Search

Eco-friendly carsharing Facedrive announced bankruptcy threat

On September 6, the Facedrive founder Imran Khan announced that the company was heading for bankruptcy. The former president of the Toronto-based company did so after another ex-CEO, Sayan Navaratnam, filed a lawsuit against ... ... company’s shares, due to which the company's assets were catastrophically depreciated. Facedrive's history began in 2016 as a car-sharing startup and has become one of the fastest growing businesses in Canada. While many business sharks continued to ignore ...

AFTER THE SALE OF THE BANKRUPT'S CAR, THE DEBTOR IS NOT RESPONSIBLE FOR PAYING THE TRANSPORT TAX

... case for a new hearing (SCAD Ruling of the Supreme Court of the Russian Federation dated 02/29/2024 No. 80-KAD23-8-K6) and drew attention to the following: • The court has completed the procedure for the sale of the debtor's (defendant's) property. The bankruptcy estate also includes a cargo tractor, which was sold by the financial manager as part of the bankruptcy procedure under the purchase and sale agreement. • Thus, the vehicle belonging to the administrative plaintiff was forcibly sold by the financial manager to another person ...

CHINESE ELECTRIC VEHICLES STARTUP BYTON IS AT RISK OF BANKRUPTCY

Founded in 2016-2017, the electric crossover brand Byton is on the verge of ruin. Having discovered another delay in payments under a loan contract, Shanghai Huaxun Network System filed for bankruptcy in the court of Nanjing. Future Mobility company, which planned to produce modern cars under the Byton brand, was founded by the former heads of BMW and Nissan dealerships in Hong Kong. Thanks to the support of the Chinese leadership, the startup has received hefty subsidies, giving investors hope. In 2017, the firm changed its name ...

CHINESE ZOTYE AUTO IS ON THE WAY TO BANKRUPTCY

The crisis that took place at the Chinese company Zotye is escalating to bankruptcy. Local media report that the company is currently trying to undergo reorganization, but the question of the future ... ... trademark has not yet been resolved. Founded in 2005, the company is famous for its ability to create clones of popular European car models. One of the clearest examples of this approach to production was the almost complete copy of the Porsche Macan, which ...

THE DISPUTE OVER THE PROPERTY PREVENTS THE RECOGNITION OF THE TRANSACTION AS INVALID

As part of the bankruptcy case of a citizen, the manager appealed to the court with an application to challenge the car purchase and sale agreement (case no. A56-98733/20). The defendant declared the suspension of proceedings on the dispute, the court of first instance granted this application, pointing out that the presence in the proceedings of the district court ...

SUPREME COURT OF RUSSIA: WHAT ARE THE ACTIONS OF CREDITOR IN THE EVENT OF TERMINATION OF THE AGREEMENT WITH BANKRUPT

... parties two options for getting out of the conflict: the creditor keeps the car, includes a claim for damages in the register of creditors’ claims, while their value is adjusted taking into account the value of the goods; the creditor transfers the car to the bankruptcy estate, in which case the former buyer becomes the collateral lender. Subsequently, his claims are satisfied in accordance with article 138 of the Insolvency Law . In both cases, the rights of the creditor-purchaser and the debtor-bankrupt ...

Sorted by relevance | Sort by date