Insolvency Guardian Media Centre

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.
Bedford to enter voluntary administration  Port Lincoln Times Read the original article here
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Disability support service and employer Bedford will go into voluntary administration in the coming days. In a statement it said that,
Singapore: Liquidators issue notice of second dividend for Xihe Holdings  Manifold Times Read the original article here
South Australian disability service provider Bedford faces administration  Glam Adelaide Read the original article here
A petition for Pittsburgh Fife Limited to be wound up and a liquidator appointed was presented to Dunfermline Sheriff Court
Flippin’ Fun trampoline park in liquidation, mum saddened at loss of West Auckland kids’ party favourite  NZ Herald Read the original
 According to Sifted, an assistant to the chairman of the Vilnius District Court stated that, after assessing the data, the
The court declared Promtransbank bankrupt  AKM.RU Read the original article here
SINGAPORE - Catalist-listed ST Group Food plans to liquidate its loss-making subsidiary in the UK, GCTea Outlets 2B, which operates
Pemex Bonds Surge as Mexico Mandates Debt Deal to Support It  Bloomberg.com Read the original article here
Credibur emerged from stealth Wednesday (July 23) and announced it secured $2.2 million in pre-seed funding to launch its platform

Bedford to enter voluntary administration  Port Lincoln Times

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Disability support service and employer Bedford will go into voluntary administration in the coming days. 

In a statement it said that, after an “exhaustive negotiation process with the state and federal governments, banking and commercial partners NAB”, it had advised its clients, families and staff that the organisation was expected to enter voluntary administration on Sunday, July 27.

The statement said the “heartbreaking” move would “directly impact 1,400 people with disability across South Australia”.

Bedford CEO Myron Mann said it remained “steadfast in our commitment to supporting each of our clients, residents and staff during this challenging time”.

“It is a devastating situation with vast personal impact,” he said. 

“Bedford…

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Singapore: Liquidators issue notice of second dividend for Xihe Holdings  Manifold Times

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South Australian disability service provider Bedford faces administration  Glam Adelaide

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A petition for Pittsburgh Fife Limited to be wound up and a liquidator appointed was presented to Dunfermline Sheriff Court on July 14.

The action was lodged by the Advocate General for Scotland for and on behalf of the Commissioners for His Majesty’s Revenue and Customs.

READ MORE: Memorial fundraiser to celebrate life of Dunfermline schoolboy

The address for the company was given as 3 St David’s Business Park, Dalgety Bay, and any parties claiming an interest were asked to contact the court within eight days.

Liquidation is the process of closing a limited company. It involves selling assets to pay off debts and dissolving the company from the official register at Companies House.

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Flippin’ Fun trampoline park in liquidation, mum saddened at loss of West Auckland kids’ party favourite  NZ Herald

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According to Sifted, an assistant to the chairman of the Vilnius District Court stated that, after assessing the data, the court found the defendant to be insolvent and unable to meet its financial obligations on time. As a result, the court has initiated bankruptcy proceedings and appointed IS Group as the insolvency administrator. Shortly after, kevin announced on LinkedIn that it plans to challenge the court’s decision.

 

Lithuania-based payments fintech kevin, which previously raised over USD 65 million, has been declared insolvent by the Vilnius District Court.

 

A challenging year for kevin 

The court’s ruling comes after a year of financial struggles for the company, which was once regarded as one of the fastest-growing tech firms in Central and Eastern Europe according to Sifted. In July 2024, the Bank of Lithuania restricted kevin from offering payment services to…

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The court declared Promtransbank bankrupt  AKM.RU

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SINGAPORE – Catalist-listed ST Group Food plans to liquidate its loss-making subsidiary in the UK, GCTea Outlets 2B, which operates a food and beverage outlet under the Gong Cha brand in the country.

PappaRich, Ippudo, and Hokkaido Baked Cheese Tart are other brands owned or franchised by the Australia-based company.

“It has been determined that it is no longer viable for GCTea Outlets 2B to continue its business due to amongst others, (its) liabilities… and the challenging economic situation in the UK,” the food and beverage company said on July 23.

While the liquidation will result in some losses on a pro-forma basis, it will likely have a positive impact on the group’s consolidated net tangible assets (NTA) and earnings per…

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Pemex Bonds Surge as Mexico Mandates Debt Deal to Support It  Bloomberg.com

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Credibur emerged from stealth Wednesday (July 23) and announced it secured $2.2 million in pre-seed funding to launch its platform for debt facility management.

The company is already launching with its first pilot customers, it said in a Wednesday press release.

Credibur’s platform targets alternative lenders and institutional investors, according to the release.

It facilitates the structured credit portfolio business between nonbank lenders and institutional capital providers by automating workflows and delivering critical data in real time, the release said.

The platform orchestrates the full life cycle of institutional funding, including structuring, reporting, contract management, capital calls and the administration of special…

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