Insolvency Guardian Media Centre
Faarea Masud,Business reporter and
Danielle Kaye,Business reporter
Guests across the world have been told to leave their accommodation mid-holiday after property rentals firm Sonder suddenly went bankrupt.
The collapse came after hotel chain Marriott terminated its leasing agreement with Sonder, a year after the partnership had been established. It allowed Sonder rooms to be booked via Marriott’s various booking platforms and app.
But Marriott said “Sonder’s default” had led it to break up with the short-term rentals and serviced apartments firm.
One customer on Reddit said he couldn’t get back in to his room where his belongings were, while others shared pictures of themselves carting luggage through the streets, seeking rooms…
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BINGHAMTON, N.Y. (WBNG) — An Episcopal church in Binghamton is helping families get a fresh start by forgiving more than a million dollars in medical debt.
Christ Church is partnering with UnDue Medical Debt to purchase $1.5 million in debt. The organization acquires debt, often for pennies on the dollar, and then uses donation money to pay it off.
Every dollar donated eliminates $100 in medical debt.
Christ Church has been collecting money all year and just reached its goal.
“One of the foundational aspects in the Episcopal church is that we commit ourselves to striving for justice and peace among all people and respecting the dignity of every human being. This means second chances. This means forgiving debt,” said Scott Parnell,…
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Korean banks expand corporate restructuring candidates as insolvency risks rise – CHOSUNBIZ Chosun Biz
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Dr Ranjan Pai-led Manipal Education and Medical Group India Pvt Ltd (MEMG India) has formally submitted an Expression of Interest (EOI) to participate in the Corporate Insolvency Resolution Process (CIRP) of Think & Learn Pvt Ltd, the parent company of Byju’s.
According to documents filed with the Resolution Professional (RP), MEMG India has sought to be included in the list of Prospective Resolution Applicants (PRAs) and expressed its intent to examine the company’s financial and operational details for the purpose of evaluating a potential resolution plan. This is the second submission of EOI by MEMG after the time for such submission was extended by the RP to 13th November, 2025.
The submission by MEMG India,…
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Sonder, a global short-term rentals company, suddenly collapsed over the weekend after its bookings partnership with Marriott ended, leaving guests worldwide without accommodation on short notice.
A Sonder customer in Montreal, where the company was founded, told CNN that they received an email on Sunday afternoon informing them that they needed to vacate by the following day at 9 a.m., because Sonder’s licensing deal with Marriott was “no longer in effect.”
“I asked the staff if we could still stay until our checkout at 11 a.m., but the staff explained he had only received instructions to empty the building ASAP and that, unfortunately, we only had 10 to 15 minutes,” he told CNN.
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German court rejects shareholders’ bid for more of Wirecard insolvency spoils Reuters
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Another travel company to liquidate, all trips canceled TheStreet
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The Board of Directors for Aimco has decided to sell the REIT’s remaining assets, concluding its strategic review process.
In January 2025, Denver-based Aimco’s board of directors decided to explore alternatives to “unlock and maximize shareholder value,” which included a potential sale of the REIT as a whole or a disposition of major components of the business.
The REIT cited “the disparate composition of Aimco’s remaining assets and the market feedback received during a robust strategic process” as a driver behind the decision, according to a Nov. 10 press release.
The sale of the REIT’s remaining assets in multiple transactions “is likely to deliver…
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Disgraced financier Crispin Odey has placed a gold investment firm he controlled into liquidation, City AM can reveal.
Tri-Star…
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Denver apartment giant with $1.4B in assets plans liquidation The Business Journals
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Boonchai Wedmakawand/Getty Images
Credit card debt has reached staggering heights nationwide, with cardholders now carrying over $1.23 trillion in outstanding balances. And, credit card rates have been sitting close to record highs over the past year, which means that the cost of carrying that debt has only gotten steeper. With the average credit card APR now hovering over 20%, many card users’ balances are growing…
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IMF working with Senegal on reforms to underpin new support program Reuters