insolvency – Business Insider Australia

Markets Mar. 3, 2021, 12:51 PM

SoftBank-backed Greensill Capital is preparing to file for insolvency after losing a $4.6 billion contract, report says

Greensill's German banking subsidiary is now under direct oversight of the country's financial watchdog, BaFin.

Markets Jul. 1, 2020, 5:30 AM

US companies tumble into bankruptcy at fastest pace since 2013 under coronavirus stress

US companies are filing for Chapter 11 bankruptcy at the fastest pace since 2013, the Financial Times reported Tuesday. Year-to-date filings reached 3,427 on June 24, bringing the metric close to the 3,491 filings made in the first half of 2008. The wave of bankruptcies was largely driven by the […]

Markets Jun. 28, 2020, 8:11 PM

Wirecard is ‘beyond salvageable,’ according to one analyst, who says the company’s rivals won’t be able to benefit from its downfall

Munich-based Wirecard, founded in 1999, was established with the intention of assisting websites with credit card payment collections from customers. In the past week, the company has witnessed a spectacular fall from grace amid a massive accounting scandal, its former CEO’s arrest, and an insolvency filing. But can fintech rivals […]

Markets Jun. 25, 2020, 7:19 PM

Wirecard has filed for insolvency after a devastating scandal that saw $2 billion go missing and its ex-CEO get arrested

Wirecard, a once-valuable German fintech firm, filed for insolvency on Thursday as it battles a huge accounting scandal. More than $US2 billion went missing from the company’s balance sheet according to auditors, and Wirecard later admitted the money may never have existed. In a statement Thursday, Wirecard said it filed […]