Insolvency Guardian Media Centre
Lilium faces second bankruptcy as funding deal collapses AviTrader
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Joann to Close All Stores Following Second Bankruptcy MSN
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Tesla to acquire parts of insolvent German parts maker Manz Reuters
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Iconic bankrupt retailer closes all 800 stores in liquidation TheStreet
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Boss of agency owing $2.9m admits evading tax with new company The Press
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The National Company Law Appellate Tribunal (NCLAT) Chennai Bench of Justice Sharad Kumar Sharma (Judicial Member) and Mr. Jatindranath Swain (Technical Member) has held that the default falling in pre-section 10A period cannot be said to be continued when some payments towards the acknowledgement of debt accumulating during the prohibited period is made.
Brief Facts:
M/s Servomax Limited (Corporate Debtor) had issued various purchase orders to TVN Enterprises (Operational Creditor) for the supply of goods including copper conductors and core assembly units till 15.09.2020. The Operational Creditor had also made the supply of goods as per the purchase orders issued by the Corporate Debtor and had raised invoices for such…
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The parties have signed a corresponding purchase agreement, insolvency administrator Martin Mucha told the German press agency DPA. A price was not communicated. According to the report, Mucha is pleased to have successfully concluded the negotiations with Tesla, saving many jobs.
The German engineering company Manz filed for insolvency in December 2024, after lenders said they would “not provide any further finding.” Either way, it was just a matter of time until Manz had to declare insolvency, as the company was over-indebted. The reason: A lack of orders from the electric mobility sector put the company in financial difficulties after the market did not grow as quickly as expected.
Manz has announced that the Local Court of…
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China has steadily accumulated U.S. Treasury securities over the last few decades. As of November 2024, the Asian nation owned $768.6 billion in Treasuries (bonds issued by the federal government), which is the main form of U.S. debt to China.
Some analysts and investors fear China could dump these Treasuries in retaliation and that this weaponization of its holdings would send interest rates higher, potentially hurting economic growth. The amount of Treasuries China holds has been decreasing since 2018. This article discusses the business behind China buying U.S. debt.
Key Takeaways
- China invests heavily in U.S. Treasury bonds to keep its export prices lower.
- China focuses on export-led growth to help generate jobs.
- To keep its…
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The debt crisis in the world’s poorest economies is worsening, with rising debt servicing costs reducing funds for development, the UN Development Programme (UNDP) warned on Tuesday.
A new multilateral debt relief deal that includes all creditors “warrants serious attention”, the UN Development Programme said in a policy paper.
Debt Interest Payments
Interest payments on debt exceeded 10% of government revenue in 56 developing nations – almost twice the number of countries compared to a decade ago,…
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BERLIN (Reuters) – U.S. carmaker Tesla will acquire parts of the insolvent German high-tech parts maker Manz AG, including more than 300 employees at its site in Reutlingen city in the southwest, the German company said on Tuesday.
The deal marks a wider presence by Tesla in Germany, where it runs a manufacturing site near Berlin, even after CEO Elon Musk endorsed the far-right party AfD, which mainstream parties have refused to work with due to its extreme positions.
Tesla sold almost 60% fewer cars in Germany in January than a year earlier, as the U.S. electric vehicle maker faces a test of popularity amid Musk’s U.S. political involvement.
Manz’s insolvency administrator and Tesla Automation GmbH, a subsidiary of the U.S….