Date published: June 29 2020 Great news from McLaren with Zak Brown saying their financial problems have been solved with an announcement coming before the week is out. Earlier this month reports emerged claiming that McLaren was looking to sell a minority stake in its Formula 1 team to raise much needed capital. Days later…
DetailsLakshmi Mittal Aurelien Meunier / Getty Images The higher you climb, the further you have to fall, as the saying goes. Pramod Mittal, the 64-year-old brother of Lakshmi Mittal, the head of Arcelor Mittal steel, and 19th richest man in the UK, has been declared bankrupt with debts of 130 million, according to reports in…
DetailsIconic Australian bikini brand Seafolly has gone into administration, citing the crippling financial toll COVID-19 has taken on the retail sector. The women’s beachwear fashion brand has been operating since 1975 and boasts 44 stores in Australia and 12 stores overseas. At one point it was largely considered to be the most well-known swimwear brand…
DetailsWabinas lawyers Ong Yu Shin and Soon Ley Theng outside the courtroom at the High Court in George Town today. GEORGE TOWN: The High Court here today allowed a judicial review of a ministers order on the federal gazette allowing companies to repay their debts in six months instead of 21 days during the movement…
DetailsCouncil raises issue of NPL surge at SFIs Relief packages seen skewing real figures Visitors peruse housing loans at the GH Bank booth at Money Expo 2019.(Photo by Patipat Janthong) Chatchai Sirilai, chairman of the Government Financial Institutions Council, has flagged concerns about spikes in bad loans among specialised financial institutions (SFIs) after their debt…
DetailsEleanor Temple, chair of R3 in Yorkshire Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, comments on Fridays publication of the Governments monthly corporate and individual insolvency statistics for May: Todays figures show corporate insolvency numbers declined between April and May of this…
DetailsBUSBY Contracting’s liquidation is set to be wound up by the end of this year as its debts have blown out to almost $5 million. The company, which went into voluntary liquidation in February 2018, claims the liquidation was a result of under-quoting liquidation of associated major debtors and flooding of its project sites. It…
DetailsPavement has filed for voluntary administration, citing 2020 as a year of difficulties for many retailers. The childrens clothing retailer has appointed Pitcher Partners, Andrew Yeo and Gess Rambaldi as administrators. We get customers who are totally obsessed with the brand, who send their mothers and grandmothers in with the instruction that they can buy…
DetailsA scion of one of Britains richest families who spent 50 million on his daughters wedding has been declared bankrupt with debts of more than 130 million, The Times can reveal. Pramod Mittal, 64, appears to have lost a fortune while becoming embroiled in an investigation into organised crime. His familys mansion in Mayfair, central…
DetailsA scion of one of Britains richest families who spent 50 million on his daughters wedding has been declared bankrupt with debts of more than 130 million, The Times can reveal. Pramod Mittal, 64, appears to have lost a fortune while becoming embroiled in an investigation into organised crime. His familys mansion in Mayfair, central…
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