Company insolvencies in England and Wales have hit the highest level since 2009 as businesses carrying pandemic debts faced a perfect storm of rising interest rates, higher costs and a slowing economy. Registered company insolvencies increased by 13 per cent year-on-year to 6,342 in the three months to June 30, according to the Insolvency Service.…
Former Wajir Governor Mohamed Mohamoud has been declared bankrupt due to his failure to settle a Ksh7.6 million debt owed to a construction company. Despite a court order issued in January 2020, both Mohamed Mohamoud and his wife, Kheira Maalim, failed to pay the outstanding debt, leading the construction company to file a bankruptcy petition…
Former Wajir Governor Mohamed Abdi Mohamoud has been declared bankrupt by the High Court after he failed to pay a debt of Sh7,621,724.91 to a construction company that supplied him with building materials. Justice David Manjanja of the High Court in Nairobi declared Mr Abdi and his wife Kheira Maalim Mohamud bankrupt on July 21…
There’s a storm brewing in the property insurance market, and companies and consumers alike are starting to feel it. BlackRock CEO Larry Fink told FOX Business last month that not enough attention is being paid to the fact that major insurance companies are fleeing California and Florida because they cannot raise rates high enough to…
More than 20,000 New Yorkers who lost their retirement savings will get help from the American Rescue Plan, according to the union’s president. Frank DeRiso, president of United Food Commercial Workers Union Local 1, told Spectrum News 1 that special financial assistance from American Rescue Plan money is going to make the shortfalls right. Members…
Former Wajir County Governor Mohamed Abdi Mohamud. [File, Standard] High Court in Nairobi has found former Wajir Governor Mohamed Mohamud and his wife Kheira Maalim bankrupt for failing to pay Sh 4.1 million debt owed to a tiles company. High Court judge David Majanja found that Mohamud and Kheira were unable to pay their dues…
The lender added that if the bankruptcy plan is approved, it will focus its efforts on recovering money from other firms, some of which have also declared bankruptcy and are in the process of restructuring. This includes Alameda Research, FTX, Three Arrows Capital, Emergent, Marex, and Core Scientific. Read the full article at: https://www.coindesk.com/business/2023/08/03/blockfis-disclosure-statement-gets-court-approval/
Micromobility.com, home of Helbiz, has submitted a non-binding bid to acquire VanMoof, following news that the Dutch e-bike brand was declared bankrupt last month. Beginning with shared e-scooters in Italy in 2018, today micromobility.com offers e-scooters, e-bikes and e-mopeds on short-term and long-term rentals as well as retail sales. The company said its bid demonstrates, the company’s strong…
In the span of 20 years of his boxing career, Mike Tyson has generated a massive wealth of an estimated $400 million. Well, he gradually lost everything, and in 2003, he declared bankruptcy with a $23 million debt. By 2018, Tysons resilience helped him overcome this rough patch and brought his net worth to a…
ASIC has launched civil action against a Melbourne businessman who reportedly left more than 130 investors chasing millions of dollars in unpaid loans and interest from collapsed companies linked to him. The corporate watchdog said it was taking the action against Sasha Hopkins and his company, The A Team Property Group, for alleged unlicensed conduct…