The number of firms going bankrupt in Scotland grew by a third last year Company bankruptcies in Scotland rose by a third in the past financial year, as debts from during the pandemic contributed to 1,132 firms going under. Trade association R3, which represents insolvency accountants, said a further wave was almost inevitable, even though…
DetailsVice Media is set to cancel its acclaimed program Vice News Tonight and undertake a sweeping restructuring that will have painful consequences for staff across the organization. According to reports, dozens of employees are set to lose their jobs, with the Washington, D.C. bureau reportedly being hit particularly hard. In a memo to staff, Vice…
DetailsBit4You is Belgiums first and only crypto asset lending platform. The platform says one of its main crypto asset custodian, CoinLOan, had been declared insolvent. The insolvency court order against CoinLoan was reportedly issued on Monday, 24 April, 2023 in Estonia. In cryptocurrency news today, Bit4You, the first Belgium-based cryptocurrency lending platform,has announced its suspending…
DetailsHigh-profile heir Grant Bennett left a spate of bad business deals in his wake when he was declared bankrupt in 2015, but he seems to have bounced back nicely with a new $7.35 million Dalkeith mansion. Bennett, son of billionaire Angela Bennett and grandson of Lang Hancocks late iron ore exploration partner Peter Wright, has…
DetailsHONG KONG, April 27 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) said on Thursday it would extend the deadline for receiving an incentive for its debt restructuring proposal to May 18 as the company disclosed levels of support from offshore debt-holders for its proposal. Evergrande said that 77% holders of class-A debts and…
DetailsBy Marine Strauss BRUSSELS, April 27 (Reuters) – The first and only Belgian cryptocurrency lending platform,Bit4You, said it was suspending its activities after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court. CoinLoan, a crypto lending companybased in the Baltic state, also no longer has the required registration as a…
DetailsBRUSSELS, April 27 (Reuters) – The first and only Belgian cryptocurrency lending platform, Bit4You, said it was suspending its activities after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court. CoinLoan, a crypto lending company based in the Baltic state, also no longer has the required registration as a custodian…
DetailsApr 27, 2023 10.30pm New laws will be introduced to ban the use of credit cards with online bookmakers such as Sportsbet and Ladbrokes, closing a decades-old loophole in the countrys gambling regulation. The federal government will bring forward legislation later this year that bans online bookmakers from accepting credit cards.
DetailsDistressed US companies are increasingly resorting to debt restructurings to avoid expensive bankruptcy proceedings, but many borrowers ultimately end up in court anyway with their deals amounting to little more than can-kicking exercises. Almost three-quarters of US corporate debt defaults last year were out-of-court distressed exchanges, where a company offers creditors assets worth less than…
DetailsHONG KONG, April 27 (Reuters) – China Evergrande Group (3333.HK) will get a signal on Thursday of the level of creditor backing for its offshore debt restructuring proposal, with investors to be given an incentive for early support. While some major creditors have already agreed to support the restructuring proposal, others are eager to cut…
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