Insolvency Guardian Media Centre
The museum fit-out company, Elmwood Projects, has entered liquidation after filing for insolvency in July.
The Glasgow-based firm provided services for a range of high-profile museum and gallery projects, including the recent redevelopments of Glasgow’s Burrell Collection and St Fagans National Museum of History in Wales.
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13 hours ago, sweetmusicviola16 said:
What’s good for Rose should be good for Ohtani.
Rose gambled on baseball while he was a player/manager. That is prohibited. I don’t think Ohtani’s interpreter gambled on baseball, but who knows? And was it Ohtani who actually was the one gambling? It all seems suspicious, but hopefully MLB will do a thorough investigation. For the record, here is the MLB rule regarding gambling. If I’m reading it incorrectly, unless he was gambling on baseball or gambling illegally, it’s not against the rules. We will see what the investigation turns up.
(d) GAMBLING.
(1) Any player, umpire, or Club or League official or employee, who shall bet any sum whatsoever upon any…
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Benny Landa’s dream of synthetic diamonds success is nearing its end, about eight years after it began. Lusix, which produces rough laboratory diamonds, has requested a stay of proceedings under Section 4 of the new Insolvency Law—a move designed to provide temporary protection from creditors while attempting to consolidate a debt arrangement and set the company on a new path through a merger with another Israeli company. Lusix is represented in the proceedings by attorney David Hahn, the former Guardian General and the Official Receiver of Israel.
Lusix submitted the request to the court after it urgently appealed to its shareholders last week, asking them to transfer $22 million so it could continue operating. The company clarified…
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On the gambling books, Ippei Mizuhara was known by the account number “35966.”
Using that handle, Mizuhara made 19,000 illegal wagers with an Orange County bookmaker, averaging 25 bets a day, from $10 to $160,000, indicating the level of his alleged addiction. In one day in October, he made three bets totaling $233,386, authorities said.
Related: Ohtani’s interpreter charged with bank fraud, stealing $16 million from ballplayer
The former translator for Los Angeles Dodgers superstar Shohei Ohtani did his share of winning, to the tune of $142.5 million, in little more than two years. But it wasn’t nearly enough to cover his losses of nearly $183 million.
A federal affidavit filed Thursday, April 11, in the federal bank fraud case…
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The number of companies that have gone insolvent over the past year has exceeded the number that failed during the global financial crisis in 2008.
In the year to the end of July, 25,551 companies fell into insolvency, a figure 1.4 per cent higher than the 25,186 insolvencies recorded over the same period in 2008-09.
The numbers published by the Insolvency Service indicate that the effects of a steep ascent in interest rates since 2021 have become more pronounced. Until now, business failures have been relatively muted since the Bank of England started to increase borrowing costs nearly three years ago, while unemployment has remained surprisingly low at 4.4 per cent.
“The latest insolvency figures are a strong reminder that many…
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The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data.
In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023.
The figures included 320 compulsory liquidations – when a company is forced to shut down, usually because it has debts it cannot pay – which is the highest monthly number since before the Covid-19 pandemic.
David Hudson, restructuring advisory partner at FRP, said the rise reflected “months of high interest rates, weak demand and rising costs continuing to feed through”.
He said: “We expect insolvency levels to remain elevated for some time yet.
“While economic conditions are…
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Company insolvencies up 16% on July last year as cost hikes continue to bite MSN
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Instafreight, the Berlin-based digital freight forwarder that has been in operation since 2016 with over 200 employees and thousands of weekly transports, filed for insolvency on December 13 in the District Court of Berlin-Charlottenburg. The company cites the departure of its investor as the primary reason for the bankruptcy. In response, Instafreight is actively seeking sponsors or potential buyers.
While the start-up will continue to exclusively manage transportation (4PL), it has temporarily halted its own forwarding business (3PL) in the spot market.
The move comes after a significant financing round in spring 2022, where Instafreight secured $40 million in funding from investors such as Heliad…
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 "Byjus")
The tribunal has appointed Pankaj Srivastava as the interim resolution professional. (Photo: Reuters)
The Board of Control for Cricket in India (BCCI) on Tuesday achieved a feat that many creditors of edtech firm Byju’s have failed to, with the National Company Law Tribunal (NCLT) admitting its petition seeking insolvency proceedings against Byju’s parent Think and Learn over its inability to pay dues of Rs 158 crore. At the same time, the NCLT dismissed an application by Byju’s to refer the matter to arbitration.
So far there have been seven cases, including BCCI’s, where vendors have sued Byju’s at NCLT to recover dues. The only case where the edtech firm was able…
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Company insolvencies up 16% on July last year as cost hikes continue to bite MSN
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 "SKS Power Generation")
Torrent Power has claimed to be the highest bidder for SKS Power Generation.
The lenders of SKS Power Generation have received an upfront payment of Rs 1,950 crore from Sarda Energy and Mining, the successful bidder for the debt-ridden thermal power producer, the insolvency appellate tribunal NCLAT was informed on Tuesday.
Moreover, allegations of “malafide” intention or aligning towards any party while approving the resolution plan from Sarda Energy were also rejected during the proceedings of the NCLAT by senior advocate Mukul Rohatahi, representing the lenders.
A proper evaluation was made based on the earlier direction given by the NCLAT in this matter and a “clear…
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In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023.
The figures included 320 compulsory liquidations – when a company is forced to shut down, usually because it has debts it cannot pay – which is the highest monthly number since before the Covid-19 pandemic.
David Hudson, restructuring advisory partner at FRP, said the rise reflected “months of high interest rates, weak demand and rising costs continuing to feed through”.
He said: “We expect insolvency levels to remain elevated for some time yet.
“While economic conditions are improving, there are many businesses that have had their resilience ground down since the onset of the pandemic and that are now…