Just days after Lightyear announced it was halting production on its flagship Lightyear 0 model to refocus on its more affordable Lightyear 2, the Dutch solar car companys main subsidiary, Atlas Technologies, has been declared bankrupt. The subsidiary is the main production company and the employer of Lightyears staff, so the bankruptcy affects 600 workers…
BATON ROUGE, La. (LSU Manship School News Service) – Legislators kicked off a special session Monday to address one agenda item: whether to approve $45 million for an incentive fund to persuade home insurers to come back to the state. Two bills were introduced in the House Monday: one to appropriate funds for the Insure…
New Delhi The Supreme Court on Monday dismissed Adisri Commercial’s appeals seeking stay on the insolvency proceedings initiated by RBI against its two debt-laden NBFCs – Srei Infrastructure Finance (SIFL) and Srei Equipment Finance (SEFL). A Bench led by Chief Justice DY Chandrachud’s upheld the order of the National Company Law Appellate Tribunal (NCLAT) rejecting…
Tuesday, 31 January 2023, 9:38 amPress Release: Nga Tangata Microfinance Trust Nga Tangata Microfinance Trust (NTMT) applauds the government making the current cost-of-living pressure their absolute priority in the coming months. This has even more significance considering the January floods and states of emergency declared in Auckland and Waitomo, and earlier in the month in…
Two bills were introduced: one to appropriate funds for the Insure Louisiana Incentive Program and a second to place some restrictions on the use of those funds. BATON ROUGE, La. Legislators kicked off a special session Monday to address one agenda item: whether to approve $45 million for an incentive fund to persuade home insurers…
DOF says it is probable that the company will be judged insolvent as they put forward final proposal to shareholders (DOF file photo)Published Jan 30, 2023 1:18 PM by The Maritime Executive The new board of directors of Norwegian offshore operator DOF is back with a new proposal to refinance the company and lower its…
Arrival ARVL, -2.47% said Monday that it will cut its global workforce in half, to about 800 employees, as it implements a restructuring aimed at cutting spending by about 50% to preserve cash. The stock was halted for news, until 9:00 a.m. Eastern. The Luxembourg-based electric vehicle maker also named Igor Torgov, a former Arrival…
Arrival is going through another restructuring this time led by a newly appointed CEO that will slash its workforce by about 50% as the the U.K.-based commercial EV company attempts to reduce operating costs and preserve cash. The company said Monday that Igor Torgov, former executive VP of digital at the company, has been hired…
Between 2017 and 2022, 11 property & casualty insurers domiciled in Florida were declared insolvent and placed into liquidation. In an attempt to restore stability to the marketplace, Governor Ron DeSantis issued a proclamation on April 26, 2022, calling the Florida Legislature into special session to reform Floridas Insurance Code. While the ensuing May special…
Shares in 888 lost more than a quarter of their value on Monday after the online betting company removed its chief executive and launched an investigation into failures to correctly follow anti-money laundering processes on VIP customer accounts. The Gibraltar-headquartered gambling group said on Monday it had suspended a series of VIP customer accounts in…