JD Sports Dutch subsidiary Sports Unlimited Retail has been declared bankrupt. Sports Unlimited, which is a subsidiary of Iberian Sports Retail (ISRG) that JD Sports owns, has 52 stores across the Netherlands under the Sprinter, Aktiesport and Perry Spors brands. The control of the stores will now move to a bankruptcy trustee as appointed by…
Share this article Local news site RTL Nieuws claims JD Sports Dutch subsidiary owns 54 stores across its three retail brands and employs around 1,100 people. The site also suggests Sports Unlimited Retail suffered a 9m loss in 2021, but reportedly did not fear for its survival as it was financially supported by JD Sports.…
SpiceJet (SG, Delhi International) has defeated one of several efforts have it declared insolvent after its legal counsel successfully argued against the maintainability of the case. On December 4, 2023, Justices Mahendra Khandelwal and Rahul Prasad Bhatbagar of the New Delhi bench of the National Company Law Tribunal (NCLT), dismissed the petition by Willis Lease…
The pilot measure for mutual recognition and assistance of insolvency proceedings between the courts of three pilot areas in Mainland China and Hong Kong was agreed in mid-2021, which is known as the Cooperation Mechanism. Since then, liquidators in Hong Kong have had a more certain and structured route to seek, through Hong Kong Court,…
Lukasz Nowak, 43, a self-employed builder from Hounslow, West London, was sentenced to 20 months imprisonment, suspended for two years, at Lincoln Crown Court on 27 November 2023. He was also ordered to pay 12,000 compensation to the bank from which he borrowed the money. Nowak applied for a 50,000 Bounce Back Loan in October…
VIENNA, Dec 4 (Reuters) – Property tycoon Rene Benko’s Signa Holding filed for insolvency in Vienna last week, the biggest such case Austria has seen and the largest victim to date of Europe’s property crash. Benko, 46, built the complex constellation of companies headed by Signa Holding from the ground up, starting from humble origins…
council tax bill Local authorities are at risk of bankruptcy if funding from the Scottish government is not improved, council leaders have said. Cosla issued the warning in a briefing paper ahead of the Scottish budget on 19 December. The local government body said councils need nearly 14.4bn in the budget just to “stand still”.…
The government has firmed up a plan to remove the bar on personal guarantors to transfer or dispose of their assets under the insolvency resolution process, according to an official source. This is despite the Supreme Court upholding the constitutionality of the moratorium.The move by the ministry of corporate affairs (MCA) is aimed at ensuring…
Ian Omar Chester, a former Gold Coast property development company director, has been charged with multiple criminal offences following an investigation conducted by the Australian Securities & Investments Commission (ASIC) into Southeast Queensland property development companies. Chester was charged with 15 counts of fraud, three counts of falsifying company books and records and two counts…
This year, a number of major retailers have declared bankruptcy. Rite Aid recently filed and Bed, Bath & Beyond, Tuesday Morning and Christmas Tree Shops wound up closing all their stores amid their bankruptcies. Well it seems like 2024 will see more companies following suit and experts have identified one that they think will very…