Normal text sizeLarger text sizeVery large text size An undischarged bankrupt was instrumental in landing his insolvency firm the lucrative rights to be administrator of fugitive Jean Nassifs failed property empire, which has collapsed owing more than $1.24 billion, including $88.5 million to suppliers and tradespeople. The scale of the collapse of Nassifs Toplace group…
A court has ordered a building company to go into liquidation after it failed to pay back its debts. On Wednesday morning, the Victorian Supreme Court placed Joestarr Homes Pty Ltd into liquidation after failing to pay an excavation contractor $73,000, with the unpaid invoices dating back as far as May 2021. Judicial registrar Kim…
The rebooted exchange would be available only to offshore customers. FTXs advisors suggested giving no recovery on account of FTT tokens due to their equity-like characteristics. We could see a potential reboot of the bankrupt crypto exchange FTX under a newly proposed plan. FTXs bankruptcy administrators submitted a reorganization plan on 31 July that proposes…
Late Nitin Desai Defaulted On Rs 252 Crore Loan; Insolvency Proceedings Begun Last Week NationLate Nitin Desai Defaulted On Rs 252 Crore Loan; Insolvency Proceedings Begun Last Week ADVERTISEMENT 02 Aug 2023, 1:49 PM IST 02 Aug 2023, 1:49 PM IST 02 Aug 2023, 1:49 PM IST WhatsApp Twitter Facebook Telegram Read the full article…
MUMBAI: Noted art director Nitin Chandrakant Desai, the man who brought to life celluloid dreams in ‘Jodhaa Akbar’ and ‘Devdas‘ with his opulent set design, was facing financial stress which may have led to him taking a drastic step.News agency PTI has reported that the 58-year-old who was found dead at his Raigad studio was…
Businesses are proving to be much more resilient than was expected – up to this point at least. Thats according to Stephen Scott, head of Restructuring & Recovery Services at Evelyn Partners. Many of the reasons for this are well versed, says Scott, with factors that stopped a wave of post-Covid insolvencies still being relevant.…
Some businesses across the nation may need to close. One in four personal insolvencies recorded in June were business-related, according to provisional government data, as officials and bankruptcy professionals alike prepare for insolvencies to rise over the next year. The Australian Financial Security Authority (AFSA) released its latest data snapshot on Monday, detailing how personal…
After purchasing a bankrupt Bed Bath and Beyond last month, Overstock also known as Overstock.Com has officially relaunched the Bed Bath and Beyond website, rebranding it as a bigger, better beyond. Earlier this year, Bed Bath and Beyond filed for bankruptcy and planned to wind down its in-person operations over the course of the following…
PARIS, July 31 (Reuters) – Nasdaq-listed Micromobility.com (MCOM.O) said on Monday it had submitted a non-binding bid to acquire bankrupt Dutch electric bike maker VanMoof Amsterdam for an undisclosed sum. Its initial non-binding bid was positively received and the company is now preparing to present its binding offer, it said in a statement. No financial…
Eleanor Temple, chair of the UKs insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds There were 6,342 seasonally adjusted corporate insolvencies in Q2 2023 a 8.9% rise compared to Q1 2023s total of 5,824. o Corporate insolvency levels for Q2 2023 were 13.1% higher than Q2 2022s…