#financial-distress

#financial-distress

The nine-story Pasadena Office Tower reappraised at $23 million, a 59% decrease from its appraisal a decade ago, indicating severe financial distress linked to tenant flight and refinancing needs.

Judge John O'Connor has informed the board of directors that the company has sought the appointment of an examiner. The company, Prime Steak Restaurant trading as Fade Street Social, owes Revenue €1.7 million 'and maybe more' and is unable to pay its debts. Dessie Morrow of Azets Ireland has been appointed as examiner for the company's affairs and will provide a special report to Revenue regarding inter-company loans totaling almost €4.5 million.

Londoners owe 1.4 billion in unpaid council tax, an increase of 11% in just one year, emphasizing the severe impact of the ongoing cost-of-living crisis.

Vodafone's decision to terminate contracts with 12 franchisees escalates a £120 million lawsuit claiming mistreatment, including commission cuts and punitive fines.

State Farm can increase homeowner and renter insurance rates due to necessary fund stabilization as it faces over $7 billion in claims from fires.

Janet Engler, an 81-year-old veteran, struggled with a $12,000 water bill, believing it was due to a meter fault; ultimately, she was forced to sell her home.

Ebusco's ability to continue operations is at risk due to overdue payables exceeding liquidity and reliance on third-party agreements for payment schedules.

Ministers have announced an overhaul of the way carer's allowance overpayments are checked, aiming to fix a flawed system that has left many in severe debt.