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The Twente-based startup Superlight Photonics was declared bankrupt this week due to irreconcilable differences between founder Haider Zia and the shareholders about further financing. CEO Cees Links told Bits&Chips he’s currently working with the court-appointed trustee on a restart. “The entire management team is behind this, and at the moment, it’s business as usual for all employees,” says Links.
Credit: Superlight Photonics
Links expects to get the green light to continue the business within a month. The foundation for this will be the current team and the patents for broadband laser technology, owned by photonics accelerator Photondelta. The so-called supercontinuum laser that Superlight is developing is smaller, lighter…
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Cathay Cineplexes’ parent company, mm2 Asia, said that the voluntary liquidation of its cinema chain business is unlikely to have a major impact on its core businesses or continuing operations.
In a bourse filing on Wednesday (Sept 3), the entertainment company responded to queries from the Singapore Exchange Regulation and said that the liquidation will instead “expected to improve the group’s overall cashflows and profitability”.
mm2 announced the voluntary liquidation of Cathay earlier on Monday (Sept 1), citing that it was “no longer feasible” to continue with operations due to the group’s inability to reach any “mutually agreeable restructuring outcomes of its payment obligations” to creditors.
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A Sydney-based cookie business has been plunged into voluntary administration, owing millions of dollars to creditors and staff.
The Spotted Cow Cookie Company was taken over by administrators Hugh Armenis and Michael Carrafa from SV Partners last month.
The administrators have taken over operations and advertised the business for sale as they liaise with other companies interested in purchasing the company and its assets.
The company’s future could be decided as early as this Friday, when a second…
Dana White is allegedly carrying a significant casino debt.
Sources from Casino.org claim that the figure owed to Las Vegas’ Red Rock Casino is an amount somewhere between $25 million and $50 million. Despite the staggering total, the debt is not believed to be an indicator of financial hardship for White, whose personal wealth is reportedly well over a half-billion dollars. Instead, the balance is said to have accumulated during high-stakes games.
This reported loss stands in stark contrast to the numerous public wins that White has made known. In July, for instance, he was seen winning a massive $1.2 million at the Fontainebleau casino on the night before UFC 317. White also famously boasted that he “clipped”…
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Stay informed about the latest case laws on Company Law with this comprehensive overview as we delve into the latest cases reported in the Company Cases (Comp Cas), focusing on critical issues such as Corporate Insolvency, Banking business, Dishonour of cheque, Securities Market Transactions, Resolution plan, Moratorium, Winding up and Liquidation.
(2025) 554 Comp Cas
Debt, financial and monetary laws — Bank — Banking Business — Dishonour of cheque — Offences and Prosecution — Failure to establish legally enforceable debt — Discrepancies in complainant’s case regarding loan transactions — Cheque amounts exceeding alleged debt remained unexplained — Held, findings of acquittal did not suffer from perversity — No…
Stay informed about the latest case laws on Company Law with this comprehensive overview as we delve into the latest cases reported in the Company Cases (Comp Cas), focusing on critical issues such as Corporate Insolvency, Banking business, Dishonour of cheque, Securities Market Transactions, Resolution plan, Moratorium, Winding up and Liquidation.
(2025) 554 Comp Cas
Debt, financial and monetary laws — Bank — Banking Business — Dishonour of cheque — Offences and Prosecution — Failure to establish legally enforceable debt — Discrepancies in complainant’s case regarding loan transactions — Cheque amounts exceeding alleged debt remained unexplained — Held, findings of acquittal did not suffer from perversity — No…
