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.
For all of us involved in frontline support for people experiencing problem debt, it’s perhaps inevitable that we tend to focus on the most immediate priority of helping people to stabilise their most pressing difficulties. But it’s also important to recognise both the need and the aspiration of many people in debt and on low incomes to build up financial resilience for the future, including through savings.
At first glance, the idea of building up savings while being on a low income and also dealing with debt may seem impossible. Yet within the Standard Financial Statement guidelines that advisers use to determine an affordable budget for the resolution of debts, it’s possible to build in a modest amount of money to be…
Elon Musk has made a startling claim on Bill Gates saying that the Microsoft co-founder may go bankrupt if Tesla becomes world’s most valuable company.
It is to be mentioned that Elon Musk, who is world’s richest person, hit another milestone after his net worth reached $400 billion, becoming the first person ever to achieve this feat.
Meanwhile, Musk’s latest remark has reignited an old debate between him and Bill Gates which dates back to 2022.
The feud between two entrepreneurs ignited after Bill Gates suffered a loss of $1.5 billion due to his short position on Tesla’s stock.
Following up with the matter, Musk had earlier wrote on X, “If Tesla does become the world’s most valuable company by far, that short position will…
COLOMBO – The Government of the Democratic Socialist Republic of Sri Lanka has announced indicative results of its recent consent solicitation and invitation to exchange concerning the country’s existing bonds. The initiative, which launched on November 25, 2024, has seen significant bondholder participation ahead of the December 12, 2024, expiration deadline.
According to the indicative results, instructions from holders representing 96% of the principal amount outstanding of the existing bonds have been received. This includes a series of bonds with varying maturities, ranging from those due in April 2023 to those maturing in March 2030.
The exchange invites eligible holders of the aggregated collective action clauses () existing…
Elon Musk, the world’s richest man, said that Microsoft co-founder Bill Gates could face bankruptcy under certain circumstances involving Tesla, the electric vehicle company Musk leads.
Musk wrote on X, “If Tesla does become the world’s most valuable company by far, that short position will bankrupt even Bill Gates.” This comment has reignited their long-standing feud over Gates’ alleged short position in Tesla stock.
Musk’s response followed a reshared tweet from a user (Teslaconomics), highlighting Musk’s previous explanation of short selling and Gates’ position.
Musk explained, “Just so that the public understands: Taking out a short position against Tesla, as Gates did, results in the highest return only if a company…
LONDON – Atrato Onsite Energy plc, a listed company, announced on Friday that its shareholders have approved a special resolution for the company to enter into members’ voluntary liquidation. The resolution was passed during a General Meeting held earlier today.
The poll results showed an overwhelming majority in favor, with 99.93% of votes cast supporting the liquidation, representing 47.67% of the issued share capital. A mere 0.07% voted against the proposal. Ernst & Young LLP’s Derek Neil Hyslop and Richard Peter Barker have been appointed as joint liquidators.
In line with the liquidation process, trading of the company’s Ordinary Shares on the London Stock Exchange (LON:) was suspended this morning, and steps have been taken to…
Electric Guitar announced on Friday that its primary operating subsidiary 3radical was set to enter creditors’ voluntary liquidation (CVL) after failing to secure a buyer for its business as a going concern.
The AIM-traded firm said that despite a marketing effort conducted with KRE Corporate Recovery, no offers were received for the subsidiary, which had struggled with revenue and new business generation falling significantly below expectations.
It said the decision to liquidate followed Electric Guitar’s inability to provide additional funding to 3radical due to capital constraints.
Efforts to secure external investment to sustain 3radical or to advance the company’s buy-and-build strategy in advertising and marketing technology…
Four years after hearing the president promise bold action on student debt, most borrowers are still no better off, and many—especially defrauded debtors—are measurably worse off.
More than 420,000 British gamblers lose at least £2,000 a year, according to a major report that warns losses on the most addictive products are “strongly skewed” towards deprived areas.
The report lays bare the punishing losses incurred by the heaviest gamblers and raises “concern” at the low level of intervention by gambling companies to prevent them suffering harm.
Its findings sparked renewed calls for a government review of gambling regulations, due within days, to include tough affordability checks and stake limits on online slot machines, which allow punters to bet large sums on a single “spin”.
Researchers from the National Centre for Social Research (NatCen) and the University of Liverpool raised particular concerns…
Two historic German shipyards have filed an application for insolvency as hundreds of workers are left in the cold…
Shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) and superyacht shipyard Nobiskrug have officially filed for insolvency, deepening the ongoing crisis for their parent company, Tennor Group, and its owner, Lars Windhorst.
District courts in Flensburg and Neumünster have appointed the lawyers Christoph Morgen, Partner, Brinkmann & Partner and Hendrik Gittermann, Partner, REIMER as provisional insolvency administrators. The insolvency filings, submitted to the district courts in Flensburg and Neumünster, follow months of financial instability and reported mismanagement.
