John Byrialsen’s Danish brood farm and former stallion station Viegaard Stutteri has been declared bankrupt. An executorial sale of the horse stock and buildings will follow. Danish Horror Farm The bankruptcy follows in the wake of a major police raid, which led to digging up the cadavers of 50 horses. The raid in August was the…
Reuters. The Supertech ORB project, managed by the indebted Supertech group, has been admitted into the Corporate Insolvency Resolution Process (CIRP) by the Prayagraj National Company Law Tribunal (NCLT). This decision follows a plea from Assets Care and Reconstruction Enterprises Limited (ACRE) regarding a defaulted debt repayment of Rs. 482 crore, including both principal and…
Russias battle against Western technology giants continues, with the news that Googles Russian subsidiary has been declared bankrupt. Reuters cited the RIA news agency as reporting the development on Wednesday, with a Moscow court making the bankruptcy ruling after more than a year of proceedings. In May 2022 Russian bailiffs had seized 7.7bn roubles from…
Vital Metals, Canadas only rare earths producer, declared bankruptcy at its Canadian subsidiary following a review of its semi-finished processing plant in Saskatoon, which worth $55 million. The company suspended construction of the Saskatoon plant in April, citing rising plant costs and falling rare earth prices that reduced the viability of refining ore at the…
SMSF members facing bankruptcy have the potential to seek permission from the Federal Court to retain their roles as directors of an SMSF corporate trustee, provided the funds administration remains in good standing, according to an SMSF legal expert. Traditionally with bankruptcy there was really only two choices: if the member of an SMSF went…
If a business experiences financial difficulty and becomes insolvent, the appointed officeholder scrutinises the companys financial affairs to identify whether antecedent transactions have been made. These are transactions conducted before, or at the time of insolvency, and are typically associated with fraudulent activity or attempts to avoid repaying the companys creditors the monies they are…
New Delhi: Bankruptcy filings by stressed firms themselves have seen faster resolutions than those initiated by financial or operational creditors, but the recovery in such cases has been below par, according to data compiled by the insolvency regulator.Empower Your Corporate Journey with Strategic Skill Courses Offering College Course Website Indian School of Business ISB Leadership…
BALTIMORE–(BUSINESS WIRE)–Oct 18, 2023– Allianz Trade released today its latest Global Insolvency Report which unveils updated forecasts for 2023 and 2024. According to the worlds leading trade credit insurer, after a small rebound in 2022 (+1%), global insolvencies are set to jump by +6% in 2023 and +10% in 2024. Waning cash buffers and worsening…
Murunwa Makwarela has been reinstated as the City Of Tshwane mayor after he submitted his insolvency rehabilitation certificate to the city manager on Wednesday. Makwarela, who ascended to the mayorship last week on the ticket of the ANC and EFF collaboration efforts, was on Tuesday disqualified as a PR councillor due to insolvency. It was…