China’s Evergrande Files For Bankruptcy
China’s Evergrande Group, previously the second-largest property developer in the country, declared bankruptcy in New York on Thursday. The company faced significant financial troubles and defaulted on its debt in 2021. This triggered a major property crisis in China’s economy, the effects of which persist today. Evergrande sought Chapter 15 bankruptcy protection, allowing a US […]
There Are 70 Major Bankruptcies In Just 4 Months This Year
According to data collected by Bloomberg, there were 70 major bankruptcies in just 4 months this year, surpassed only by the years 2009 and 2020. For 2009 there were 118 bankruptcies through April. In Covid-impacted 2020, there were 71 bankruptcies. In 2023 there have been 70. This is the third worst start to the year […]
Wuhan City Is Bankrupt
According to a statement published by the official Changjiang Daily newspaper on Friday, Wuhan City’s finance bureau announced that a total of 259 companies owed it more than 100 million yuan ($14 million) combined, leading it to declare bankruptcy. Wuhan, the largest city in central China, has publicly demanded that hundreds of local companies repay […]
US Corporations Are Filing For Bankruptcy At The Fastest Pace Since 2010
According to figures compiled by bankruptcydata.com, US corporations are filing for bankruptcy at the fastest pace since 2010. As per the data, twenty-seven large debtors have filed for bankruptcy. One would not know it from looking at the S&P which just hit a 2023 high, but there is a bit of a bankruptcy crisis sweeping […]
Biggest Startup Bankruptcies Of All Time
According to data provided by PitchBook, here is a list of the biggest startup bankruptcies of all time. Vice Media has filed for bankruptcy, despite having raised over $1.6 billion from venture capitalists. The big picture: Vice now joins an ignominious club of well-funded flameouts. Intarcia FTX Douglas Boneparth, a 38-year-old financial adviser from New York, stated that the […]
What Happens When The United States Goes Bankrupt
When the United States goes bankrupt, one consequence would be the loss of the US dollar as the global reserve currency, leading to the return of dollars held in many national reserve banks back to the US. The current known federal debt is $31.7 trillion according to the web site, US Debt Clock, which is about […]
Go First Files For Bankruptcy, Blames US Engine Maker
“Go First” has filed for bankruptcy with the National Company Law Tribunal in Delhi. Billionaire Nusli Wadia is blaming US engine maker Pratt & Whitney for the situation. Go Airlines, founded by billionaire Nusli Wadia, filed for bankruptcy on Tuesday with the low-cost carrier blaming US engine-maker Pratt & Whitney for grounding half of its […]
Vice Media Preparing To File For Bankruptcy
According to reports, Vice Media is preparing to file for bankruptcy after struggling to find a buyer. Vice Media Group, the swashbuckling, youth-skewing digital media brand, is preparing to file for bankruptcy. The company, which was valued at $5.7 billion in 2017, is considering the move after struggling to find a buyer, according to reports. It […]