Bankruptcy

Joe Biden Promoted EV Startup Fisker Files For Bankruptcy 1

Joe Biden Promoted EV Startup Fisker Files For Bankruptcy

Joe Biden-backed EV startup Fisker filed for bankruptcy late Monday, planning asset sale amid manufacturing halt. Henrik Fisker, former Aston Martin and BMW designer, founded the company, which has filed for bankruptcy twice. Fisker, an electric vehicle startup, filed for bankruptcy late on Monday, announcing plans to sell its assets

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China’s Evergrande Files For Bankruptcy

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

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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

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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

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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. What follows are companies (excluding ones from China) that

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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

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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

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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

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