Insolvency Guardian Media Centre
A lawyer acting for Nick Bolton’s Keybridge Capital warned the company that it could be accused of concocting a voluntary administration to maintain control of the ASX-listed cashbox.
Keybridge has been engaged in a bitter year-long feud with its largest shareholder Wilson Asset Management, whose founder Geoff Wilson gained the upper hand after a dramatic falling out between Bolton and erstwhile ally and regional media entrepreneur Antony Catalano.
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Israeli opposition leader Yair Lapid presented a plan on Tuesday for post-war governance in Gaza that would see Hamas removed from power and Egypt assume control of the enclave for up to 15 years in exchange for having its foreign debt paid off.
“After the seventh of October 2023, the world needs a new solution for the Gaza Strip,” Lapid told an event held by the neoconservative Foundation for Defense of Democracies (FDD) think tank in Washington.
“Israel cannot allow Hamas to remain in power. The Palestinian Authority is also unwilling or able to administer Gaza in the near future,” he added.
“The solution is Egypt will take responsibility for the management of the Gaza Strip for eight years with an option to extend to 15…
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Trump says ‘gold card’ visa will help pay down U.S. debt By Reuters Investing.com
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Trump says ‘gold card’ visa will help pay down U.S. debt Reuters.com
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CreditorWatch analysis of ATO tax debt defaults has revealed that 33.6 per cent of private businesses have collapsed over the last year after failing to address significant tax debts.
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The research found that 1,715 out of 5,097 businesses with outstanding tax debts that exceeded $100,000 had become insolvent or had voluntarily closed.
CreditorWatch attributed this to the ATO’s lenient debt enforcement approach during the pandemic, which had significantly surged with the ATO being owed $52 billion in outstanding tax liabilities.
According to the data, $34 billion of this amount was owed by small businesses put under pressure when the ATO significantly…
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A new report shows Americans have more than 1.2 trillion in credit card debt. One nonprofit says they have resources to help.
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CEDAR RAPIDS, Iowa (KCRG) – According to a recent report by the Federal Reserve Bank of New York, U.S. residents are increasingly struggling to manage rising debt.
This follows the release of a new report, which shows that U.S. credit card debt reached a record high of more than $1.21 trillion by the end of 2024.
Following the release of the report, TV9 spoke with Elyse De Corah, a financial advisor with Cetera Advisor Networks and Guide Wealth Partners in Cedar Rapids. She explained that one of the biggest factors contributing to debt struggles is consumerism. She noted that there is constant pressure to buy, and online shopping makes it easier to accumulate debt. De Corah also offered advice for those feeling overwhelmed by their debt.
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EVTOL hopeful Lilium has all but thrown in the towel with a second insolvency filing that will likely be its last, according to a company statement. “As the funding options to secure Lilium’s future have not materialized in time, Lilium Aerospace has filed for insolvency today,” the company said. “While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely and therefore operations will be stopped.”
The company filed for insolvency last December, but new investors gave hope that it could be resurrected. The new investors pledged $200 million to get the company to certification so it could fulfill its 780 potential orders, but the money never materialized. Company…
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NEW DELHI: The National Company Law Tribunal (NCLT) has admitted the application for commencement of corporate insolvency resolution process against AVIOM India Housing Finance. On January 27, the Reserve Bank had superseded the board of AVIOM owing to governance concerns and defaults in meeting various payment obligations, and appointed Ram Kumar, ex-CGM of Punjab National Bank, as its Administrator.
The action was taken basis recommendation of the National Housing Bank (NHB).
Later, it filed an application with the NCLT, New Delhi bench, for initiation of corporate insolvency resolution process (CIRP) against AVIOM India.
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A week after the bankruptcy of West Plant Group’s parent company, the group’s own plant breeding companies have now been declared bankrupt. They are West Plant Fruits, West Plant Limburg, West Plant Vegetables, West Plant Biological and West Plant Retail.
The liquidator is investigating the possibilities for a relaunch and is in talks with several candidates interested in (parts of) the company, he told De Limburger. In order for a possible sale to go smoothly, efforts are being made to continue plant cultivation.
Maasbree-based West Plant Group is a propagator specializing in cabbage, celery, leek, herb and strawberry plants in trays. The company is embroiled in a damages case, following a claim after a faulty delivery of…
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The number of corporate insolvencies in England and Wales has risen ahead off business cost rises in April. Figures for January showed that 1,852 firms became insolvent, up 10.7% on a year earlier and 13.1% on 2023. Compared to December the level was up 6.5%
Personal insolvencies decreased by 3.4% in January to 9,706 compared to December, but were up 11.6% on a year earlier.
Bethan Evans, Wales chair of R3, the UK’s insolvency and restructuring trade body, said:“The monthly and yearly rise in corporate insolvencies is down to an increase in the number of creditors’ voluntary liquidations and administrations. That would suggest that directors may be choosing to close down their firms after years of challenging trading conditions and…
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NCLT directs Bank of Baroda and Resolution Professional to provide Pravin Herlekar, former OSCL director, with a detailed breakdown of the ₹290.05 crore claim in ongoing insolvency proceedings | Representational Image
Mumbai: The National Company Law Tribunal (NCLT) has directed the Resolution Professional (RP) of Omkar Speciality Chemical Limited (OSCL) and the Bank of Baroda (BoB) to provide Pravin Herlekar, the erstwhile director of OSCL, with copies of all details and a detailed break-up of BoB’s claim amounting to Rs 290.05 crore. The claim was admitted by the RP as part of the ongoing Corporate Insolvency Resolution Process (CIRP) of OSCL.
The Tribunal, while issuing its…