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.
“While in the hospital I was [racking] my brain on how in the world I could bring in some money and pay our incoming medical bills while staying home with a medically complex child.”
That’s how Mallory Rose described the first few weeks with her newborn daughter, who was eventually, after multiple hospitalizations, diagnosed with a serious infection known as staph scalded skin syndrome. Speaking to People, Rose admitted she turned to TikTok to post a video of her holding her daughter in the hospital, with the hope that the video could be monetized to make a dent in her six-week-old’s $31,000 medical bills.
Her monetization idea didn’t work, thanks to TikTok’s…
The Australian government is stepping up its financial support for troubled regional carrier REX Airlines.
On January 23, 2025, it became known that the Australian administration is allocating A$50 million (around US$31.3 / €30.1 million) to purchase guaranteed debt from the airline’s largest creditor, PAGAC Regulus Holdings (PAG), a private equity firm. As a result, the Australian government will become the carrier’s largest creditor and will seek a voting spot on the airline’s Committee of Inspection.
With this move, REX will receive some financial breathing room, which should allow it to continue its regional operations while continuing to look for new investors.
CLEO Energy Corp. (“CLEO” or the “Company”) has filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to section 50.4 (1) of the Bankruptcy and Insolvency Act (the “BIA”) and Alvarez & Marsal Canada Inc. (“A&M”) is acting as Proposal Trustee of CLEO for the NOI process. A sale and solicitation process (the “SSP”) is to be undertaken by the Company in its NOI proceedings. CLEO has engaged Sayer Energy Advisors to assist the Company with the SSP in order to solicit interest in the purchase of or investment in all or part of the business or operations of the Company or its undertaking, property and assets. Potential outcomes include but are not limited to a sale of the shares of the Company, the sale,…
LONDON – SVM UK Emerging Fund PLC, a UK-based investment firm, announced today that its Board of Directors has decided to proceed with a Members’ Voluntary Liquidation ( MVL (NSE:)) following a comprehensive review of the company’s future options. The decision, which aims to realize the company’s investments and return cash to shareholders, comes ahead of a scheduled continuation vote in September 2025.
The Board, chaired by Peter Dicks, concluded that none of the potential avenues for continuing the company would result in a satisfactory and cost-effective outcome for its shareholders. After consulting with advisors and considering shareholder feedback, the voluntary liquidation emerged as the most effective method to distribute the…
Debt. It’s a word that can send shivers down anyone’s spine, but let’s face it, it’s a part of life for most people.
Whether it’s student loans, credit cards, or mortgages, managing debt is something we all need to master. The good news? The rules of debt management have evolved, and 2025 brings some fresh strategies to help you stay ahead. So, grab a cup of coffee, and let’s dive into the new playbook for keeping your finances on track.
The Changing Debt Landscape in 2025: What’s New?
First things first, what’s different about debt in 2025? A lot, actually. Economic shifts, rising interest rates, and a booming fintech industry are shaking things up. If you’ve noticed your credit card rates creeping…
The federal government continues to throw regional carrier Rex Airlines a lifeline, after taking on its $50 million debt from its largest creditor PAGAC Regulus Holdings Limited.
Rex has been fighting for commercial survival after entering voluntary administration on June 30 last year, with Ernst and Young (EY) appointed administrators.
Transport Minister Catherine King and Finance Minister Katy Gallagher today announced the government would acquire some of Rex’s debt to prevent liquidation, which they said would harm regional and remote communities that rely on the carrier.
The federal government has acquired $50 million of Rex Airlines’ debt from its largest creditor. (Nine)
“By acquiring the debt, the government will become the…
Companies and industries that are not moving towards zero-carbon emissions will be punished by investors and go bankrupt, the governor of the Bank of England has warned.
Mark Carney also told the Guardian it was possible that the global transition needed to tackle the climate crisis could result in an abrupt financial collapse. He said the longer action to reverse emissions was delayed, the more the risk of collapse would grow.
Carney has led efforts to address the dangers global heating poses to the financial sector, from increasing extreme weather disasters to a potential fall in asset values such as fossil fuel company valuations as government regulations bite. The Guardian revealed last week that just 20 fossil fuel companies have…
Menzies business recovery partner Giuseppe Parla emphasised that many businesses may continue to face financial uncertainty in the New Year. Credit: Miha Creative/Shutterstock.
The latest UK government statistics reveal a 5% year-on-year decline in registered company insolvencies across the UK, with 23,872 cases in 2024.
According to data released by The Insolvency Service, there was a 6% month-on-month decrease in company insolvencies for December 2024 and a 14% drop compared…
The saga is fit for a comic book: meager beginnings, a rapid ascendance and toppling rivals to achieve sweeping power.
Diamond Comic Distributors’ latest chapter, however, reads as a downfall.
After decades as the country’s top comic book distributor, Diamond filed for Chapter 11 bankruptcy last week, intending to sell off some of the healthier aspects of its business and reorganize. It doesn’t necessarily mean the demise of Diamond, which received $41 million in financingfrom JPMorgan Chase to continue operating, but it does spell the end of an era for an industry giant.
Diamond’s origin traces not to Krypton or a spider bite, but to a TV repair shop basement. That’s where Steve Geppi, a Baltimore mailman in his 20s, opened a…
