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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.

Shoes of Prey appoints administrators: Australian fashion icon collapses – NEWS.com.au

When Shoes of Prey launched in 2009, it became a tearaway success almost immediately. But now, just one decade later,

“We learnt the hard way”: Shoes of Prey collapses into liquidation, ending months of uncertainty – SmartCompany.com.au

Australian fashion startup and former industry trailblazer Shoes of Prey has collapsed into liquidation, ending months of uncertainty surrounding the

Biden vs. Warren: Round 1 – POLITICO

Theodoric Meyer is a Politico reporter. On a February morning in 2005 in a hearing room in the Dirksen Senate

CMC Spreadbet Pursues British Billionaire James Stunt over Gambling Debt Exceeding £1 Million – Casino Guardian

British billionaire James Stunt has admitted that he is being chased over a massive gambling debt worth more than

StartupLand darling Shoes of Prey files for insolvency – iTnews

One of Australias most heavily touted tech startups - custom footwear-maker Shoes of Prey - has filed for insolvency. Helpfully,

Alleged Omagh bombers declared bankrupt | Ireland – The Times

Aodhan O FaolainMichael McKevitt was among four men found liable for the attackPACEMAKER PRESSThree men found liable for the Omagh

Uttam Value Steels Ltd. – Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors – The Hindu BusinessLine

Sub: Outcome of the 10th Meeting of Committee of Creditors of Uttam Value Steels LimitedDear Sir,This is in reference to

New York Media Cuts 5% of Full-Time Staff in Restructuring – Adweek

|48 mins agoNew York Media is laying off 16 full-time staffers and an additional 16 part-time and freelance staffers in

FutureFuel.io Raises $11.2M to Help Users Pay Off Student Debt – EdSurge

DEBT RELIEF: Education-focused venture capital firm Rethink Impact has led an $11.2 million Series A round for FutureFuel.io, which provides

Liz Weston: Can your employer cure your money woes? – Washington Post

By Liz Weston of Nerdwallet|AP, Millions of Americans get their health insurance and retirement accounts through their employers.

British Billionaire Pursued for £1 Million Gambling Debt – Tunf.com News

Controversial billionaire James Stunt is being sued by CMC Spreadbet for just over 1

Chapter 11 bankruptcy, explained – Vox.com

Bankruptcy leaves the impression of utter failure, and when a company goes bankrupt, its easy to assume that its dead,

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When Shoes of Prey launched in 2009, it became a tearaway success almost immediately.

But now, just one decade later, the customisable footwear company has become the latest victim of Australias struggling retail industry.

Shoes of Prey has just entered into liquidation, with Kelly Trenfield and John Park of FTI Consulting appointed as administrators yesterday.

On Sunday, co-founder Michael Fox broke the bad news in a post on Medium bearing the title The Shoes of Prey journey Ends.

In it, he cited the companys failure to gain traction in the mass market as well as its difficulty in competing with cheap Chinese manufacturers as two driving reasons behind the collapse.

Its a sad end for a company which was once prepped to scale into the $100ms…

Read the full article at: https://www.news.com.au/finance/business/retail/groundbreaking-footwear-startup-shoes-of-prey-goes-into-liquidation/news-story/7dd034ba8f9886ea175c2424921b6507

Australian fashion startup and former industry trailblazer Shoes of Prey has collapsed into liquidation, ending months of uncertainty surrounding the startup after it was put on pause in August last year.

Liquidators from FTI Consulting Kelly Trenfield and John Park were appointed to manage the winding down of the startup, which was founded in 2009 by Michael and Jodie Fox, and Mike Knapp.

Shoes of Prey offered shoppers ways to customise and design their own footwear, and was a golden child in Australias nascent startup scene, attracting investment from Blue Sky Capital and a number of high-profile individuals, such as Mike Cannon-Brookes and Bill Tai.

However, the startup was mired with controversy and uncertainty last year, with the…

Read the full article at: https://www.smartcompany.com.au/startupsmart/news/shoes-of-prey-collapses-liquidation/

On a February morning in 2005 in a hearing room in the Dirksen Senate Office Building, Joe Biden confronted Elizabeth Warren over a subject theyd been feuding over for years: the countrys bankruptcy laws. Biden, then a senator from Delaware, was one of the strongest backers of a bill meant to address the skyrocketing rate at which Americans were filing for bankruptcy. Warren, at the time a Harvard law professor, had been fighting to kill the same legislation for seven years. She had castigated Biden, accusing him of trying to sell o…

Read the full article at: https://www.politico.com/magazine/story/2019/03/12/biden-vs-warren-2020-democratic-primaries-bankruptcy-bill-225728

British billionaire James Stunt has admitted that he is being chased over a massive gambling debt worth more than 1 million. The 37-year-old man further shared that he plans to settle the debt by using paintings of Picasso and Monet, which he has previously lent to the Prince of Wales.

Reportedly, the seven-figure loss was generated by Stunt with a spread-betting operator called CMC Spreadbet. As written in court documents, the British billionaire is seeking to pay off his debt, so he has proposed borrowing 70 million secured in return to a fine art collection he has lent to Prince Charles. The collection consists of paintings by Dali, Picasso, Monet, Van Dyck and Constable and is estimated to a total of 225 million…

Read the full article at: http://www.casinoguardian.co.uk/2019/03/12/cmc-spreadbet-pursues-british-billionaire-james-stunt-over-gambling-debt-exceeding-1-million/

One of Australias most heavily touted tech startups – custom footwear-maker Shoes of Prey – has filed for insolvency.

Helpfully, co-founder Michael Fox has explained why in a Medium post.

The TL;DR: even though it had a loyal fan base among well-heeled women who appreciated its shoe customisation service, the company was never profitable and couldnt find a way to get there.

The Shoes of Prey schtick was an online shoe design tool, focused on stylish womens footwear. The company was hailed as a pioneer of personalised and customised apparel. It won a stack of awards from the retail and startup industries to attest to its early splash. Its founders were asked to speak at conferences to describe their insights into the…

Read the full article at: https://www.itnews.com.au/news/startupland-darling-shoes-of-prey-files-for-insolvency-520414

Aodhan O Faolain

Michael McKevitt was among four men found liable for the attackPACEMAKER PRESS

Three men found liable for the Omagh bombing have been declared bankrupt by the High Court after failing to pay damages to relatives of the victims.

The car bomb on a street packed with shoppers killed 29 people, including nine children and a woman pregnant with twins, in the Co Tyrone market town on August 15 1998 and was the biggest single atrocity of the Troubles. Some 220 others were injured. Police had inadvertently moved people towards the bomb after receiving inaccurate telephone warnings. Nobody has been convicted of the murders, for which the Real IRA claimed responsibility, although they said that they had not meant to kill civilians a…

Read the full article at: https://www.thetimes.co.uk/article/alleged-omagh-bombers-declared-bankrupt-wtlh5wkpb

Sub: Outcome of the 10th Meeting of Committee of Creditors of Uttam Value Steels Limited

Dear Sir,

This is in reference to the captioned subject.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 10th meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (the Company) was held on March 11, 2019 to discuss the agenda items stated in the notice of the meeting.

You are requested to take the same on record.

Pdf Link:
Uttam Value Steels Ltd. – Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

Source : BSE – www.bseindia.com

Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/uttam-value-steels-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article26499564.ece

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48 mins ago

New York Media is laying off 16 full-time staffers and an additional 16 part-time and freelance staffers in a restructuring that is intended to put it on firmer financial footing, the company said today.

The cuts primarily affect New Yorks audience development and circulation teams, its copy and fact-checking desks and its video and production teams.

In some cases, the changes we are making reflect a need fornewfocus as we build out our digital subscription business; in others, they reflect an overdue integration of print and digital staffs, said Lauren Starke, a spokesperson for New York Media. In no case are they a judgment on the quality of the work produced by our colleagues who are leaving, and we thank them sincerely for …

Read the full article at: https://www.adweek.com/digital/new-york-media-cuts-5-of-full-time-staff-in-restructuring/

DEBT RELIEF: Education-focused venture capital firm Rethink Impact has led an $11.2 million Series A round for FutureFuel.io, which provides a platform to help employees pay down their student debts. The Boston-based company has now raised a total of $15.7 million, according to a statement.

Founded in 2016, FutureFuel.io allows employers to offer student debt repayment as an employee benefit. The company claims it can help users pay off their debt up to five years faster.

Other participants in the fundraising round include Breton Capital, First Data, G9 Ventures, The Impact Engine, Salesforce Ventures, SixThirty and Vulcan Capital.

Rethink Impact founder and managing partner Jenny Abramson has joined the FutureFuel.io board of directors. …

Read the full article at: https://www.edsurge.com/news/2019-03-11-futurefuel-io-raises-11-2m-to-help-users-pay-off-student-debt

By Liz Weston of Nerdwallet|AP,

Millions of Americans get their health insurance and retirement accounts through their employers. Now some are getting help with their debt.

Companies including insurer Aetna and accounting firm PwC help employees pay down student loans. Others partner with startups to offer debt solutions as an employee benefit. Among the approaches:

MedPu t negotiates discounts on medical debt and offers interest-free loans that are repaid through payroll deductions.

Brightside connects workers to debt consolidation loans and student loan refinancing.

HoneyBee, PayActiv and TrueConnect , among others, provide payday advances or emergency loans so struggling workers can avoid the payday loan trap.

FINANCIAL …

Read the full article at: https://www.washingtonpost.com/business/liz-weston-can-your-employer-cure-your-money-woes/2019/03/11/60e3ea2a-440e-11e9-94ab-d2dda3c0df52_story.html

Controversial billionaire James Stunt is being sued by CMC Spreadbet for just over 1 Million that Stunt allegedly lost by gambling on currency changes.

Stunt rose to fame by being married to Formula 1 heiress Petra Ecclestone and styles himself as a playboy billionaire. Stunt and Ecclestone are now divorced.

CMC Spreadbet is looking 1,002,103 plus a daily interest of 219 until the debt has been paid.

According to court documents, Stunt is hoping to pay off the debt by loaning the money against a 225 million fine art collection that he is currently loaning out. His collection includes paintings from Monet, Picasso and Dali.

Stunt has also suggested he could liquidate his wine collection worth in the region of 600,000….

Read the full article at: https://news.tunf.com/british-billionaire-pursued-for-1-million-gambling-debt/451812

Bankruptcy leaves the impression of utter failure, and when a company goes bankrupt, its easy to assume that its dead, may it rest in peace. According to this line of thinking, heres an alarming tidbit: If you regularly travel by plane, theres a decent chance youve flown with an airline that was bankrupt at the time. United filed for bankruptcy in 2002, followed by Delta in 2005, and American Airlines in 2011.

While bankruptcy can result in the liquidation or sale of a company, it also presents an opportunity for it to restructure while continuing to operate, suspend or reconfigure debt payment, and get back on its feet, so to speak. That was the case for United, Delta, and American, which all exited bankruptcy in less than four years…

Read the full article at: https://www.vox.com/the-goods/2019/3/11/18259894/bankruptcy-business-chapter-11-close-stores

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