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.
A Seoul court on Monday announced the liquidation of e-commerce platform operator WeMakePrice, two months after terminating the company's rehabilitation
Sven Goran Eriksson’s family have had to sell his six-bedroom mansion in Sweden with the ex-England boss leaving behind more than £7million worth of debt when he died
Sven Goran Eriksson left millions in debts after his death – leaving his family to sell off his assets(Image: Liverpool FC via Getty Images)
Sven-Göran Eriksson’s luxury mansion has been sold in a cut-price deal as his family offload his assets in a bid to serve the debts he left when he passed – which totalled more than £7million.
A Seoul court on Monday announced the liquidation of e-commerce platform operator WeMakePrice, two months after terminating the company’s rehabilitation proceedings.
WeMakePrice, along with its then sister company TMON, entered court-led rehabilitation proceedings in July last year, after they struggled to make payments to vendors due to liquidity issues.
The Seoul Bankruptcy Court in September this year terminated the proceedings for WeMakePrice as it failed to submit a rehabilitation plan.
WeMakePrice has sought for a swift acquisition to pay off its liabilities but has struggled to find a buyer.
Meanwhile, TMON was acquired by grocery delivery platform Oasis Corp. in June after the court approved its rehabilitation plan.
WeMakePrice’s headquarters in southern Seoul (Newsis)
A South Korean court on Monday declared the bankruptcy of WeMakePrice, marking the end of a failed rehabilitation effort to revive the troubled e-commerce business.
The Seoul Bankruptcy Court ruled WeMakePrice bankrupt, roughly a year and half after the platform filed for court receivership on July 29, 2024, along with its e-commerce affiliate Tmon.
In 2024, WeMakePrice and Tmon struggled with delayed payments due to a liquidity crisis associated with its parent company, Qoo10 Group.
Though WeMakePrice sought to pursue a merger or be acquired during the rehabilitation process, it struggled to find a buyer.
In September, the court terminated the rehabilitation proceedings…
A WeMakePrice logo seen at its company headquarters in Gangnam, southern Seoul, on July 30, 2024. A local court declared it bankrupt on Nov. 10. [NEWS1]
Gold and silver have started the week with firmer conviction, extending Friday’s rebound and signalling that investors remain willing to add exposure to precious metals despite another rise in bond yields. The macro backdrop is unusually mixed: signs of weakening US economic momentum are emerging at the same time that political negotiations appear to be nudging Washington toward ending the government shutdown.
Fiscal trajectory re-enters focus
A potential end to the shutdown matters for several reasons. At the surface level, it would allow key data releases to resume and give the Federal Open Market Committee a clearer picture of underlying activity ahead of its December meeting. The market continues to assign a meaningful probability…
Gold and silver have started the week with firmer conviction, extending Friday’s rebound and signalling that investors remain willing to add exposure to precious metals despite another rise in bond yields. The macro backdrop is unusually mixed: signs of weakening US economic momentum are emerging at the same time that political negotiations appear to be nudging Washington toward ending the government shutdown.
Fiscal trajectory re-enters focus
A potential end to the shutdown matters for several reasons. At the surface level, it would allow key data releases to resume and give the Federal Open Market Committee a clearer picture of underlying activity ahead of its December meeting. The market continues to assign a meaningful probability…
Affinity Interactive, a casino and media company, is partnering with the investment bank Moelis & Co. to engage in discussions with its bondholders in an effort to address its escalating debt challenges. This initiative reflects the company’s strategy to stabilize its financial position amid growing creditor unease over increasing debt levels.
Bondholders Seek Legal Assistance as Debt Concerns Grow
Several bondholders have reportedly enlisted the services of the law firm Akin Gump Strauss Hauer & Feld LLP, which specializes in corporate restructuring and Chapter 11 bankruptcy cases. These investors are apprehensive about Affinity’s financial outlook and the possibility that any debt restructuring deal could reduce the value of…
