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.
The company that would one day become Genesis HealthCare was founded four decades ago this year. By 2015, it became one of the largest post-acute care providers in the country with more than 500 skilled nursing centers across 34 states, according to its website.
But as the health care chain quickly expanded, it also faced more complicated industry regulations and requirements and fewer profits, investors and owners said in court documents. Those hurdles were then compounded by challenges during the COVID-19 pandemic.
Tesla (TSLA) is not paying its bills, and this has led to at least two small American businesses going bankrupt. The automaker had over $110 million in liens with contractors over the last 5 years.
CNN released a new report that examines lien claims from contractors hired by Elon Musk’s companies in Texas, particularly Tesla.
In Texas, contractors have filed liens for more than $110 million against Tesla in the last five years. Over $24 million is still allegedly owed to dozens of businesses, according to the report.
In two cases, contractors, most often small American businesses, had to file for bankruptcy due to the unpaid bills.
The first liquidators report has been published after three more companies run by Jacks Point property developer Dean Franklin went into liquidation with IRD tax debts of $2.1 million and loans owed by related parties of over $8 million.
Falconer Corporate Ltd, Founder Corporate Ltd and S R Corporate Ltd all entered liquidation on June 24, 2025 following a legal petition from the IRD. On the following day, June 25, 2025, Formcrete Construction Ltd also went into liquidation with debts of $7.5 million.
The liquidators of the three additional companies, PWC, say that the companies were all formed in 2018 with Dean Franklin as the sole director and shareholder.
“We have been advised that the reasons contributing to…
The Supreme Court’s (SC) decision to recall its May 2 judgment that had ordered the liquidation of Bhushan Power and Steel (BPSL) is a significant positive outcome for the Insolvency and Bankruptcy Code (IBC) and the overall framework for stressed asset resolution in India. The top court’s decision to hear the case afresh on August 7 acknowledges the implications of the earlier judgment on thousands of BPSL workers; on a company that has been turned around to a profitable and healthy going concern; and on investor confidence in the insolvency process. It’s also a realisation on the part of the apex court that on economic and commercial issues, it should consider the unintended consequence of its decisions.
The Insolvency Service has officially confirmed that Nottingham Rehab Limited and NRS Healthcare Limited are in liquidation.
It follows a range of news stories reporting that NRS Healthcare, which supplies assistive technologies to the NHS and local authorities, was on the brink of going bust.
Today, (1 August 2025), winding up orders were made against Nottingham Rehab Limited (trading as NRS Healthcare) and NRS Healthcare Limited. The court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator.
Following an application made by the Official Receiver, the court also appointed Mark James Tobias Banfield, Edward Williams, Helen Laura Wheeler-Jones, Adam Seres, and David James Kelly of PwC as Special Managers of the…
The government has introduced its bill to reduce student debt. Photo: Australian National University.
The Federal Government has fired the starter’s gun on the business schedule for the new parliament by introducing its legislation to cut student debt.
Labor’s bill seeks to cut 20 per cent off all higher education student debts, with the aim to wipe away more than $16 billion for about three million Australians.
It’s likely to pass with little trouble, as both the Opposition and the Greens have signalled enough initial support for it to get up when it arrives in the Senate.
The government won’t need any help to have it first pass the House of Representatives.
Anthony Albanese said the aim of the bill was to deliver cost of…
Students and graduates will soon receive a cut to higher education debts but advocates say the government must do more to make university fees fairer.
Legislation was introduced to parliament on Wednesday to slash HECS debts by 20 per cent and increase income thresholds before minimum repayments kick in.
It is expected to be passed with the support of the opposition in the coming weeks.
Prime Minister Anthony Albanese credited the bill as a key reason behind Labor’s victory in the May election.
“Because it resonated with those young Australians in particular, who are looking for intergenerational equity measures, which is what this is, saving some three million Australians an average of $5500 each,” he said during question time.
The government has introduced its bill to reduce student debt. Photo: Australian National University.
The Federal Government has fired the starter’s gun on the business schedule for the new parliament by introducing its legislation to cut student debt.
Labor’s bill seeks to cut 20 per cent off all higher education student debts, with the aim to wipe away more than $16 billion for about three million Australians.
It’s likely to pass with little trouble, as both the Opposition and the Greens have signalled enough initial support for it to get up when it arrives in the Senate.
The government won’t need any help to have it first pass the House of Representatives.
Anthony Albanese said the aim of the bill was to deliver cost of…
Many African countries are already struggling with heavy debt burdens. Climate change is making this worse. Africa contributes the least to global emissions but suffers the most from extreme weather, rising temperatures and drought. These disasters affect not just people’s livelihoods but also national revenues, making debt repayment harder. Yet traditional debt contracts don’t account for this.
Debt forgiveness can help erase your debt, but it’s important to know whether it’s worth pursuing with rates still paused.
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The Federal Reserve made headlines again this week when it decided to keep its benchmark interest rate unchanged at a range of 4.25% to 4.5% during its July meeting. The decision to hold rates steady is a continuation of the central bank’s wait-and-see strategy, which it has implemented for 2025 as it monitors how inflation trends and policy decisions impact the costs of everything from…
