win.

“I love Eurovision. I love Greece. I love playing music. But the combination thereof, I didn’t think was going…

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The Sterling Biotech case, one of India’s most significant bank frauds, has neared its conclusion with the Supreme Court’s conditional quashing of criminal cases against the fugitive Sandesara brothers. The complex saga, intertwining a massive financial scam with a protracted insolvency process, spans nearly a decade. Here is a detailed timeline of key events.

The Unraveling: Exposure of the Fraud (Pre-2018)

  • Circa 1990s-2017: Sterling Biotech Ltd., a listed pharmaceutical company promoted by Nitin Sandesara, Chetan Sandesara, and Dipesh Patel, operates multiple facilities. Investigations later allege that the promoters orchestrated a complex web of transactions through hundreds of shell companies to siphon off…

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Credit card debt relief could be worth pursuing this December for a variety of reasons.

Kathrin Ziegler/Getty Images


Late November is often a time when holiday spending increases and the swipe of a credit card becomes more frequent. So it may feel unusual to think of now as the right time of the year to tackle your growing credit card debt. But the reality is that there’s never a bad time to regain your financial health and security, and in today’s unique economic landscape, many could actually benefit from taking a…

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Gambling, Prediction Markets Create New Credit Risks, BofA Warns  Bloomberg.com

Read the original article here

Bank of America Warns of Mounting Credit Risks as Gambling Booms  Bloomberg.com

Read the original article here