Former AC Milan owner Yonghong Li, who bought the Serie A club from Silvio Berlusconi in 2017 and lost control a year later, has been declared bankrupt.
The Chinese businessman raised eyebrows when he purchased the Italian team from Berlusconi in April 2017 at a cost of over €500m.
This was largely achieved thanks to a loan worth €303m plus a very high interest rate from Elliott Management.
MILAN, ITALY – APRIL 14: (L-R) AC Milan new board member David Han Li, new AC Milan Owner and President Yonghong Li, new AC Milan CEO Marco Fassone attend a press confernce to unveil AC Milan new owners on April 14, 2017 in Milan, Italy. (Photo by Studio Buzzi/AC Milan via Getty Images)
Now a tribunal in Hong Kong has made a bankruptcy order…
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Former AC Milan owner Yonghong Li, who bought the Serie A club from Silvio Berlusconi in 2017 and lost control a year later, has been declared bankrupt.
The Chinese businessman raised eyebrows when he purchased the Italian team from Berlusconi in April 2017 at a cost of over €500m.
This was largely achieved thanks to a loan worth €303m plus a very high interest rate from Elliott Management.
MILAN, ITALY – APRIL 14: (L-R) AC Milan new board member David Han Li, new AC Milan Owner and President Yonghong Li, new AC Milan CEO Marco Fassone attend a press confernce to unveil AC Milan new owners on April 14, 2017 in Milan, Italy. (Photo by Studio Buzzi/AC Milan via Getty Images)
Now a tribunal in Hong Kong has made a bankruptcy order…
Read the original article here
MILAN, ITALY – APRIL 14: In this handout photo provided by AC Milan, New AC Milan Owner and President Yonghong Li attends a press conference to unveil AC Milan new owners on April 14, 2017 in Milan, Italy. (Photo by Handout/Getty Images)
Former AC Milan owner Yonghong Li, who bought the Serie A club from Silvio Berlusconi in 2017 and lost control a year later, has been declared bankrupt.
The Chinese businessman raised eyebrows when he purchased the Italian team from Berlusconi in April 2017 at a cost of over €500m.
This was largely achieved thanks to a loan worth €303m plus a very high interest rate from Elliott Management.
Read the original article here
Former AC Milan owner Yonghong Li, who bought the Serie A club from Silvio Berlusconi in 2017 and lost control a year later, has been declared bankrupt.
The Chinese businessman raised eyebrows when he purchased the Italian team from Berlusconi in April 2017 at a cost of over €500m.
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This was largely achieved thanks to a loan worth €303m plus a very high interest rate from Elliott Management.
MILAN, ITALY – APRIL 14: (L-R) AC Milan new board member David Han Li, new AC Milan Owner and President Yonghong Li, new AC Milan CEO Marco Fassone attend a press confernce to unveil AC Milan new owners on April 14, 2017 in Milan, Italy. (Photo by Studio Buzzi/AC Milan via Getty Images)
When…
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Insolvency-related activity rose by 17% in Scotland last month, says R3, the UK’s restructuring, turnaround and insolvency trade body. R3’s analysis of data provided by CreditSafe indicated an increase in insolvency-related activities from 106 in September to 124 in October.
October 2024 figures are 9% higher than the same period in 2024, which saw a spike in insolvency activity.
The monthly increase in insolvency-related activity which includes administrator and liquidator appointments together with creditors’ meetings is a trend mirrored in the vast majority of the rest of the UK, with a decrease only in Wales.
“The rise in insolvency-related activity in Scotland last month is a clear…
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Sonder, the hotel chain founded in 2014 and that took over the Duane Street Hotel on Church Street in 2021, has ceased to exist. (Thanks to the note from A., who spotted the sign on the door.)
As of November 10, the company completed the “immediate wind-down of operations” and expects to initiate a Chapter 7 liquidation of its U.S. business, according to the press release on its website. The company also intends to initiate insolvency proceedings in the international countries in which it operates.
My first thought: the fate of Modern Bread & Bagel in its base… They were hoping to open in December.
Sonder entered a…
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Brazil’s Oi declared bankrupt, faces liquidation Data Center Dynamics
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Quadrant Televentures Delays Q2 Financial Results Declaration scanx.trade
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Keppler family counts the cost of failed venture Waikato Times
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What Medical Debt Cancellation Teaches Us About Our Failing Health-Care System The Roosevelt Institute
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LIQUIDATION NOTICES: Creditors Voluntary Winding-Up – October 2025 Credit Connect
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