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Seelos Therapeutics has initiated Chapter 11 bankruptcy proceedings, signaling a probable complete loss for shareholders. The biopharmaceutical firm's voluntary petition,
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The curtain is closing on ViewRay as the company enters the final stage of its corporate existence. With the bankruptcy proceedings transitioning to Chapter 7 liquidation, the complete dissolution of the business is now underway. The company’s shares have been relegated to over-the-counter trading, where they’re valued at a mere $0.002.
What began as a Chapter 11 restructuring effort has now culminated in Chapter 7 liquidation as of October 2023. This procedural shift represents the definitive move away from rehabilitation attempts toward complete corporate dissolution. The company is currently liquidating all remaining assets to satisfy…
Seelos Therapeutics has initiated Chapter 11 bankruptcy proceedings, signaling a probable complete loss for shareholders. The biopharmaceutical firm’s voluntary petition, filed on November 16, 2024, in US Bankruptcy Court, reveals a staggering financial imbalance that leaves little hope for recovery.
The company’s disclosed financial situation paints a dire picture. According to court documents, Seelos Therapeutics holds assets valued below $50,000 while confronting liabilities estimated between $10 million and $50 million. This dramatic discrepancy highlights the severity of the company’s financial distress and underscores the substantial risk facing stakeholders.
In direct response to the bankruptcy declaration, the OTC Markets…
Sonder, the short-term rental company in major cities around the world, announced last week that it is winding down operations immediately. On Monday, November 10, the firm revealed plans to file for bankruptcy in the US to liquidate its assets and to initiate insolvency proceedings in other countries where it operates.
In Dubai, Sonder offered apartments in popular areas such as Downtown Dubai, Business Bay, JBR, and Dubai Marina, promoting them as premium, fully serviced short-term rentals. Property owners or developers in Dubai who worked with Sonder may now need to re-list their units on other platforms or switch to traditional leases. Attempts to book any of the Dubai properties through Sonder have been unsuccessful.
Founded in 1972, Jayaswal Neco Industries, a smallcap company with a market cap of just over Rs 7,200 crore, is one of India’s oldest private-sector integrated steel companies, with operations spanning mining, iron-making and rolled steel products. However, the company had a tumultuous journey from heading to near bankruptcy to scripting a strong rebound with debt reduction and improved operations.
What the company does
Jayaswal Neco Industries Ltd (JNIL) is an integrated steel producer engaged in manufacturing pig iron, sponge iron, billets, rolled products and ferro alloys, supported by captive mining and power assets. Its operations are concentrated in Chhattisgarh and Maharashtra, where the company runs blast furnaces, steel…
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The end of South Africa’s G20 presidency does not mean the end of its ability or responsibility to promote the issues it prioritised during 2025. It can still advocate for action on some of these issues through its further participation in the G20 and in other international and regional forums.
In this article, I argue that going forward South Africa should prioritise the financial challenges confronting Africa that it championed in 2025.
South Africa established four overarching priorities for its G20 presidency. Two of them dealt with finance. One sought to “ensure debt sustainability for low-income countries”. The other was to mobilise finance for a just energy transition.
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Dominic Galati is a businessman with his fingers in many pies.
From entertainment companies to property deals and offshore shelf companies, he has been cosy with the colourful late stockbroker Rene Rivkin, crossed swords with billionaire Frank Lowy and even laid an unsuccessful claim to the Sydney Fish Market site.
But Galati’s fingers can no longer be seen in his latest pie: the infant formula company he founded was on the cusp of a cash bonanza and ready to float on the Australian stock exchange.
Care A2+ infant formula has disappeared from supermarkets, its US distributor has sued for misleading and deceptive conduct, and after raising at least $20 million from investors, Galati has…
