Croydon Council has declared bankruptcy for the third time in two years. Photo by Dan Kitwood/Getty Images. This article was originally published on 19 December. It has been republished following the news today (29 November 2023) that Nottingham council has issued a Section 114 notice, effectively declaring itself bankrupt. Today Nottingham City Council declared bankruptcy,…
DetailsNEW YORK, Nov. 29, 2023 (GLOBE NEWSWIRE) — Epiq has been named a winner of the M&A Advisor Consumer Discretionary Deal of The Year Award (over $100MM) and was recognized for setting an extremely high standard of dealmaking. The award honors Epiq Corporate Restructuring Group and its role in the $1.59 billion restructuring of Serta…
DetailsMember Article Christmas Trading Concerns After Sharp Month-On-Month Increase In Corporate Insolvencies Its impossible to say whether the Christmas trading period will provide a badly needed boost for struggling North East firms or whether itll be the final blow for their finances. Thats the view of the North East chair of insolvency and restructuring trade…
DetailsIn a landmark judgment on November 9, the Supreme Court disposed of a batch of 384 petitions (Dilip B Jiwrajka vs Union of India & Others), affirming the constitutionality of provisions in the Insolvency and Bankruptcy Code (IBC) related to the insolvency resolution of personal guarantors to corporate debtors (PGCDs). This decision should expedite the…
DetailsSelfridges 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 gave up…
DetailsIn a recent episode of “The Rich Dad Radio Show,” financial educator and author Robert Kiyosaki expressed grave concerns about the United States financial health. “America is now bankrupt,” he said. “And the question I want to answer today is how [come] America, at one time reportedly the richest country in the world, is now…
DetailsAntonioguillem | Istock | Getty Images It has been a frustrating and confusing time for many student loan borrowers. President Joe Biden promised millions of Americans up to $20,000 in debt forgiveness, but then the Supreme Court blocked the program, and the relief never came. As payments restarted in October after a three-year break, borrowers…
DetailsDefunct buy now pay later business Openpay was put into voluntary liquidation late last week after attempts to sell or recapitalise the business failed. Openpay collapsed into receivership in February this year owing more than $66.1 million to creditors, $4.1 million in unpaid leave and wages to employees, and with just $1.2 million left as…
DetailsDefunct buy now pay later business Openpay was put into voluntary liquidation late last week after attempts to sell or recapitalise the business failed. Openpay collapsed into receivership in February this year owing more than $66.1 million to creditors, $4.1 million in unpaid leave and wages to employees, and with just $1.2 million left as…
DetailsStreet Talk Nov 29, 2023 6.51pm Slide decks filled with bikini bods and colourful sarongs are back in the hands of interested buyers as a lengthy pitch for iconic swimwear brand Tigerlily hits inboxes just in time for summer. Deloitte was appointed to sell the business by private equity owner Crescent Capital in October, three…
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