Earlier today, Fisker finally did what has seemed inevitable these past few turbulent months: declared bankruptcy.
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LDRBristol City Council’s plan to balance its books when it comes to supporting children with additional needs could exceed the time and money currently proposed.
If the authority misses its targets for children with special educational needs and disabilities (SEND), the council ‘will be effectively bankrupt’.
During an election debate on BBC Radio Bristol’s John Darvall programme, Green councillor Tony Dyer said he was doubtful a Safety Valve programme, which includes more school place for SEND children, would be delivered on time.
“Our concerns for this are the timeframes are very tight. We think it’s going to…
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Rex enters voluntary administration, grounds 737s Bunbury Mail
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“Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently,” the company said in a statement. “After evaluating all options for our business, we determined that proceeding with a sale of our assets under Chapter 11 is the most viable path forward for the company.”
For anyone paying close attention, this isn’t that surprising. Fisker has been sounding the warning about its dwindling cash stockpile for months. It did all the things you’re supposed to do to rein in costs. It laid off over 15 percent of its…
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Rex enters voluntary administration, grounds 737s Daily Liberal
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Credit: Shutterstock.
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Workers have been hit with major job losses after the regional airline collapsed.
Flights have been cancelled as the airline, under Regional Express Holdings Limited, went into voluntary administration on Tuesday.
The airline’s domestic fleet of Boeing 737 services has been grounded in the collapse, while flights between major airports have been cancelled.
But flights between regional locations are unaffected.
Federal Transport Minister Catherine King says the government will work closely with administrators “to ensure a strong regional aviation presence in the future.”
“The government will act expeditiously, but we will also be acting carefully in this space,” she said, saying nothing had been ‘ruled in or out’.
“It is a…
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Sports Unlimited Retail (SUR), which is a subsidiary of JD Sports-owned Iberian Sports Retail (ISRG), trades from 52 stores in the Netherlands under the Sprinter, Aktiesport and Perry Spors brands.
The business will now be run by a bankruptcy trustee as appointed by the district court of Amsterdam, the Netherlands.
A SUR spokesperson said: “Sports Unlimited Retail B.V. (SUR), a wholly-owned subsidiary of Iberian Sports Retail Group (ISRG), appointed a bankruptcy trustee under Dutch law on 6 December, 2023.
“We appreciate this is a difficult time for SUR colleagues in the Netherlands and we are doing our utmost to support them in conjunction with ISRG and the bankruptcy trustee.”
JD Sports bought…
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Popular drinks company Billson’s collapses The Standard
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The Federal Court’s recent decision in Hall v CAP Security Services Pty Ltd [2023] FCA 1237 highlights an interesting and practical solution for former directors who receive a director penalty notice after their directorship has ended.
Director penalty notices (DPNs)
The Australian Taxation Office (ATO) can issue a DPN to the director of a company where the company has failed to comply with certain reporting obligations and payments under the Taxation Administration Act 1953 (Cth). The effect of receiving a DPN is that a director will be personally liable for the relevant tax or superannuation debts of the company unless, within 21 days of the DPN being issued by the ATO, they:
- rectify the non-compliance of the company;
- put the…
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Dutch startup Pieter Pot has officially declared bankruptcy, following the Rotterdam court’s decision on Thursday, December 14.
The announcement came after the court declined to grant Pieter Pot an additional week for an alternative rescue and financing plan, leaving Jouri Schoemaker (founder) in the dark about the precise reasons behind the decision.
“We had to call the court this morning and were only told that the bankruptcy has been declared,” says Schoemaker to RTL nieuws.
According to bankruptcy declaration, Pieter Pot faces a debt of €1.8M, leading the judge to doubt the company’s ability to stay afloat.
The Rotterdam court also expressed doubt about starting a crowdfunding campaign aimed at raising fresh…
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Taxpayer lifeline open for under-pressure airline Rex The Northern Daily Leader