It finally happened. After years of speculation, handwringing, and infusions of capital, coworking pioneer WeWork has entered bankruptcy, the culmination of one of the biggest destructions of value in real estate history. The question now is: what’s next? For WeWork itself, the bankruptcy process is likely to be messy and complicated it will look to shed unprofitable locations…
A 31-part Twitter thread by Genesis creditor Vijay Boyapati alleges Digital Currency Group (DCG) and its CEO Barry Silbert perpetrated fraud to hide massive Genesis losses stemming from Three Arrows Capitals (3AC) implosion. Boyapati argues DCG provided a bogus $1.1 billion promissory note to paper over Genesis insolvency, misleading creditors and buying time. The scheme…
The High Court has approved a Personal Insolvency Arrangement that allows a company director to write off over 3 million of debt owed to financial institutions for a payment of just over 8,000. Mr Justice Alexander Owens approved the PIA in respect of 60-year-old Patrick Reilly, who under the terms of the agreement will put…
A Fresno and Reedley-based fruit grower and packer is objecting to a motion filed by debtors to bankrupt Prima Wawona to approve the sale of the companys assets. Trinity Fruit Company argued that the motion is preventing it from receiving payment for perishable products that it provided. The backstory: Prima Wawona, the nations largest peach…
Getty Images By Sophie Madden & Rebecca Woods BBC News, West Midlands After Birmingham City Council declared it was effectively bankrupt, the city battled against bad press and an uncertain financial outlook. But with figures showing the city’s tourism and economy continues to boom, the BBC spoke to Brummies – and adopted Brummies – about…
McGill and Partners, the global boutique specialist (re)insurance broker, has launched a ready-made and self-contained coverage solution for corporate insolvency, known as SAIFElimits. This innovative offering is designed to seamlessly integrate into primary directors and officers (D&O) policies, automatically triggering coverage upon the occurrence of an insolvency event. SAIFElimits is specifically engineered to address the…
Bankrupt cryptocurrency exchange FTX has expressed readiness to sell $744 million worth of its Trust assets held at Grayscale and Bitwise, according to a Nov. 3 court filing. The Trust assets consist of various exchange-traded products managed by Grayscale, including its Bitcoin and Ethereum Trusts and Bitwises 10 Crypto index fund. The filing shows that…
SINGAPORE: Persistently high interest rates are putting stress on corporate balance sheets and leaving increasing numbers of firms here and across the region at risk of bankruptcy, according to a new report and experts. The report noted that high interest rates have created an unfavourable borrowing environment, operational challenges and dented consumer spending. These have…
KATIE Price has revealed she’ll star in another panto this Christmas – but it’s not a typical family friendly one. It was previously revealed the former glamour model will appear in the M&S Bank Arena’s production of Sleeping Beauty in Liverpool for the festive period. Katie revealed she’s set to star in a racy adults…
Statistics on new company insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland Get emails about this page Documents Commentary – Company Insolvency Statistics July to September 2023 HTML Infographic – Company Insolvency Statistics July to September 2023 PDF, 367 KB, 1 page This file may not be suitable for users…