Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
(Bloomberg) — A mainland Chinese court accepted a liquidation application filed against a China Evergrande Group unit earlier this month, triggering a formal legal process that ratchets up the pressure on the defaulted developer to either restructure or face liquidation in its main base of operations under a worst-case scenario.
The Intermediate People’s Court of Guangzhou City, where Evergrande is based, accepted the application filed against Guangzhou Kailong Real Estate as of Aug. 9, according to a Hong Kong stock exchange filing late Monday. Kailong, fully owned by Evergrande, has a stake of around 60% in Hengda Real Estate, the developer’s main property operation onshore, a separate exchange filing showed.
In 2023/24, the additional benefit income generated for residents increased by 35.1%, with just under £48million secured through claims and appeals.
The team dealt with around 1180 people per month, with residents contacting them directly through the dedicated telephone number or email.
Other referrals came from councillors, MSP’s/MP’s, NHS Lanarkshire and council services such as social work, education and housing.
“I’d like to thank and congratulate everyone involved on what they have achieved and for making such a positive difference to the lives of thousands of people and families across North Lanarkshire,” said Councillor Chris Costello, Convener of the Wellbeing and Tackling Poverty Committee.
Earlier this year, a judge at a specialist bankruptcy court ruled that the 46 year old must pay 40% of her monthly income from adult entertainment site OnlyFans until February 2027. Lawyers for the trustee of her bankruptcies had previously requested that the order be extended to include TikTok, but representatives for the platform stated…
Shared office space company WeWork filed for bankruptcy late Monday, joining a crowded list of high-profile companies to go under recently, as 2023 heads toward becoming the second-busiest year for bankruptcies in more than a decade.
WeWork filed for bankruptcy Monday, becoming the latest high-profile firm to go under.
Getty Images
Key Takeaways
WeWork’s filing for Chapter 11 bankruptcy protection put a bow on its dramatic fall from a $47 billion valuation to a below $50 million valuation, but arguably the most impactful string of bankruptcies came in the traditional banking and digital asset sectors.
KaDeWe goes bankrupt: What next for Berlin’s house of luxury?
The KaDeWe department store first opened in 1907, with the giant building long since standing as a symbol of West Berlin luxury, wealth and consumerism. That gilded reputation has now been tarnished as the KaDeWe group, who operate the building, filed for bankruptcy on January 29.
How did this happen? As late as November last year, managing director Michael Peterseim was giving interviews saying the store was doing well. But the truth may have been a little murkier. According to a report in rbb, it seems the company has been violating…
A judge has demanded that part of Katie Price‘s income be suspended after she was declared bankrupt for a second time.
The 46-year-olds earnings from TikTok have been suspended by a judge in order to pay off money owed under her two bankruptcies. The former glamour model was first declared bankrupt in 2019 and again in March this year over an unpaid tax bill of more than £750,000.
The hearing comes just one week after she was arrested at Heathrow Airport after she failed to attend court hearings related to her bankruptcy case.
It was the second hearing she missed, after the first in April. At the start of the previous missed hearing, it was revealed that Price had told lawyers less than 24 hours before the start time that she could not…
A recent Federal Court ruling has found that the transfer of super from a husband to his wife’s superannuation account is no longer protected as an interest of the bankrupt in a regulated super fund under the Bankruptcy Act 1966.
Terence Wong, senior associate at Sladen Legal, said the court made the ruling in the decision of Kirk as trustee of the Property of Smith (a Bankrupt) v Smith [2024] FCA 240 (15 March 2024) citing section 116(2)(d)(iii)(A) of the Bankruptcy Act 1966 (Cth) (Bankruptcy Act).
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Katie Price will have her income from social media platform TikTok suspended as part of efforts to pay off money owed under her two bankruptcies, a judge has ruled.
The former glamour model was declared bankrupt in November 2019 and again in March this year, and is due to face questions over her finances in London later this month.
In February, a judge at a specialist bankruptcy court ordered that the 46-year-old must pay 40% of her monthly income from the adult entertainment website OnlyFans until February 2027.
Barristers for the trustee of her bankruptcies had previously asked for the order to be extended to cover TikTok, but lawyers for the platform said that while it did not oppose the move, it could not consent to it due to the…
Nearly one in 10 councils in England have warned they will go bust in the next 12 months as authorities plan widespread cuts, above-inflation council tax rises and across-the-board increases to resident charges, a survey has revealed.
The Local Government Information Unit (LGIU) annual poll of local authority leaders and top managers reveals a near-total collapse in confidence in the financial viability of councils as they grapple with “desperate” pressures and shrinking budgets.
It warns that council insolvencies – once extremely rare and triggered by unusual special factors such as the failure of commercial investments – should now be regarded as “normal occurrences” likely to hit even well run authorities.
Katie Price will have her income from social media platform TikTok suspended as part of efforts to pay off money owed under her two bankruptcies, a judge has ruled.
The former glamour model was declared bankrupt in November 2019 and again in March this year, and is due to face questions over her finances in London later this month.
In February, a judge at a specialist bankruptcy court ordered that the 46-year-old must pay 40% of her monthly income from the adult entertainment website OnlyFans until February 2027.
Barristers for the trustee of her bankruptcies had previously asked for the order to be extended to cover TikTok, but lawyers for the platform said that while it did not oppose the move, it could not consent to it due to the…
