Joanna Fantozzi

Oath Pizza — the Boston-based, fast-casual pizza brand —declared Chapter 7 bankruptcy on Oct. 22 and will be liquidating its assets one year after closing all of its corporate locations. The Next Level Pizza-owned small chain estimated that it had under $500,000 in assets, and was up to $50 million in debt.

Oath Pizza was founded on Nantucket Island in 2015, and over the next couple of years, had become a promising emerging chain. The company secured $4.5 million in funding in 2016, and announced a strategic partnership with Aramark in 2018, with plans to accelerate growth across the Northeast, particularly on college campuses, especially through franchising. Oath Pizza distinguished itself from other fast-casual…

Solar 21’s High Court-approved scheme of arrangement to pay back hundreds of millions to investors faces a series of deadlines over the next six weeks, according to a new report prepared by restructuring supervisor Alvarez & Marsal.

There is a risk that GB Bio, the Solar 21 subsidiary that owns the Tansterne station near Hull, “has insufficient cash reserves to avoid insolvency prior to a sale,” said the report.

The sale of Tansterne is Solar 21’s main avenue in seeking to repay a large part of what it owes investors.

It also hopes the sale of an as yet unbuilt energy project in North Lincolnshire, which is awaiting consent from the UK…

The bankruptcy court approves Helios Photo Voltaic Ltd, earlier known as Moser Baer Photo’s acquisition by OCL Iron & Steel Ltd through an insolvency resolution process. Helios Photo Voltaic manufactures solar energy equipment including optical media storage products, photovoltaic cells, thin film modules, panels and other electrical equipment products along with wires and cables.

“As per the resolution of the CoC (Committee of Creditors), the plan meets the requirement of being viable and feasible for the revival of the corporate debtor (Helios Photo Voltaic),” said a division bench of Justice Ramalingam Sudhakar and a technical member Avinash K. Srivastava in its order of January 22. “By and large, there are provisions for…

Managing money is hard enough without taking on someone else’s financial burdens.

So, what would you do if a family member with a history of reckless spending asked you to co-sign on a car loan? Would you risk your credit for the sake of that person? Or would you consider your future and refuse?

In the following story, one sibling finds themselves in this exact situation with their brother. Here’s how it all played out.

I recently received a text from my older brother simply asking, “Do you have good credit?”

When I replied to him and answered that I did, he proceeded to ask me to be a co-signer on the car. Another Mercedes. He has wasted so much money on different cars over the years and has put himself into…

According to the National Council on Problem Gambling, about 2.5 million Americans have a severe gambling problem and another 5-8 million show signs of mild to moderate issues.

Though gambling is becoming increasingly mainstream in the US, we don’t talk enough about the harm it can…

Bruno Mars has finally addressed gambling debt rumors on social media.

Full story below…

“KEEP STREAMING! I’ll be out of debt in no time”

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The Supreme Court on Wednesday, by a majority of 2:1, set aside the approval granted to AGI Greenpac’s resolution plan for ailing Hindustan National Glass and Industries Ltd (HNGIL), citing non-compliance with mandatory provisions under the Insolvency and Bankruptcy Code, 2016. A bench comprising Justices Hrishikesh Roy, Sudhanshu Dhulia and S V N Bhatti was hearing a batch of appeals led by Independent Sugar Corporation Ltd against a September 18, 2023 judgement of the National Company Law Appellate Tribunal (NCLAT).

Justices Roy and Dhulia, in a majority judgement, ruled AGI Greenpac’s resolution plan was unsustainable owing to its failure to…