Insolvency Guardian Media Centre
The health company at the centre of a recent cyber attack has gone into administration, just weeks after it asked the federal government for a bailout.
eScript provider MediSecure, which provides electronic prescriptions for dispensing of medications, confirmed it was the victim of a large-scale ransomware data breach in May.
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Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that ‘Volatility is far from synonymous with risk.’ When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. Importantly, Boyd Gaming Corporation (NYSE:BYD) does carry debt. But is this debt a concern to shareholders?
When Is Debt A Problem?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at…
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SunEnergy collapses owing $2m before similar company emerges The Australian
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The grant element method of measuring the concessionality of loans and debt relief OECD
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Campaigners are urging Labour to lead the charge for global debt relief in 2025, as new analysis shows lower-income countries spent 15% of their revenue on repayments this year – the highest level for three decades.
Calculations by the charity Debt Justice, based on data from the World Bank, show repayments from poorer countries bottomed out at 4.4% of income in 2011 but have since trebled.
“High debt payments are preventing the public spending needed to cut poverty and tackle the climate emergency,” said Debt Justice’s policy director Tim Jones.
Gideon Rabinowitz, director of policy and advocacy at Bond, the anti-poverty coalition, said: “Lower-income countries are being crushed by unsustainable debt, therefore debt cancellation…
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BTS Jimin, Lee Soo Geun, and Ha Sung Woon Also Victimized…Comedian Lee Jin Ho Caused Financial Harm to Dozens of Celebrities
It has been revealed that BTS Jimin, Lee Soo Geun, and other celebrities suffered financial losses after being deceived by comedian Lee Jin Ho, who reportedly incurred billions of won in debt due to illegal gambling. Not only did he borrow money from fellow celebrities, but he also used loan sharks, exacerbating the problem. Some celebrities are planning to file fraud charges against him and apply for a provisional attachment of his appearance fees as Lee Jin Ho started asking his celebrity acquaintances for urgent financial support.
When asked about the financial damages…
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Insolvent flying taxi startup Lilium has found a buyer Sifted
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KTM To Sell Majority Stake In MV Agusta, MotoGP Withdrawal Planned ADV Pulse
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Lilium, the Munich-based electric aircraft startup, was on the brink of closure earlier this week, with plans to lay off its more than 1,000 employees after failing to secure additional funding. However, on December 24, a surprise announcement revealed that Lilium had signed an asset purchase agreement with Mobile Uplift Corporation, a consortium of investors from Europe and North America. This deal is set to acquire the operating assets of Lilium GmbH and Lilium eAircraft GmbH.
The agreement, contingent on satisfying certain conditions, aims to provide the necessary funding to restart Lilium’s operations. Proceeds from the sale will be handled under German Insolvency Law, with no distribution to Lilium N.V. KPMG, which has been…
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Royal Family News: Prince Harry and Meghan Markle signed a £80 million contract with the streaming giant in 2020 after they stepped down as senior working royals.
Royal Family news: Prince Harry and Meghan Markle are seen.
Prince Harry and Meghan Markle have been warned about a key “financial vital” regarding their Netflix contract, a royal commentator said. The couple signed a £80 million contract with the streaming giant in 2020 after they stepped down as senior working royals. The deal is nearing its end and the couple have released four projects- POLO, Heart Of Invictus, Live to Lead and Harry & Meghan docuseries. Meghan Markle is also set to release her cookery show in 2025.
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In Ernest Hemingway’s first novel, The Sun Also Rises, one of the characters is asked how he went bankrupt. “Two ways. Gradually, then suddenly.” Nearly 100 years later these lines still ring true. Bankruptcy — whether financial, moral or political — tends to happen gradually until it happens suddenly.
The moral bankruptcy of the Republican Party did not happen overnight. It happened gradually — starting with Newt Gingrich’s attack on the government in the early 1990s. It continued with the Tea Party movement, the birther conspiracy and the nomination of Donald Trump in 2016.
It gained momentum when Trump won the 2016 election despite losing the popular vote. Once in office, it grew worse when his attacks…
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Based out of Amsterdam, Wizenoze, a developer of an online education platform, has been declared bankrupt by the court in Amsterdam on 23-12-2024.
Lack of funding, generative AI, and more
According to co-founder Diane Janknegt, Wizenoze was doing well and needed funding for product development. They secured an agreement with an investor, but when they tried to finalise it at the notary, the payment didn’t arrive.
“Last summer, we had a signed agreement with an investor. But when we went to the notary to finalise it, the payment did not come,” she says.
Janknegt also revealed that this left her startup in a difficult position, stating that the financier’s withdrawal caused major issues, forcing them to focus on…