#insolvency

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FTX sues Binance and former CEO Zhao for $1.8 billion received as part of a "fraudulent" share deal

FTX's estate seeks to recoup $1.8 billion from Binance alleging fraudulent transfer related to a share buyback deal.
The lawsuit claims FTX and Alameda were insolvent at the time of the transactions.

Provisional insolvency proceedings for Quantron - Sustainable Bus

Quantron, a zero-emission vehicle manufacturer, is facing provisional insolvency as unpaid salaries create uncertainty for employees.
#social-security
from 24/7 Wall St.
1 week ago
Information security

Social Security Barely Covers 40% of Most People's Previous Income - Here's How to Cover the Rest

Social Security is expected to run out by 2033 due to demographic changes, increasing the need for personal financial planning.

How Trump could make Social Security's fiscal outlook gloomier

Trump's policies would hasten the Social Security trust fund depletion by three years, worsening financial outlook significantly.

Social Security Barely Covers 40% of Most People's Previous Income - Here's How to Cover the Rest

Social Security is expected to run out by 2033 due to demographic changes, increasing the need for personal financial planning.

How Trump could make Social Security's fiscal outlook gloomier

Trump's policies would hasten the Social Security trust fund depletion by three years, worsening financial outlook significantly.
moresocial-security
#lilium

Electric aircraft startup Lilium has run out of money | TechCrunch

Lilium aircraft startup is shutting down due to financial troubles and failure to raise emergency funds from the German government.

Lilium stock price plummets to penny territory as FAA green light for flying taxis can't save it from insolvency

Lilium's subsidiaries are expected to file for insolvency due to insufficient funds, causing a significant drop in share price.

Air taxi maker Lilium is out of money and will cease operations

Lilium has gone into insolvency due to failed funding efforts, halting air taxi production.
The competitive eVTOL market poses significant challenges for companies unable to secure financing.

Electric aircraft startup Lilium has run out of money | TechCrunch

Lilium aircraft startup is shutting down due to financial troubles and failure to raise emergency funds from the German government.

Lilium stock price plummets to penny territory as FAA green light for flying taxis can't save it from insolvency

Lilium's subsidiaries are expected to file for insolvency due to insufficient funds, causing a significant drop in share price.

Air taxi maker Lilium is out of money and will cease operations

Lilium has gone into insolvency due to failed funding efforts, halting air taxi production.
The competitive eVTOL market poses significant challenges for companies unable to secure financing.
morelilium
#uk-economy

Record number of UK businesses at risk of collapse ahead of critical autumn budget

UK businesses are experiencing unprecedented financial distress, highlighting economic fragility as the government prepares new budget proposals.

Surge in voluntary liquidations sparks abuse of process concerns

The sharp rise in creditors' voluntary liquidations in the UK is raising concerns about potential abuse and lack of scrutiny.

Half a million firms in significant' financial distress as UK's economy stagnates

More than 550,000 British firms face financial distress due to high interest rates, low consumer confidence, and pandemic-induced debt, potentially leading to insolvency.

Record number of UK businesses at risk of collapse ahead of critical autumn budget

UK businesses are experiencing unprecedented financial distress, highlighting economic fragility as the government prepares new budget proposals.

Surge in voluntary liquidations sparks abuse of process concerns

The sharp rise in creditors' voluntary liquidations in the UK is raising concerns about potential abuse and lack of scrutiny.

Half a million firms in significant' financial distress as UK's economy stagnates

More than 550,000 British firms face financial distress due to high interest rates, low consumer confidence, and pandemic-induced debt, potentially leading to insolvency.
moreuk-economy

Byju's founder says his edtech startup, once worth $22B, is now 'worth zero' | TechCrunch

Byju's founder acknowledges mistakes leading to the company's drastic decline in value.

A line in the sand moment': Premiership's troubles laid bare by report | Robert Kitson

Rugby must urgently address its financial instability, with seven Premiership clubs declared balance sheet insolvent and debts totaling £311 million.

Thousands of SMEs will not be able to meet the costs of new employment laws - London Business News | Londonlovesbusiness.com

New UK employment law plans threaten the survival of thousands of small businesses already struggling due to economic pressures.
Exempting small firms from changes to probationary periods could protect jobs and stimulate growth during economic recovery.
#harland-and-wolff

Titanic builder Harland and Wolff to enter administration

Harland and Wolff has entered administration for the second time in five years, resulting in significant job losses but operational continuity for shipyards.

Harland and Wolff parent company to enter administration

Harland and Wolff, a historic shipyard, is entering administration due to insolvency and plans to sell subsidiary shipyards to interested buyers.

Titanic builder Harland and Wolff to enter administration

Harland and Wolff has entered administration for the second time in five years, resulting in significant job losses but operational continuity for shipyards.

Harland and Wolff parent company to enter administration

Harland and Wolff, a historic shipyard, is entering administration due to insolvency and plans to sell subsidiary shipyards to interested buyers.
moreharland-and-wolff

Postmedia begins takeover of parts of SaltWire Network | CBC News

Postmedia is acquiring parts of the insolvent SaltWire Network, solidifying its presence in Atlantic Canada's newspaper landscape.

The Drum's Daily Briefing: Nestle targets Ozempic users & Cazoo crashes

Nestlé launches Vital Pursuit food brand for weight management consumers, TikTok lays off marketing employees, Cazoo faces insolvency challenges.

Luxury retailer Ted Baker begins store-closing liquidation sales | CBC News

Clothing retailers starting store-closing clearance sales.

SaltWire's money woes a sign of bigger problems in the newspaper business: experts | CBC News

The decline in local journalism is accelerating with closures and cutbacks of news operations.
SaltWire Network facing financial challenges, with a private equity firm initiating insolvency proceedings.

The seven south east London Body Shop stores at risk as chain enters administration

The future of seven south east London Body Shop stores is uncertain as the chain has gone into administration.
The administration process will only affect the UK business, and international franchises will not be impacted.

Four London pubs go up for sale - including the Ten Bells

Four pubs run by East London Pub Co. have been put up for sale due to cost-of-living pressures and work from home initiatives.
The London bar scene has struggled to return to pre-pandemic levels as the inflation of alcoholic drinks reached its highest level since the early 1990s.

Social Security Doesn't Make Sense Anymore

Congress approved temporary government funding and averted a shutdown.
Social Security is a lifeline for retirees, but the program is heading towards insolvency by 2033.
Ida May Fuller, the first person to receive Social Security benefits, received over 900 times her investment.

Company insolvencies fell in May - London Business News | Londonlovesbusiness.com

Insolvencies in England and Wales decreased by 6% from the previous month and are 21% lower compared to the same period last year.
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