Colombia is exploring the possibility of issuing loans denominated in Swiss francs—an unconventional and bold financial move as part of its ongoing efforts to manage the rising costs of its public debt.

The strategy aims to take advantage of the relatively low interest rates typically associated with the Swiss currency to refinance more expensive existing debt, particularly that issued in pesos and U.S. dollars.

Javier Cuellar, director of public credit at Colombia’s Ministry of Finance, confirmed that the government is negotiating loans of…

When Adelaide Designer Homes was placed into liquidation last month electrician Ralph Czabayski was one of more than 80 creditors left out of pocket.

It also left 20 home owners like Joanna and Henry Clough without a completed home.

They’re now living in their friend’s tiny spare room and are expecting a baby next month.

Mr Czabayski is $80,000 out of pocket. It’s a staggering figure but for him it’s just the cost of doing business.

His family has owned Star Electrical for more than 40 years and he told 7.30 Adelaide Designer Homes is the seventh builder who’s owed him money to have collapsed over the past 15 years.

“No-one likes to lose…

EUROPE: Retrack Slovakia and Retrack Czech have filed for insolvency. Parent company VTG said persistent challenges in the Eastern European traction market made a sustainable recovery impossible, despite its restructuring efforts and financial support.

Retrack Slovakia was founded as Carbo Rail in 2016 through the merger of Carbosped and Rail Sped. VTG Rail Logistics acquired a majority stake in 2020, and integrated it into its Retrack freight business under the name Retrack Slovakia.

Following a decline in the revenues in H2 2024, minority shareholder Rail Services Slovakia decided in January to sell its 40% stake to VTG.

On June 30 VTG said it had subsequently entered into ‘intensive discussions’ with the Retrack…

TOKYO – A record number of ramen noodle eatery operators in Japan went out of business in 2024, according to a research firm, as the food’s reputation for affordability limits room to raise prices amid soaring ingredient and utility costs.

Also hit by climbing personnel expenses due to labor shortages, insolvencies among ramen business operators resulting in liabilities of at least 10 million yen ($63,000) in 2024 jumped over 30 percent to 72, up from 53 in 2023, Teikoku Databank Ltd. said.

Japanese ramen soup noodles typically combine meat and vegetable toppings with broth. Despite rising costs, the average price of a bowl of ramen is still under 700 yen, according to Teikoku Databank. A popular lunchtime…

Last year, fashion designer Datuk Jovian Mandagie was ordered by the High Court in Kuala Lumpur to pay RM10 million to two companies after failing to repay two “friendly loans” of RM5 million each. Prior to this, the business owner had announced that his brand, along with its parent company, Jovian Mandagie Group Sdn Bhd, would cease operations after 17 years.

The public figure filed an appeal against the High Court’s decision, but there had been no updates on the case until very recently. It has now been reported that the once-successful entrepreneur has been declared bankrupt. Here’s the story:

For context, it was revealed last year that Datuk Jovian had verbally requested…

Sanctions Slow Down Biggest Liquidation in Ireland

The €4 billion liquidation of two major Irish-based companies has hit a roadblock due to international sanctions. These companies, GTLK Europe and GTLK Europe Capital, were owned by a Russian state-controlled parent company. After Russia’s invasion of Ukraine, sanctions were imposed by governments around the world — including the United States.

In 2023, an Irish court ordered both companies to be shut down after they failed to repay debts. Creditors were owed nearly $180 million, and bondholders had claims on more than $3.25 billion worth of issued bonds. That made this case the largest corporate liquidation ever in Ireland.

The two companies controlled a large number of…

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today announces filing for insolvency1 and requesting to be placed in receivership2 to the Versailles Economic Affairs Court3, as well as the suspension of CARMAT shares trading, starting June 30, 2025, before stock market opening.

Insolvency filing and request to be placed in receivership
On June 20, 2025, CARMAT announced in a press release being at risk of insolvency as early as the end of June 2025 unless managing before then, to secure additional cash of at least…

A troubled NSW coal mine has plunged into receivership and administration just months after it reopened following years of disuse.

Dartbrook Mine, an underground thermal coal joint venture in the Hunter Valley, had sat empty since 2006 until it was revived at the end of last year.

Its owner, ASX-listed Australian Pacific Coal, last month failed to meet its obligations for a $174 million loan to key backer Vitol, a Singapore-based commodities giant.

Australian Pacific Coal has now called in administrators from Deloitte and requested an “immediate” trading suspension on the stock market.

Vitol has since appointed receivers, insolvency firm FTI Consulting, to claw back its millions.

The mine had clocked up losses of $47 million and made less…