Bankruptcy

The latest lawsuit by new management alleges that transfers of corporate assets were made for the benefit of the co-founder and others. The latest lawsuit by new management alleges that transfers of corporate assets were made for the benefit of the co-founder and others. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to…

E-bike company VanMoof has declared bankruptcy for all its Dutch entities and aims to find a buyer in the "next few weeks." The announcement comes alongside the court of Amsterdam's withdrawal of suspension of payment proceedings and appointment of two trustees to oversee a possible third-party sale of the assets to ideally keep VanMoof functioning. The news came through a mass email to Dutch employees that was subsequently shared on Reddit. Bankruptcy proceedings have come to VanMoof less than two years after it claimed…

The final chapter in the VanMoof financial saga has been written this morning. The e-bike maker has officially filed for bankruptcy. The move was first reported by Thomas Ricker in The Verge, citing an internal email sent by VanMoof co-founders and brothers Taco and Ties Carlier informing company employees of the decision. The full text of the email is seen below. Only last week, VanMoof had entered into a court-administered “suspension of payment” that was meant to give the company time to…

FTX filed a lawsuit on Wednesday against former managers of a Swiss business the bankrupt cryptocurrency exchange had acquired, looking to claw back at least $323 million to repay creditors and customers.  The lawsuit filed in the U.S. Bankruptcy Court in Wilmington, Del., alleged FTX overpaid for Digital Assets DA AG, the Swiss company that later became FTX Europe following a series of transactions in 2020 and 2021, despite knowing it “had limited business and no intellectual property beyond a business plan.”…

After a rollercoaster of a financial year, once-darling e-bike company VanMoof appears to be unable to pay its bills. The major Dutch electric bike maker has just applied for and received a postponement of payment from a Dutch court and is temporarily closing its stores. The drastic step doesn’t indicate imminent bankruptcy but rather is a financial tool designed to help companies avoid ultimately needing to file for bankruptcy. The goal is that it would allow VanMoof more time to find 11th-hour…

Dutch ebike startup VanMoof has paused sales of its bikes and all accessories for almost two weeks now, stoking rumours that the business is in financial difficulty.  Since June 29, visitors to VanMoof’s website have been met with a pop-up explaining that the company has paused orders to catch up with current demand.  “We have temporarily paused sales to catch up on the production and delivery of existing orders. Rest assured – this has no effect on servicing,” says the notification. But,…

Bang filed for chapter 11 last year after paying Monster a large settlement. Bang filed for chapter 11 last year after paying Monster a large settlement. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish…

The failed crypto company is in initial discussions with investors about relaunching its international exchange. The failed crypto company is in initial discussions with investors about relaunching its international exchange. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their…

EV startup Lordstown Motors (RIDE) filed for bankruptcy on Tuesday. Lordstown is also suing Foxconn after the companies failed to find common ground over a promised investment to keep the EV startup afloat. Thus, the fate of the Endurance electric truck is again up in the air as the company plans to sell off its assets. The Lordstown-Foxconn dispute started after the American EV startup received a stock delisting notice from the NASDAQ in April. Lordstown’s stock exploded shortly after…

The electric-truck maker was once cheered by investors during the SPAC boom and lauded by former President Donald Trump as a savior for a closed GM factory in Ohio. The electric-truck maker was once cheered by investors during the SPAC boom and lauded by former President Donald Trump as a savior for a closed GM factory in Ohio. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the…