Liquidation
Troubled platform UCars founded by group of dealers wound up on S$4 million debt
Winding up application filed on Feb 23 after previous legal tussles between company and its main shareholder
Spirit Airlines at risk of facing liquidation as fuel costs bite
Airlines broadly are grappling with higher jet fuel prices due to the US-Iran war
China starts bankruptcy liquidation of shadow bank Zhongzhi
The move signals regulators’ determination to draw a line under years of opaque shadow banking practices
Italy’s UniCredit says no plans to liquidate Russian business
CEO Andrea Orcel has said Italy’s second-largest lender will not damage its shareholders by exiting Russia at a loss
Twelve Cupcakes staff to recover part of unpaid salaries from end-March: F&B union
The Food, Drinks and Allied Workers Union says it has been assisting affected members since October 2025
Cotton On not exiting Asia; liquidated Asian unit is inactive and does not operate any stores
Clarification followed media reports that it was closing Asia retail operations based on liquidation of a dormant entity
Banks cannot intervene in winding-up bids by 1MDB-linked firms: Singapore High Court
They are ruled to have no standing to participate in the process, even though claims may later be brought against them
Compulsory winding-up applications rise to 15-year high in 2025
The number of business cessations is the third-highest since 1990
Nanyang Optical plans to enter into voluntary liquidation after 65 years; will close 4 of 6 stores
The eyecare chain’s remaining two stores, which are under franchise arrangements, will continue operating and are unaffected
Autobahn group fallout tightens private-hire car financing, but COE premiums unlikely to fall
Increased scrutiny by banks and finance companies may not have a big impact on the larger, market-moving players
