Nottingham City Council has become the latest local authority to effectively declare bankruptcy as it is unable to fulfil its legal obligation to balance its budget. The state of the council’s spreadsheets has been blamed partly on mistakes of its own making – namely the collapse of an energy firm it launched back in 2020,…
DetailsTwelve months after REDcycle’s dramatic collapse, Australians are no closer to a national soft plastics recycling program, leading to calls for the federal government to crack down on the nation’s major supermarkets. Key points: REDcycle stopped collecting soft plastics last November and was declared insolvent in February 44 stockpiles of soft plastics have been reduced…
DetailsVIENNA/FRANKFURT, Nov 29 (Reuters) – Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe’s property crash. Controlled by Austrian magnate Rene Benko, the group is an owner of New York’s Chrysler Building as well as several high-profile projects…
DetailsNottingham City Council has declared itself effectively bankrupt, saying it cannot follow through on its legal requirement to balance this years budget. The local authority issued a section 114 notice on Wednesday, halting all new spending immediately excluding in the event of protecting vulnerable people and funding statutory services. The announcement follows reports of financial…
DetailsThe airline has moved a Delaware court to enforce the arbitration ruling, but has run short of funds to pursue the case after it stopped flying in May. The idea of litigation finance was suggested by Go Firsts resolution professional since all the current parameters are pointing towards liquidation” as the only alternative left, one…
DetailsLUXEMBOURG, Nov. 29, 2023 /CNW/ – Lorito Holdings S..r.l (“Lorito”), a private company controlled by trusts settled by the late Adolf H. Lundin, of 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announces that on November 28, 2023, it completed an internal corporate restructuring. As part of the restructuring, Lorito changed its name to Lorito Doraline S..r.l (“Lorito…
DetailsChances are that you can pay your debts off much faster than you are right now even on a low income. FRANCESCO CARTA/Getty Images Debt can be challenging, regardless of how much money you have. On the other hand, if you’re earning a relatively low income, that challenge can seem more like a debt trap…
DetailsContents1 Datalign Advisory1.1 Access to thousands of financial advisors.1.2 Match with a pre-screened financial advisor that is right for you.1.3 Connect with your match for a free, no-obligation call. You feel like youre drowning in debt. You dont know how to get out of the situation. All you know is that your mental health is…
Detailsselfridges london Selfridges shareholder Signa has filed for insolvency just weeks after the business was plunged into financial turmoil. Rene Benkos retail and property empire was toppled by a cash crunch on Wednesday after a Vienna court declared the business insolvent. The development will raise questions over Signas minority shareholding in Selfridges after it recently…
DetailsNottingham City Council has declared itself effectively bankrupt after issuing a section 114 notice. The Labour-run local authority confirmed the announcement on Wednesday, saying its chief financial officer had decided it “isn’t able to deliver a balanced budget for this year, which is a legal requirement”. As a result of the section 114 notice, all…
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