Spark Networks Services GmbH, the operator of online dating platforms Christian Mingle, JDate and Zoosk, is seeking U.S. bankruptcy court recognition of its German insolvency case, Bloomberg Law reported. The company filed its U.S. case after a failed restructuring in 2024 and its primary lender and equityholder, MGG Investment Group, pulled funding in January, according to court documents filed Monday in the U.S. Bankruptcy Court for the Southern District of New York. Spark Networks is seeking relief under chapter 15 and aims to sell its assets while continuing operations.
Canacol Energy Ltd. announced that the it and certain subsidiaries filed for relief under chapter 15 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of New York, according to a press release. The petitions for relief seek recognition of the Company’s Canadian proceeding commenced under the Companies' Creditors Arrangement Act, or CCAA, in the Court of King’s Bench of Alberta as a foreign main proceeding. At a hearing held on November 20, 2025, the U.S.
Central banks in big economies are nearing the end of their rate-cutting cycles, though some, like the U.S. Federal Reserve and Bank of England - which were more cautious earlier in the year - have scope to ease a little more, Reuters reported. Australia, Sweden and Norway all left rates unchanged this week, as did the BoE, albeit in a tight decision. The Swiss National Bank has been on hold since it cut its key rate to 0% in June, and markets expect it to remain there for now. The Bank of Canada, battling an economic slowdown exacerbated by U.S.
Brazil’s credit flareups are driving up borrowing costs and spooking investors, forcing companies in Latin America’s largest economy to scrap or scale down their plans to tap the debt market, Bloomberg Law reported. Companies’ issuance of hard-currency bonds fell by more than half in October compared to the same period last year, according to Bloomberg-compiled data. Those that have seen borrowing plans upended include CSN, which shelved a deal to refinance its 2028 dollar bonds in September.
The Netherlands' decision to take control of chipmaker Nexperia in September was due to fears the company's former CEO was already dismantling the company's European operations and moving production to China, four sources in The Hague familiar with the government's thinking said on Monday, Reuters reported. A monthlong standoff between China and the Netherlands over Nexperia has prompted carmakers in Europe, the U.S. and Japan to warn of possible production problems due to chip shortages.
Canadian artificial intelligence company 3MotionAI Inc. is seeking U.S. bankruptcy court recognition of its Ontario insolvency case and aims to halt a competitor’s noncompete litigation in Delaware, Bloomberg Law reported. 3MotionAI is looking to pause a suit brought by VelocityEHS Holdings Inc. as it prepares to sell its assets, according to a chapter 15 petition filed on Thursday in the U.S. Bankruptcy Court for the District of Delaware.
Bermuda-based captive insurer Northeastern Insurance Co. Ltd. has filed for Chapter 15 bankruptcy protection in the US District Court for the Southern District of New York, citing financial strain caused by the state's extension of the statute of limitations on sex abuse cases, InsuranceBusinessMag.com reported. According to court filings, Northeastern decided, in 2017, to stop underwriting new business and enter a runoff process. At the time, the company said it maintained adequate reserves.
A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA), the Insurance Journal reported. Northeast Insurance Co. has filed for “winding-up” of its business in Bermuda Supreme Court and has submitted a Chapter 15 filing in federal bankruptcy court in New York asking it to recognize those Bermuda liquidation proceedings.
Vijay Mallya, wanted in India to face trial on fraud and money laundering charges, has discontinued an application to annul a UK bankruptcy order ahead of a planned hearing in London on Monday, IndiaToday.com reported. It means the "Trustee in Bankruptcy" can continue to pursue assets to help a consortium of banks led by the State Bank of India (SBI) realise the repayment of an estimated judgment debt of around 1.05 billion pounds owed by the 69-year-old's now-defunct Kingfisher Airlines.
Orsted, the Danish renewable energy developer, said on Thursday that it would cut about 2,000 jobs, or around 25 percent of its work force, over the next two years, the New York Times reported. The move was the latest sign of the diminished prospects for offshore wind, a low-emissions technology that Orsted helped pioneer. “We’ll be saying goodbye to many skilled and valued colleagues,” Rasmus Errboe, Orsted’s chief executive, said in a statement.