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.

Rennie Scaysbrook | December 3, 2024

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…

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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…

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• 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….

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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. 

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A new report from Australia’s Lowy Institute highlights growing concerns about debt related development funding in the Pacific.

The seventh edition of the Pacific Aid Map, released last month, covers official development finance (ODF) from 2008 to 2022 and includes data on more than 37,000 projects.

One key concern mentioned is debt, with growing use of loans rather than grants, that do not need to be paid back.

“Some 60 percent of infrastructure financing in the Pacific is now being financed by loans,” the report said.

“While 75 percent of these loans are directed to the region’s largest economies, such as PNG and Fiji, the remaining quarter is allocated to smaller economies, a majority…

• 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…

WASHINGTON (WGEM) – U.S. Sen. Dick Durbin, D-Ill., is calling on the Biden administration to help out students who have been defrauded by for-profit colleges before President Joe Biden leaves office Jan. 20, 2025.

Durbin led a letter with U.S. Sen. Ed Markey, D-Mass., and U.S. Rep. Maxine Waters, D-Calif., to U.S. Secretary of Education Miguel Cardona asking him to ensure the department forgives student debt that people took out to pay for what Durbin calls “predatory schools.”

Durbin said the department needs to follow through on the promise it made in 2022 to 1.2 million borrowers who attended schools that engaged in documented fraud and misconduct. This includes students who attended Corinthian Colleges and ITT Technical Institute,…