The promoter and managing director of SpiceJet (SG, Delhi International) has agreed to inject INR5 billion Indian rupees (USD61 million) into the under-pressure airline to strengthen its financial position and maximise growth opportunities. Ajay Singh’s equity contribution will also assist the airline in accessing a further INR2.06 billion (USD25.1 million) via the Indian government’s Emergency…
DetailsThe Florida insurance industry is in a state of crisis. Over the past year and a half, 15 Florida insurers placed moratoriums on writing new business in most counties and seven were declared insolvent. Then, earlier this week, Farmers Insurance notified policy holders that the company is pulling out of Florida altogether. It appears the…
DetailsAwkwafina and Sandra Oh play estranged-sisters-turned-game-show-champion-hopefuls in EW’s exclusive first look at Quiz Lady, an upcoming comedy from Billions and This is Us director Jessica Yu. Set to premiere Nov. 3 on Hulu, the film from writer Jen D’Angelo (Hocus Pocus 2, Workaholics) follows Anne (Awkwafina), a brilliant but tightly wound game show obsessee, and…
DetailsA parliamentary committee has delivered a damning review of Australias insolvency system, calling for an independent and comprehensive review that addresses the system as a whole. The Parliamentary Joint Committee on Corporations and Financial Services released its report this week, Corporate Insolvency in Australia, saying the system is overly complex, difficult to assess and creates unnecessary…
DetailsIn the latest in a string of legal actions relating to the crypto industry in recent weeks, Alex Mashinsky, the co-founder and former CEO of the now-bankrupt cryptocurrency lending platform Celsius, was taken into custody on Thursday, Bloomberg reported. The development follows an extensive investigation into the companys abrupt downfall, according to a source familiar…
Details(REUTERS) The former chief executive officer of bankrupt crypto lender Celsius Network Ltd. was arrested and charged with fraud by US authorities following a probe into the companys collapse. Mashinsky was charged with fraud and attempting to manipulate crypto currencies in federal court in New York Thursday. The Securities and Exchange Commission and the Commodity…
DetailsLocal governments around the country are using Covid relief funds to eliminate medical debt for their communities. And thats great: medical debt is a huge problem. Its bad for hospitals and patients alike, and its the leading cause of bankruptcy for families in the United States. But using Covid funds to pay off existing medical…
DetailsThis article is authored by Joanne Wright with contributions from Tim Cooper, Partner, and Rebecca OCallaghan, Legal Director at Addleshaw Goddard. Introduction Once upon a time, the European courts were a maze for the intrepid UK cross-border recovery specialists to navigate, tracing assets of UK-based debtors into foreign lands. Then the UK agreed that it…
DetailsSAN DIEGO, July 13, 2023–(BUSINESS WIRE)–Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada”), a problem-solving innovator that takes on complex, multi-disciplinary global challenges in clean energy innovation, precision manufacturing, and advanced technology, announced today that it will be continuing its restructuring efforts to reduce overall expenses by approximately $3 million annually, through streamlined operations and well-defined leadership…
DetailsSource: Adobe/Canva The former CEO of bankrupt crypto lender Celsius Network Ltd., Alex Mashinsky, has been charged with fraud by the U.S. Department of Justice (DoJ) and sued by three regulatory agencies over the company’s collapse. Apart from the DoJ, Celsius and Mashinsky are also facing a barrage of lawsuits and allegations from various U.S.…
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