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Show Fullscreen HUNGARY: A commercial court initiated liquidation proceedings on October 15 against rolling stock businesses Ganz-Mavag International and the
Former senator Linda Reynolds’ bid to discover where Brittany Higgins’ $2.4 million compensation payout went following their bruising defamation battle
Despite the introduction of the municipal Eskom debt relief programme in 2023, municipalities are still battling to address ballooning debt to the power utility.
According to the department’s Medium Term Budget Policy Statement (MTBPS), the debt has grown to some R94 billion as of the end of March this year – up from some R55 billion.
“While 24 municipalities have qualified for the first one-third write-off after 12 consecutive months of payments and 21 have generally maintained payments, as of 7 May 2025, 47 municipalities remain in default.
“This is the combined result of weak collections, excessive electricity and water losses due primarily to a lack of maintenance, and inadequate credit control. Measures are being taken to…
Home care and disability services provider Annecto Incorporated has entered voluntary administration, leaving more than 1,000 employees and 3,000 clients in limbo across Victoria, New South Wales, Queensland, and South Australia. In June, the…
Published
The Ministry of Finance of Belarus expects to attract additional funds from Russia to help repay the state debt. It also plans to borrow on the domestic market. The announcement was made by Finance Minister Yury Seliverstau during an expanded meeting of the Standing Commission of the House of Representatives on Budget and Finance.
According to Sputnik, the minister said that next year the government will need to repay 17.7 billion rubles of state debt. Servicing the debt will require 6 billion rubles, which will be covered by budget revenues.
“To make the repayments, it will be necessary to attract additional resources, which we plan to receive as financial assistance from the Russian Federation in accordance with previously…
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The South Gauteng High Court in NTC Global Trade Fund (Pty) Ltd and Another v Letopa and Others (2025/102392) considered the issue of validity of business rescue proceedings initiated by NTC Global Trade Fund (Pty) Ltd (NTC) while there were pending liquidation proceedings.
This case may open the door for the adoption of resolutions placing a company in business rescue even though there are liquidation proceedings pending in respect of that company, as it appears that the resolution will be valid until it is set aside.
If left unchallenged, the effect of this judgment will present practical difficulties for creditors that would undoubtedly be frustrated by companies adopting resolutions placing companies in business…
HUNGARY: A commercial court initiated liquidation proceedings on October 15 against rolling stock businesses Ganz-Mavag International and the Dunakeszi Járműjavító plant, both owned by Hungarian investment company Magyar Vagon.
Three days later, the national government responded by formally declaring the companies as strategic assets, deeming these operations to be of ’national importance for reasons of transportation safety and for of the provision of essential public services, as well as implementing projects that are nationally economically significant’.
Dunakeszi Járműjavító has been carrying out major overhauls of hauled coaches for national operator MÁV Személyszállítási Zrt, but local industry…
NBA Commissioner Adam Silver, during a press conference in 2015. Photo courtesy of Andy Lyons/Getty Images.
The NBA season is back, featuring exciting performances on the court and drama off the court with the arrests of multiple players and a coach. Kash Patel, Director of the FBI, announced on Oct. 23 that the agency made several arrests involving an investigation into illegal sports gambling and rigged poker games connected to organized crime families.
Now, NBA Commissioner Adam Silver needs to restore the league’s credibility, which is declining in an era where sports and gambling are more intertwined than ever before.
Former senator Linda Reynolds’ bid to discover where Brittany Higgins’ $2.4 million compensation payout went following their bruising defamation battle has been frustrated by a bankruptcy paperwork glitch.
Reynolds successfully sued Higgins over social media posts the former defence minister believed damaged her reputation.
This news release on bankruptcies focuses on the change compared to the previous year and on the bankruptcy rate. This is the number of declared bankruptcies per 100 thousand businesses. The bankruptcy rate provides a clearer picture of the change in the number of bankruptcies in the Netherlands. It also allows for better comparison between sectors. This is because the number of businesses can fluctuate over time and differ greatly between sectors.
Number of bankruptcies of businesses and institutions (including sole propiertorships) adjusted for court sessions days
