Corporate bankruptcy filings in Brazil surged in 2024, marking the second consecutive year of increases despite positive surprises in the country’s gross domestic product (GDP) over the past two years. Experts expect this trend to persist in 2025 as rising interest rates and exchange rates weigh on companies’ financial health.

An insolvency administrator has put KTM’s shares in MV Agusta up for sale, as the Austrian company continues to reel in from a financial crisis.

KTM’s parent company Pierer Mobility AG had acquired a 25.1 per cent stake in MV Agusta in November 2022, before taking over the majority of the company in March of this year.

Now, its entire 50.1% stake in the Italian motorcycle company is being sold, according to an announcement made by a regional court in Ried im Innkreis in Upper Austria on 17 December.

The administrator is also selling all shares in MV Agusta Services as part of insolvency proceedings against KTM.

Rumours suggest that former owner Timur Sardarov may be interested in buying back shares in MV…

Vijay Mallya, the fugitive businessman, has sparked a fresh controversy by claiming that banks have recovered more than twice the amount he owed. In a recent social media post, Mallya stated that banks have recovered ₹14,131.60 crore from him, whereas the Debt Recovery Tribunal had adjudged the Kingfisher Airlines (KFA) debt at ₹6,203 crore, including ₹1,200 crore of interest.

His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over ₹14,130 crore from his attached assets.

In a series of posts on X, Mallya argued that unless…

The application to open insolvency proceedings is expected to be filed in the next few days, as the company announced. The Management Board’s decision was taken ‘due to Manz AG’s inability to pay and its over-indebtedness under insolvency law’.

The decision by Manz AG’s lenders “not to provide any further funding” is cited as the reason for the insolvency. However, it would only have been a matter of time before insolvency occurred. “Independently of this, Manz AG is also over-indebted under insolvency law,” the press release states.

In recent weeks, the Managing Board is said to have held “intensive discussions with a number of lenders and investors regarding new equity and debt capital.” “Discussions with one of…

A letter sent by Opposition leader Chris Hipkins to BlackRock asking for assistance to ensure 160 terminated SolarZero staff are paid what they are owed has been met with silence.

Hipkins sent a letter to David Giordano, BlackRock’s managing director of climate infrastructure, on December 4, one week after news broke that NZ’s leading solar panel company was going into liquidation. 

Staff at the 50-year-old firm were called into a meeting on November 26 and told their American shareholder, the giant American investment firm BlackRock, had appointed liquidators. Their jobs were terminated with immediate effect and former staff and contractors are owed millions in unused annual leave as well as redundancy payments.

Hipkins’…

Excessive gambling can lead to addiction which in turn may push people into debt. A young man, who law enforcement suspects accumulated a large gambling debt, was recently found dead together with his wife near an airport in Sydney, Australia.

Lifeless Bodies Found in a Park

Law enforcement is now looking for two or three people, suspected of killing the couple. Details regarding the chilling murders were disclosed in a report by the Daily Telegraph. The couple had been missing for more than two weeks as they were last seen at the end of November.

Initially, the woman’s body was found last week. Identified as Z.L., the female victim’s body was found wrapped in plastic by a jogger near…

AB “Panevėžio statybos trestas” (hereinafter referred to as the Company) hereby informs that on December 9, 2024, during an extraordinary shareholders’ meeting of UAB “PST investicijos,” it was decided to liquidate UAB “PST investicijos.” This decision was made considering that UAB “PST investicijos” does not conduct any economic activities, and that the Company, in implementing its strategy, seeks to streamline the structure of its managed entities. 

 It is…

The debt swap agreement will help fund education, health and social services projects across Egypt.

The Ministry of Planning announced that Egypt and Germany have signed a EUR 77.3 million debt swap agreement to support education, health and social services.

A EUR 48.3 million portion of the funding is allocated to the Comprehensive Education Initiative Project which includes Technical Support (EUR 16.31 million) to improve Egypt’s technical education system and Financial Support (EUR 32 million) to enhance infrastructure with creating or rehabilitating green buildings, and creating vocational training centres to meet labour market demands.

Another EUR 29 million will fund projects improving…

Exactech, a Florida device manufacturer that faces more than 2,000 state and federal lawsuits from patients who allege the company sold defective hip and knee implants, filed for bankruptcy protection Tuesday.

The Gainesville-based company said in a statement it was restructuring and would be sold to an investor group of private equity and “alternative asset” firms, which would provide about $85 million in financing to fund the company’s operations.

Darin Johnson, Exactech’s president and chief executive officer, said in the statement that the device company faces “unsustainable liabilities associated with knee and hip litigation related to the packaging recalls we voluntarily initiated between 2021 and 2022.” The company said it would…