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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…
After months of teetering on the edge of collapse, Fisker has finally filed for bankruptcy. The American electric car start-up led by car designer Henrik Fisker stopped production of its only model, the Ocean, in March when it revealed that extra funding would be required to continue operations.
Fisker’s operating arm, the Fisker Group, officially filed for bankruptcy in the USA on 17 June, after failing to find an investment partner to rescue the ailing operation. Despite hitting key production and launch date targets, Fisker was hit by softening demand for the Ocean and supplier issues. Fisker hoped to build more than 42,000 Ocean models in 2023 but ended up producing just 10,193. Fewer than half were delivered to customers.
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New York (CNN) — This year was brutal for a number of well-known companies and their bottom lines.
As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. Other brands fell victim to changing trends or even more malicious ailments, like cyberattacks.
At least 19 companies have cut a combined 14,000 jobs because of bankruptcies, according to Challenger, Gray & Christmas, an outplacement services firm.
Notably, retail closures have picked up this year because the sector’s sugar high of 2021 and 2022 — when consumers were…
The U.S. retail brand Big Lots has announced Going Out of Business (GOB) sales across all its remaining locations. The decision comes after the company failed to finalize its planned asset purchase agreement with Nexus Capital Management. This move was initially expected to help the company recover its financial situation.
The retail chain is loved by shoppers for its low-cost furniture, home goods, and more. They officially filed for Chapter 11 bankruptcy in September 2024.
Big Lots is continuing to explore alternative deals with Nexus, and other buyers. However, the absence of a finalized agreement has made the retailer liquidate its…
It was revealed this week Roto Whare owes money to several Rotorua businesses, but the biggest debt of $28.2 million is to an American business, Florida-headquartered financier Quaestor Advisors LLC, of Jacksonville.
Details of what Roto Whare owed were revealed in the liquidator’s first report. Among Rotorua businesses out of pocket were Metal Line Roofing, Rotorua ITM, Davidsons, Design Tilers, Handon Heating, Sigma and Redwood Joinery.
In response to Rotorua Daily Post questions, Jacobson said the two projects – Ngongotahā and Koutū – were not related.
“Mountview was placed in liquidation because of financing issues … Mountview is close to completion, with most properties completed and sold. The issues at Mountview are specific…
The United States election was one of the most defining events in the crypto space in 2024. Specifically, the reelection of Donald Trump revived Bitcoin and the entire crypto market after an uninspiring second and third quarter.
One of the promises made by President-elect Trump in the run-up to the polls was the institution of a strategic Bitcoin reserve. Unsurprisingly, most of the recent crypto conversations has been around the BTC reserve and its potential impact on the US economy and the crypto landscape.
Why Should The US Establish Strategic Bitcoin Reserves?
CryptoQuant CEO and founder Ki Young Ju is the latest to weigh in on the issue of strategic Bitcoin reserves in the United States. In a post on the X platform, the…
