Volocopter filed for insolvency at the end of December. After Lilium, it was the second German e-VTOL startup to do so. Since December, the provisional insolvency administrator Tobias Wahl from Anchor Rechtsanwälte has been working on a reorganisation solution. Business operations initially continued, and Volocopter announced its intention to “develop a restructuring concept by the end of February and implement it with investors” by the end of February. “The company needs financing to take the final steps towards market entry,” said Wahl.

However, as the German press agency DPA, among others, writes, a solution is still a long time coming, and the provisional proceedings have now been transferred to regular insolvency…

A Nottinghamshire construction boss has been jailed after fraudulently removing more than £700,000 from four struggling companies to fund his gambling addiction.

Wesley Grainger-Smith, 66, was sentenced to two years and four months in prison at Lincoln Crown Court after pleading guilty to five counts of fraudulently removing company property.

Between 2014 and 2017, Grainger-Smith transferred large sums from company accounts into his casino gaming account.

While he was not officially listed as a director of the companies, he exerted influence over their operations and had access to their finances.

The Insolvency Service’s investigation uncovered around £570,000 in cash deposits returned to the companies, which…

You don’t have permission to access “http://www.business-standard.com/companies/news/jindal-power-to-acquire-bhadreshwar-vidyut-as-lenders-approve-rs-500-cr-bid-125030300839_1.html” on this server.

Reference #18.d0b42e17.1741005348.171fd77b

https://errors.edgesuite.net/18.d0b42e17.1741005348.171fd77b

Greenwich Build has gone into voluntary administration, leaving the Wakaden Street project stalled. Photo: Oliver Jacques.

The Sydney-based builder of an affordable housing development on Griffith’s Wakaden Street has gone into administration, leaving some local contractors unpaid for work already done.

Not-for-Profit Argyle Housing was donated land by Griffith City Council to construct four two-storey, two-bedroom townhouses next to the ambulance station. The units were to be held as affordable housing and rented out to low-income earners to help address a chronic housing shortage in town and were expected to be completed by early 2025.

However, the timing of the project delivery is now under threat, with the federal business…

Shares in Star Entertainment have been suspended from trading on the stock exchange after it failed to lodge its financial results.

Exchange operator ASX automatically suspended shares in Star on Monday morning after the casino operator missed Friday’s deadline for issuing its earnings update for the first half of the financial year.

The future of Star Entertainment and its thousands of workers remains uncertain as the company’s efforts to secure a financial lifeline go down to the wire.

The company, which operates casinos in Brisbane, the Gold Coast and Sydney, confirmed on Monday morning that it would not be able to lodge its accounts until it secured a funding package.

Star said it required “a refinancing commitment that would enable The…

The Insolvency and Bankruptcy Board of India (“IBBI”) has recently notified several key amendments[1] in the CIRP Regulations[2], which aim to further streamline CIRPs[3] with special focus on real estate (RE) projects. These amendments give a formal effect to the recommendations/ suggestions that were proposed in the IBBI’s discussion paper, dated November 7, 2024, with an aim to enhance transparency, efficiency, and inclusivity of homebuyers in light of the unique challenges that arise in the CIRP of a RE entity.

In this blog, we have examined the issues that led to these amendments and assessed their effectiveness in safeguarding the interests of homebuyers and strengthening their…

Shares of Coffee Day Enterprises, which owns the Cafe Coffee Day chain, on Monday jumped 20% to hit its upper circuit limit after the National Company Law Appellate Tribunal set aside the insolvency proceedings against the company. The stock of Coffee Day Enterprises Ltd. zoomed 19.97 per cent each to Rs 25.65 and Rs 25.53 apiece — also its 52-week high — on the BSE and National Stock Exchange, respectively. In the past four consecutive sessions, the stock has been locked at five per cent lower circuit.

Cafe Coffee Day Share Price: Shares of Coffee Day Enterprises, owner of Cafe Coffee Day chain, surged 20 per cent on Monday after the National Company Law Appellate Tribunal (NCLAT) dismissed the insolvency proceedings against the company. Shares of Coffee Day Enterprises Ltd surged 19.97 per cent to Rs 25.65 and Rs 25.53, their respective 52-week highs on the BSE and National Stock Exchange (NSE). The stock has hit a lower circuit of 5 per cent in the last four consecutive sessions.

The market is trading in the negative zone, with the BSE Sensex trading 360.20 points, or 0.49 per cent, lower at 72,837.90, while the NSE Nifty was down 103.05 points, or 0.47 per cent, at 22,021.65. On Thursday, the NCLAT dismissed the insolvency…