Latest News for: Insolvent bank


Money always mattered

Business Line 14 Aug 2022
... company, which had extensive banking operations, had ceased business.

This Week in Coins: Ethereum and Avalanche Rally, Crypto Winter Still Not Over

Decrypt 13 Aug 2022
On Tuesday, German crypto bank Nuri filed for insolvency, saying the move was “necessary to ensure the safest path forward for all our customers.” Despite the proceedings, Nuri said that customers still have “guaranteed access” to their euro accounts and crypto wallets.

Bankruptcies skyrocket in Canada amid soaring inflation, interest rate hikes

Life Site 12 Aug 2022
(LifeSiteNews) — Amid decades-high inflation and repeated interest rate hikes, the Office of the Superintendent of Bankruptcy Canada’s latest report shows an 11 percent increase in insolvencies among Canadians compared with this time last year ... and ends up “in insolvency.”.

Tennessee Department Of Health Determines Ballad Health Compliant With Requirements In Annual Report

The Greeneville Sun 12 Aug 2022
According to a press release from Ballad Health, prior to the merger that occurred in 2018, one hospital in the region had closed, and several were facing financial insolvency. In Greeneville, one previously independent hospital’s debt was called by the bank, while the other ...

Peter Schiff’s Bank Set To Be Liquidated; Will He Finally Turn To Bitcoin (BTC)?

CoinGape 11 Aug 2022
Peter Schiff, one of the world’s most dedicated critics of crypto and Bitcoin is experiencing prolonged challenges with his bank. In a recent highlight of events, the American economist’s bank is set to be liquidated ... Amidst the probe launched, Puerto Rican authorities noted that the bank was insolvent.


This Day 11 Aug 2022
Of course, the BPE claimed that the takeover of the five distribution companies was over an alleged poor financial performance by the operators – a claim that must have come to many as a surprise as few could recall any claims of insolvency either being made against the entities in the public space let alone an established one.

SBI drags Simbhaoli Sugars to bankruptcy over Rs 395 cr loan

The Times of India 11 Aug 2022
State Bank of India. (SBI. ) has dragged Simbhaoli Sugars ... It also exports its products to the Middle East, Southeast Asia and Africa ... Simbhaoli Sugars had informed stock exchanges on Friday that a case had been filed by State Bank of India at NCLT under the insolvency code ... .

Jet Airways Q1 update: Net loss at ₹390.1 cr, revenue down 83% | Mint

Live Mint 11 Aug 2022
Premium This banking stock enjoys 98% 'Buy' ratings, highest am ... Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, led by the State Bank of India (SBI), filed an insolvency petition in June 2019 to recover outstanding dues worth over ₹8,000 crore ... .

Another One Bites The Dust: German Crypto Bank Nuri Files For Insolvenzrecht

Bitcoinist 10 Aug 2022
Nuri Files For Insolvency ... The cryptocurrency bank highlighted that the insolvency will not affect its services, customer cash, investments, or customers’ ability to withdraw their assets from the platform, but claimed that the action will “ensure the safest path forward” for all of its clients ... The crypto bank said,.

500K user German crypto bank ‘Nuri’ files for bankruptcy

Financial Express 10 Aug 2022
German startup crypto bank Nuri, which has 500,000 users, filed for insolvency on Tuesday, citing significant crypto sell-offs and earlier this year’s insolvency of Celsius and other crypto funds as justification, as reported by Cointelegraph. The cryptocurrency bank ...

New fraud allegations against Srei | Mint

Live Mint 10 Aug 2022
Ltd (DHFL) case, the first non-bank financier to be referred to the insolvency tribunal, and later acquired by Piramal Group, the administrator had filed a case of fraud worth ₹12,705 crore in September 2020 and another ₹6,182 crore in February 2021, VCCircle had reported.

New York investment firm, 2 others submit bids for Srei group firms

Financial Express 10 Aug 2022
At least three bids have been received for the Srei group companies currently under the insolvency resolution process ... Insolvency proceedings against SIFL and its subsidiary SEFL, the two NBFCs, commenced on October 2021 after the insolvency petitions, filed by the Reserve Bank of India, had been approved by the Kolkata bench of the NCLT.

Germany-based Nuri files for insolvency, CoinFlex kicks off restructuring process

Cryptoslate 10 Aug 2022
Unfavorable market conditions have forced German-based crypto bank Nuri to file for insolvency. Nuri announced on August 9 that it has become insolvent due to financial struggles due to the crypto winter and its exposure to the Luna and Celsius collapse.

German Crypto Bank Nuri Files for Insolvency, Says ‘All Funds Are Safe’

Decrypt 10 Aug 2022
Nuri, a crypto-focused digital banking platform, announced it has filed for insolvency in a Berlin court on Tuesday, saying the move was “necessary to ensure the safest path ...

German Crypto Bank Nuri Files for Insolvency Citing Market Conditions

NDTV 10 Aug 2022
Nuri, a German startup crypto bank, yesterday evening announced that it had filed for insolvency after what it calls a "lasting strain" on its business liquidity due to "significant... .

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