In a week that revealed the demise of at least three more building companies, the reality that it could have a devastating impact on anyone buying and building a new home has been rammed, well home. Building companies have been the worst hit segment of the economy when it comes to insolvencies, and the past…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…
The promoter and managing director of SpiceJet (SG, Delhi International) has agreed to inject INR5 billion Indian rupees (USD61 million) into the under-pressure airline to strengthen its financial position and maximise growth opportunities. Ajay Singh’s equity contribution will also assist the airline in accessing a further INR2.06 billion (USD25.1 million) via the Indian government’s Emergency…
The Florida insurance industry is in a state of crisis. Over the past year and a half, 15 Florida insurers placed moratoriums on writing new business in most counties and seven were declared insolvent. Then, earlier this week, Farmers Insurance notified policy holders that the company is pulling out of Florida altogether. It appears the…
In the latest in a string of legal actions relating to the crypto industry in recent weeks, Alex Mashinsky, the co-founder and former CEO of the now-bankrupt cryptocurrency lending platform Celsius, was taken into custody on Thursday, Bloomberg reported. The development follows an extensive investigation into the companys abrupt downfall, according to a source familiar…
(REUTERS) The former chief executive officer of bankrupt crypto lender Celsius Network Ltd. was arrested and charged with fraud by US authorities following a probe into the companys collapse. Mashinsky was charged with fraud and attempting to manipulate crypto currencies in federal court in New York Thursday. The Securities and Exchange Commission and the Commodity…
This article is authored by Joanne Wright with contributions from Tim Cooper, Partner, and Rebecca OCallaghan, Legal Director at Addleshaw Goddard. Introduction Once upon a time, the European courts were a maze for the intrepid UK cross-border recovery specialists to navigate, tracing assets of UK-based debtors into foreign lands. Then the UK agreed that it…
CEO of bankrupt crypto lender Celsius is arrested after probe into its collapse as SEC also launches investigation into him Alex Mashinsky, 57, is being sued by three regulatory agencies for fraud after the collapse of his crypto lender last year Celsius’ implosion left a $1.19 billion deficit according to bankruptcy filings It is the latest…
Source: Adobe/Canva The former CEO of bankrupt crypto lender Celsius Network Ltd., Alex Mashinsky, has been charged with fraud by the U.S. Department of Justice (DoJ) and sued by three regulatory agencies over the company’s collapse. Apart from the DoJ, Celsius and Mashinsky are also facing a barrage of lawsuits and allegations from various U.S.…
The Dutch e-bike startup VanMoof is on the brink of bankruptcy. The Verge reports the company has entered a so-called suspension of payment proceeding, in which a court-appointed administrator helps to lead the company out of debt. All options are on the table. Meaning Van Moof is also facing a possible sale. The procedure is…