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.
Increasing global insolvency levels heighten risks for executives. The febrile geopolitical landscape poses liability challenges for global corporations caught up
Creditors McGrath Nicol last week outlines three options for the company: an end to the administration, a deed of company arrangement or liquidation.
Administrators recommended the second option as it offered the best return for creditors by allowing them to govern how to deal with the company’s affairs.
Mr and Mrs Cowan said they were ‘thrilled’ by the outcome which secured the future of the company and the 159-year-old brewery it’s based out of.
Iconic drinks brand Billson’s Brewery has been thrown a lifeline and avoided liquidation following a creditors’ vote on the future of the company today.
The company, which is housed in a 159-year-old brewery in Beechworth in north-east Victoria, went into administration in July.
A report from creditors McGrath Nicol published last week outlined three options for the company — an end to the administration, a deed of company arrangement or liquidation.
Administrators recommended the second option as it offered the best return for creditors.
Company owners Nathan and Felicity Cowan outside the historic brewery. (Supplied: Facebook)
In a statement on social media, owners Nathan and Felicity Cowan said they were “thrilled” to have secured…
People › Other
Published: December 2, 2024; 14:32 (Vindobona)
The longstanding Austrian motorcycle manufacturer KTM is on the brink of collapse. The company filed applications for restructuring proceedings with self-administration with the Ried Regional Court. The company’s financial difficulties are serious: with liabilities of over 1.8 billion euros, the KTM crisis is one of the biggest insolvencies in the history of Austrian industry.
November 2024 will go down as one of the darkest periods ever for KTM, the Austrian motorcycle giant entering a self-administration debt restructuring plan with the Austrian Ried Regional Court on November 29 with reported liabilities of a staggering €2.9 billion ($3.03 billion).
Self-administration is a European market measure that allows for a 90-day effort to reorganize and secure financing to continue operations before a company falls into insolvency.
KTM AG reports €2.7 billion in liabilities with approximately 1600 creditors and 2380 employees affected. KTM Forschungs & Entwicklungs GmbH and KTM Components GmbH, on the other hand, assumes liabilities of around €105 million ($110…
Culinary events company Hickory has announced that it will enter into administration. Professionals from Opus Restructuring & Insolvency have been installed to oversee the work.
Established in 2012, Hickory is a Scotland-based events firm, with a reputation for “bold culinary events in incredible venues, with a focus on innovative and invigorating menus”, according to its website. The company has also championed sustainability measures in the catering sector, and adopted a Quality Management System integrating ISO 9001 as part of the company culture. The company ensured that quality was woven throughout every part of their business, including development and training. This ethos helped…
Increasing global insolvency levels heighten risks for executives.
The febrile geopolitical landscape poses liability challenges for global corporations caught up in world events.
“AI washing” is an emerging risk trend, leading to securities class action lawsuits.
D&O market remains competitive but a step up in scrutiny of corporate conduct around the globe means loss potential is still high.
SINGAPORE – Media OutReach Newswire – 5 December 2024 – Directors and Officers (D&Os) have been operating in a highly complex environment throughout 2024, and further volatility can be expected during 2025. Executives face multiple exposures in an increasingly interconnected…
By Sydney Price ( December 4, 2024, 8:31 PM EST) — The Consumer Financial Protection Bureau informed a California federal court that a purported debt relief services company and its owner have agreed to cease operations and pay civil penalties for allegedly charging customers illegal upfront fees….
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
Filing for bankruptcy doesn’t always mean the end for an American business.
There was a historic surge in U.S. corporate bankruptcy filings in June, with the highest number recorded in a single month since at least the start of 2020, new data shows.
The number of corporate bankruptcy filings as of June 2024 also surpassed half-year figures seen in over a decade, according to S&P Global Market Intelligence, which shares financial and industry data.
S&P Global Market Intelligence said it recorded 75 new corporate bankruptcy filings in June.
Red Lobster files for Chapter 11 bankruptcy
Axios reporter Richard Collings joins LiveNOW’s Andrew Craft to dissect Red Lobster’s decision to file for Chapter…
