SolarWorld AG, Europes largest independent solar energy company has filed for insolvency in Germany due to the difficult market environment as low-cost panels, mostly manufactured in Asia, have glutted the global market. SolarWorld is led by Frank Asbeck, a colorful businessman known as the Sun King in Germany, who has led the charge against what…
BERLIN (AP) German solar panel maker SolarWorld AG has filed for insolvency, citing the effect of falling prices in the industry. The company said late Wednesday its management had concluded that “due to the ongoing price erosion and the development of the business, the company no longer has a positive going concern prognosis.” It added…
NEW DELHI: The Bankruptcy Board is looking to shorten the time for insolvency resolution of smaller companies, which will also include startups, said Insolvency and Bankruptcy Board of India (IBBI) chairperson MS Sahoo. We had put out a discussion paper to allow this for small companies which have a capital of less than Rs 50…
Dealing with Puerto Ricos crushing debt has started to resemble a circular firing squad. Simply put, the bankrupt island cant pay everything it owes, so creditors are taking aim at each other as they squabble over who will get whats left. But the debts size and the tangled process invented to rescue Puerto Rico mean…
Details Published on Thursday, 11 May 2017 16:23 View Comments IPOH – As many as 5,845 people in Perak were declared bankrupt by the Malaysian Insolvency Department (MDI) from 2012 to last year, said its Perak director Hezlin Haldi. He said according to records, those individuals were between the ages of 35 to 44. “Most…
IPOH: As many as 5,845 people in Perak were declared bankrupt by the Malaysian Insolvency Department (MDI) from 2012 to last year, said its Perak director Hezlin Haldi. He said according to records, those individuals were between the ages of 35 to 44. “Most of these cases were due to problems with personal, vehicle and…
Provisions to rehabilitate the state’s 450 mines in NSW are inadequate, their required outcomes vague and the risks of long-term failure are uncovered, according to a report by the Auditor-General. While the total value of deposits made by mining companies had quadrupled since 2005 from $500 million to $2.2 billion as of the end of last year, the…
IPOH: As many as 5,845 people in Perak were declared bankrupt by the Malaysian Insolvency Department (MDI) from 2012 to last year, said its Perak director Hezlin Haldi. He said according to records, those individuals were between the ages of 35 to 44. “Most of these cases were due to problems with personal, vehicle and…
Once the flagship of Germany’s solar industry, Solarworld announced Wednesday the company could not be rescued in its current form, meaning it had to file for insolvency “without further delay.” The firm’s board said the company’s outlook was far too bleak to keep on trying, pointing to a big mountain of debt. Solarworld has been…
After more than a decade of economic recession, Puerto Rico is broke. The governor of the island, Ricardo Rosselló, announced on May 3, that he filed for a bankruptcy-type protection, as established by Title III of The Puerto Rico Oversight, Management, and Economic Stability Act, known as PROMESA. Congress and President Obama approved this law…