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.
Download CSVShow datatableNumber of bankruptcies of businesses and institutions (including sole proprietorships) adjusted for court sessions days2020July2272020August1952020September2122020October1902020November2102020December1742021January1722021February1432021March1652021April1932021May1632021June1392021July1252021August1092021September1412021October1262021November1832021December1592022January1392022February1822022March1662022April1192022May1892022June1642022July1482022August1482022September1742022October2192022November2282022December2692023January2252023February2742023March2102023April2362023May2522023June2982023July2542023August2652023September2932023October2852023November2952023December3852024January3662024February340
Administrators have been appointed after former Socceroos captain Lucas Neill was declared bankrupt in the UK.
Neill, who is believed to have earned about $40 million playing in England for 15 years, was declared bankrupt in January.
London-based Insolvency experts Begbies Traynor were appointed trustees to the bankruptcy last week.
“Mr Neill is due to be interviewed when he returns to the UK in the coming weeks,” Dale Hernon of Begbies Traynor said in a statement.
“At which point the trustees will be able to obtain the background information required to determine the full scale of Mr Neill’s debts. At this early stage of proceedings, it is currently unclear to what extent any funds will be recovered.”
When a publicly listed company ceases operations and goes into liquidation, the company’s shareholders may be entitled to a portion of the assets, depending on the type of shares they hold. However, the stock itself is usually worthless.
The owners of common stock shares are last in line for a share of the firm’s liquidated assets, so the hope is a faint one.
Key Takeaways
If a company declares Chapter 11 bankruptcy, it is asking for a chance to reorganize and recover. If the company survives, your shares may, too, or the company may cancel existing shares, making yours worthless.
If the company declares Chapter 7, the company is dead, and so are your shares.
Owners of common stock often get nothing when a company…
NEWS » Business » Armenian deputy Tigran Stepanyan declared bankrupt based upon plea of VTB Bank (Armenia)
In compliance with the order by Armenia’s Court of Cassation from May 29, 2013, Tigran Stepanyan, the deputy of Armenian Parliament from Prosperous Armenia party, is declared bankrupt, VTB Bank (Armenia) reported Thursday.
YEREVAN, July 11./ARKA/. In compliance with the order by Armenia’s Court of Cassation from May 29, 2013, Tigran Stepanyan, the deputy of Armenian Parliament from Prosperous Armenia party, is declared bankrupt, VTB Bank (Armenia) reported Thursday.
“In following the internal procedures of the VTB Bank (Armenia), since…
No matter which way you look at the numbers, they tell the same story: in the Global South – the name now given to the developing world – Pakistan is one of the most heavily indebted countries. Let me start by looking at some numbers for Pakistan. As of June 2023, Pakistan’s total public debt and liabilities was estimated to be $224 billion which is close to 75% of the country’s GDP. About $87.2 billion is the debt overhang of the government and $6 billion is owed by public sector enterprises such as Pakistan International Airlines,…
Calypso Destinations fell over with $2.3 million in unsecured creditors including Tyler himself, who is listed as claiming $924,000 in “loans to the company” that he made.
The liquidator’s report said Tyler may have a defence against insolvent trading claims because of advances made to the company that were under continuing investigation.
Tyler declined to comment when contacted. He asked this masthead to send questions to his lawyer, who did not reply.
Tyler told the liquidator he had begun to encounter financial problems with the advent of travel restrictions imposed during the COVID-19 pandemic.
He said the virus-era curbs had adversely affected the company’s performance. He cited factors including a substantial rise in operating…
There’s a classic scene in the movie The Naked Gun that reminds me of KTM’s current predicament, and accurately sums up my feelings toward the Austrian manufacturer.
It shows the film’s lead, Leslie Nielsen, right after chasing the film’s bad guy and watching him careen into a fuel tanker. He’s followed by an ICBM, then followed by a firework factory, and moves his way to the front of the crowd that had formed. And then, in a fit of perfect straight-man comedy, he tells them, “All right, nothing to see here. Please disperse. Nothing to see here!” as the entirety of what’s going on behind him goes up in smoke, fireworks, and (of course) giant fireballs.
The insolvency proceedings of KTM AG reached an important milestone with the holding of the first meeting of creditors on Friday. The meeting provided an opportunity to take stock of the company’s situation and to define the next steps in the restructuring.
Today was the big day for KTM AG
at the regional court in Ried im Innkreis, with the first meeting of creditors and the report meeting in the insolvency proceedings. The law is clear: in a restructuring procedure with self-management, the creditors must be brought together within three weeks of the start of the proceedings. The goal? Evaluate if
the company must close shop or if it can continue to operate, and especially, if a restructuring plan is viable for all.
The National Company Law Tribunal in Kolkata has admitted an insolvency petition filed by Union Bank of India against Solapur Tollways Private Limited under the Insolvency and Bankruptcy Code, 2016.
The insolvency claim amounts to ₹ 195,55,15,022/-, which includes a principal default amount of ₹ 184,23,36,839/- and an interest default amount of ₹ 11,31,78,183/-.
Sanjay Kumar Mishra has been appointed as the Interim Resolution Professional for the Corporate Insolvency Resolution Process regarding Solapur Tollways Private Limited.
Chen’s wife, Zhuojun “Sally” Li, had disappeared from their home in Greenacre, Sydney, last month. Her body was discovered last Monday. It was found partially buried and wrapped in plastic. A jogger found the body, and a search for Chen began.
On Tuesday, Chen’s body was found in a creek about 30 feet from where Li’s body was located.
“The body [was] submerged in a creek in water, covered with very thick bush foliage, bulrush reeds, which makes it very difficult to see and has been there for some time,” Detective Superintendent Danny Doherty said to reporters.
Where Police Are In the Investigation
After looking over security footage, authorities believe the couple was killed in their apartment on…
Former UFC champion Chris Weidman gave one of his friends a unique ultimatum over a $5,000 gambling debt.
Chris Weidman won’t back down from an eventual return to the UFC Octagon, despite recent calls for him to retire after a loss at UFC 310. It’s nothing new for the 40-year-old Weidman after several rocky performances since recovering from a nasty leg injury suffered against Uriah Hall at UFC 261.
As Weidman plots a UFC comeback, against a to-be-determined opponent, he’s enjoying some time away from fighting to rest and recover. But in or out of the cage, if Weidman gets to your back, you’re in a precarious situation.
Photo by Chris Unger/Zuffa LLC
After one of Weidman’s friends took a massive loss during poker night, the…
