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.
Pakistan Hotels Developers Limited (PHDL) has issued an official notification addressing shareholder concerns regarding the company’s ongoing winding-up process. The
Leicester have eased fears over their deal with shirt sponsors BC.Game after the online betting site was reportedly declared bankrupt.
The Foxes have been assured the issue will not impact their contract with their main sponsor.
BC.Game signed a two-year deal with the Foxes in the summer but have reportedly been declared bankrupt by a court in the Caribbean nation of Curacao, where they are registered.
A Leicester spokesman said: “We have been and continue to be in regular discussions with BC.Game with regard to an active legal case in Curacao.
“BC.Game have provided the club with the strongest assurances that they are actively appealing this case, and that the process which has been initiated in Curacao is administrative in nature and…
A Hunan court confirmed the Stellantis joint venture was unable to repay debts despite a major sell-off of assets. By Stewart Burnett
A court in China’s Hunan province has declared GAC Fiat Chrysler Automobiles (GAC-FCA) bankrupt, ending the troubled joint venture between Stellantis and the state-owned Guangzhou Automobile Group. The bankruptcy administrator confirmed the company was unable to repay debts and lacked assets or conditions for restructuring.
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Today’s guest is Richard E. Farley, author of Drop Dead, a history of how the richest city in America got addicted to spending, saturated in debt, and crashed the municipal bond market—and then managed to get a federal bailout in the nick of time.
In 1975, New York City almost went bankrupt. Farley argues that the same conditions are reemerging today: runaway budgets, gimmicky accounting, overpromised entitlements, and politicians more interested in ideology than arithmetic. He wrote all this before the rise of mayoral candidate Zohran Mamdani, who promises to blow spending through the roof, enact new taxes, and create masses of new regulations.
If you want to understand what it takes to bankrupt a city, listen…
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
Pakistan Hotels Developers Limited (PHDL) has issued an official notification addressing shareholder concerns regarding the company’s ongoing winding-up process. The liquidation process, which began on December 31, 2024, follows the approval of a Special Resolution passed in the company’s General Meeting.
As per the Companies Act, 2017, PHDL aims to complete its winding-up proceedings by December 2025, which includes the settlement of debts, taxes, liabilities, and the resolution of any ongoing court cases.
The company’s liquidators have clarified that while the goal is to conclude the liquidation within the designated timeframe, unforeseen delays may occur. In such an event, PHDL plans to request a twelve-month extension from…
Like many, I was dismayed last week to see the news of Bedford Group headed for voluntary administration.
As an organisation with an 80-year history providing support for 1400 people with disability across South Australia, the hole this would create in the lives of the people they support and their families was unlikely to be easily or quickly filled by alternative providers.
But what disheartened me more was the announcement that the NDIS model was not sustainable for supported employment.
On the same day Bedford’s news hit the headlines, Ramsay Health Care announced the imminent closure of 17 psychology clinics around the country. While none of these are in South Australia, the rationale was rising costs and uneven demand. Again, the…
The National Company Law Appellate Tribunal (NCLAT) has formally closed the Corporate Insolvency Resolution Process (CIRP) of Grand Reality Pvt. Ltd., after confirming that the construction of the real estate project was completed and possession handed over to all homebuyers. The case reflects a rare but growing judicial trend where tribunals step in to ensure practical resolution for stakeholders, especially homebuyers, through a “reverse CIRP” model.
The appeal was filed by Satish Chander Verma, a stakeholder in the insolvency proceedings, challenging the continuation of the CIRP despite the project’s near-complete resolution.
Want a deeper insight into the Income Tax Bill, 2025? Click here
The Department for the Economy (the Department) has accepted a disqualification undertaking from the director of a company with a registered activity of retail sale of beverages in specialised stores.
The undertaking was received for ten years from Ian Terry Mayhew (45) of Laragh Park, Bangor, in respect of his conduct as director of Kauffee Ltd (“the Company”).
The registered activity of the Company was retail sale of beverages in specialised stores with a registered office at Unit 540, Moat House, 54 Bloomfield Avenue, Belfast, BT5 5AD. The Company went into liquidation on 31 March 2023 with…
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.
This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
2. Choose “App Settings” from the menu
3. Turn on the option “Links Open Externally” (This will use…
There are numerous approaches you can take to debt relief, so you’ll need to narrow down the options before making any moves.
Getty Images/iStockphoto
Many people struggle with debt. And thanks to high interest rates, rising costs of living, and other challenging financial conditions, that debt can be particularly hard to get out of these days.
“It’s always tough when it comes to getting out of debt,” says Wheeler Pulliam, a certified financial planner and financial consultant at Xponify Financial. “It’s even tougher to try…