3 days ago
Chinese real estate giant Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world's second-biggest economy. Property developers in China have in fact created an oversupply: there is enough empty property in the country to house more than 90 million people. FRANCE 24's team reports.
A Texas court has rejected the NRA's bankruptcy case, calling it an attempt to avoid prosecution on fraud charges. The ruling judge said the NRA filing was made to gain "unfair advantage" in litigation.
A corruption lawsuit against the gun-lovers' lobby has pushed the NRA to declare bankruptcy. The group says the move will ensure "sustainable" growth.
5 Dec 2020
The coronavirus pandemic has eroded business for hairdressers across Germany. Now, the Klier Hair Group says it will need to close shops and lay off workers if it is to survive.
22 Apr 2020
Here is why you should pick a copy of The Guardian on Thursday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Thursday.
18 Feb 2020
The organization has been accused of covering up decades of sexual abuse thought to have affected thousands. The bankruptcy filing would allow Boy Scouts of America to bring all of the abuse lawsuits into one court.
27 Jun 2019
The Emir of Kano, H.E. Lamido Muhammad Sanusi II, has come ‘under fire’ after he took aim at the Federal Government’s subsidy policies; policies he says will eventually throw Nigeria into bankruptcy.
17 Jan 2019
Guam's Archdiocese of Agana has joined 20 other dioceses and religious orders in the US in filing for bankruptcy protection because of civil litigation alleging decades of clergy abuse of children. The cases are ongoing.