Dutch electric bike manufacturer, VanMoof, has been declared bankrupt, prompting many to think the wheels have come off the pandemic cycling boom. The Amsterdam-headquartered company, whose minimal designs and high prices earned the company the nickname of the Tesla of e-bikes, saw its sales surge in the Covid era. However, it has now run out…
Restructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
Summary The English High Court1 exercised its discretion to sanction a restructuring plan proposed by Prezzo Investco Limited (the Company), the parent company of Prezzo Trading Limited which is the operator of an Italian casual dining chain. The plan was opposed by HMRC, which had both secondary preferential claims and unsecured claims. In sanctioning the…
Restructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
This is the kind of complicated case that raises many difficult questions. Was a 25-year marriage built on nothing but deceit? A husband had showered his wife with gifts such as a Rolex watch, diamonds, rings, and necklaces worth hundreds of thousands as estimated by a private appraiser eight years ago. But was it all…
Most of the companys bondholders have agreed to accept bonds that are worth less than what they were owed but that are secured against real estate and other assets. Carvana, the troubled used-car retailer, on Wednesday announced that it had reached a debt restructuring agreement with most of its bondholders in an effort to lower…
More than 12,000 Wisconsinites will see their student debt wiped out under President Joe Bidens program to help borrowers who have had their loans mismanaged under income-driven repayment plans. The U.S. Department of Education (DOE) announced last week that $39 billion in debt relief would be provided through fixes to the income driven repayment program.…
Restructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
Popular health food company Bounce has entered voluntary administration. Bounce had been popular for its range of protein balls and other health snacks, however, the company has fallen on tough times. Documents published by the Australian Securities and Investments Commission (ASIC) last Friday have shown that Natural High Co Pty Ltd, which operates Bounce Foods,…
Pioneering electric bicycle manufacturer VanMoof was declared bankrupt in the Netherlands on Monday by the Amsterdam District Court, following the company’s pandemic-time boom. VanMoof’s court-assigned administrators are now looking into whether the Dutch company could be restructured or sold so that it can continue operations in the Netherlands. Known for selling sleek high-end bikes with…