Bankruptcy
latest news & developments
Africa in brief: August 21 – 28
What’s been happening on the continent this week?
Traditional universities must adapt or die
Covid-19 made obvious the need for universities to adopt fourth industrial revolution strategies
Steinhoff relies on legal ‘fig leaf’
Journalists’ court case challenges corporates that hide behind legal ‘professional’ privilege’
Thomas Cook folds, sparking worldwide repatriation of tourists
As well as grounding its planes, Thomas Cook has been forced to shut travel agencies, leaving the group’s 22,000 global employees out of a job
Who coughs up if your bank folds?
Authorities have come up with a plan to ensure customers of broken banks aren’t left in the lurch
You have to be rich to go bankrupt
Only the wealthy have the assets to afford the get-out-of-jail-free card, sequestration, and most South African’s can’t afford it.
Carmaker Saab files for bankruptcy
Saab Automobile has filed for bankruptcy, bringing to an end two years of efforts to rescue the iconic brand that manufactured cars for six decades.
Philadelphia orchestra files bankruptcy papers
The renowned Philadelphia Orchestra has officially filed for bankruptcy protection after falling victim to plunging ticket sales.
What’s in store for GM Africa?
GM Africa Operations will host a media conference on Monday, following GM’s filing for bankruptcy in the United States.
US to steer GM into bankruptcy, says report
The United States government is readying to steer General Motors into bankruptcy, according to a media report on Thursday.
GM reports $6-billion loss in first quarter
Troubled US carmaker giant General Motors on Thursday reported a net earnings loss of $6-billion in the first quarter.
GM bankruptcy unlikely to be swift or simple, experts warn
A government-steered bankruptcy of General Motors would likely not be swift or simple despite the best efforts of the US Treasury, analysts warn.
Brio toy trains head into buffers
The world’s leading maker of wooden toys, Brio, renowned for its colourful trains, is on the verge of bankruptcy, the company warned on Tuesday.