Sri Lanka’s President, Ranil Wickremesinghe, has announced his proposal for a loan repayment pause until 2028, aiming to address the country’s debt crisis. The plan involves deferring payments for five years and then gradually repaying debts from 2028 to 2042. Sri Lanka
Council revenues surge raises mismanagement concerns amid bankruptcy fears (Image: Getty) Council revenues have rocketed in the past decade, new data shows. Takings from airports, harbours, toll facilities, have more than tripled since 2011. Revenue generated from waste collection, recycling, on-street parking
A Labour-led council is on the verge of bankruptcy thanks to a multi-million-pound budget gap. Nottingham City Council reported a £26 million gap in its finances in July this year, with its finance chief warning “difficult decisions” lay ahead. Now, Nottinghamshire Live
A third of councils in some of England’s poorest areas are considering declaring effective bankruptcy this year or next, it has emerged. A survey of 47 local authorities in the North, the Midlands and on the South Coast revealed the severe strain
The global economy has been put on the brink of disaster after the Chinese property giant Evergrande Group filed for bankruptcy in New York on Thursday. The company posted an $80bn loss across the past 24 months and has more than £230bn ($300bn)
Vice Media Group has filed for bankruptcy protection as the company hopes for a sale to a group of lenders. The group, which publishes content on its popular websites such as Vice and Motherboard, said that a lender consortium will provide a
Virgin Orbit has filed for bankruptcy protection in the States after failing to get the funding needed to recover from a January rocket failure. Its bid for Chapter 11 bankruptcy protection comes less than a week after the California-based satellite launch company
Almost five years after filing for Chapter 11 bankruptcy, former NASCAR Cup Series car owner Ron Devine has been ordered to pay $31 million after proceedings. Associated companies and trusts will also have to pay the bank that issued loans, the IRS,