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Daily Mirror
2 days ago
- Business
- Daily Mirror
John Torode's businesses collapsed after racking up eye-watering debts
Two of John Torode's businesses had previously gone bankrupt, owing over a staggering £160,000 to creditors, years before he was axed by the BBC As John Torode prepares to launch legal action against the BBC, it's emerged that two of his businesses collapsed in the last decade. The TV chef, 60, was recently fired from the BBC 's MasterChef following complaints he used racist language, which he denies and says he has no recollection of doing so, and has since vowed to take legal action. It comes after two of his TV production firms sank in the last nine years, owing over £160,000 to creditors. Marcel Ltd, which was named after his son from a previous marriage, was dissolved in December 2019. The company went bust three years prior, racking up debts of £104,219. Marcel was wound up in a voluntary liquidation with creditors, meaning a business is closed as it cannot pay the debts it owes. The statement of affairs for the business, filed to Companies House, showed it owed £36,388 to HMRC, a further £13,950 to trade creditors, and an additional £53,881, to another firm which was owned by John. Toad Productions Ltd, the firm that was owed money by Marcel Ltd, also went under at the same time. John also owed £55,000 for an overdrawn director's loan account. The liquidator's report says that following meetings with Torode and his accountant, a decision was made for him to pay back £33,348 – which he did over a six month period. After £23,000 liquidator fees, there was enough to pay £9,890 to creditors, which is 9.37 pence in the pound. According to Companies House, Toad Productions Ltd was wound up in August 2016 and eventually dissolved in February 2021. It owed a total of £58,203, with £54,603 to HMRC and a further £3,600 to trade creditors, according to the Statement of Affairs. Liquidators were able to secure £8,500, but after paying their fees, there was nothing left for the creditors, according to the Daily Mail. Currently, John's only active business, Caspar 10 Ltd, filed its accounts this week. Caspar is the name of his son, whom he shares with his ex-wife, Jessica. The documents show its reserves increased by £40,132 from the previous year, and now stand at £47,351. The business owes a staggering £93,523 to creditors. However, John didn't feature in the BBC's recent rich list, which documents their highest earners as he is part of the commercial branch of the corporation – BBC Studios, so it is unknown how much he earns from them. This week John vowed to take legal action against the license fee payer-funded corporation, after he was sacked from MasterChef. Torode said he had "no recollection" of using the racist term - and in a statement, told how he'd only found out his contract had been terminated after the Beeb and producers Banijay put out the news. Now sources close to the star say he's speaking to employment lawyers as he fights to "clear his name." "John is preparing to launch the lawsuit against the BBC," the source told the Mirror. "He wants to pursue them for unfair dismissal. He's telling people there is no proof of his supposed comment. It was not in a work capacity; it was just hearsay. John is determined to clear his name." The Australian star continues to insist he had no knowledge of the "offensive" comment he was accused of making, despite lawyers Lewis Silkin upholding the complaint, said to be from 2018 in their independent investigation into the series.
Time of India
4 days ago
- Business
- Time of India
Cory Mills apartment scandal: Why is the Florida Congressman losing his swanky Washington home?
Republican Congressman Cory Mills is being sued for eviction in Washington DC after allegedly failing to pay over £65,000 ($87,406) in rent on a luxury apartment , according to US media. Cory Mills claimed a faulty payment portal has prevented him from paying $85,000 in rent for his penthouse apartment. The legal action was filed by Bozzuto Management in July 2025, claiming months of missed payments. The luxury apartment, overlooking the Potomac River, has a price tag of $20,833 per month. Cory Mils to be evicted from his apartment? Court records show the landlord has filed papers to evict US Rep. Cory Mills from his Washington apartment. The management company alleged in a legal complaint that the New Smyrna Beach Republican owes more than $85,000 in rent dating back to March. The complaint was filed in the Superior Court of the District of Columbia on Wednesday last week, according to Florida politics. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More ALSO READ: 'Its a match': White House's cheeky Tinder post as ICE arrests Chinese national, now she faces deportation According to the lawsuit filed on 15 July, Mills now owes more than £65,000 in unpaid rent, which does not include legal costs and late fees. Records show that the congressman has a history of late payments dating back to June 2023, having been charged over £650 ($874) in penalties. The court has scheduled an eviction hearing for September 2025. Live Events The penthouse level of his building offers residents 'access through private elevators for discrete comings and goings,' 'captivating views in every residence,' 'bold Italian cabinetry,' 'Calacatta quartz countertops' and the services and amenities 'of a world-class hotel,' according to the website. The building was once home to former President Joe Biden's granddaughter, Naomi, further adding to the flat's high‑profile status. Cory Mils' landlord has alleged that the he has not paid his rent since March, documents filed last week in the Superior Court of the District of Columbia show. ALSO READ: Conor McGregor slid into Azealia Banks' DMs with explicit pictures? US rapper makes massive claim Cory Mills responds 'I know facts are unusual and unfamiliar thing for you,' Mills wrote on X Monday, in a fiery response directed at Daily Beast reporter Roger Sollenberger, who first reported on the eviction case, 'but here's just the past two months where you can see I'm repeatedly asking for payment links and again as I tried with management today, it failed to process.' In his tweet, Cory Mils included screenshots of two emails he sent to his landlord on June 17 and July 3, reporting that the link he has 'does not work.' The lawmaker argued that the error code he's receiving, which he also included a screenshot of, is indicative of a problem on the landlord's end. Mills has also taken to social media, calling out journalist Roger Sollenberger who reported on the lawsuit. In a heated post, Mills described him as a 'biased hack' and insisted he had 'repeatedly requested functional payment links' from the property management. ALSO READ: Conor McGregor's romantic encounter with woman on Florida beach, sparks speculation online. Who is he? A statement from Mills' congressional office said: 'Congressman Mills has been in continuous communication with the landlord in an effort to resolve the payment issue, which was caused by a broken portal link beyond his control.' Mills' eviction has drawn criticism given his strong public image as a conservative figure focused on accountability and American values. The juxtaposition between his patriotic messaging and the financial dispute has fuelled online discussion and political commentary.
Time of India
08-06-2025
- Business
- Time of India
Jaiprakash Associates Ltd creditors extend bid deadline by 15 days
Jaiprakash Associates Ltd faces debt resolution. NARCL, the lead creditor, extends the bid submission deadline by 15 days. This decision follows requests from interested bidders. The company owes creditors ₹57,185 crore. Several companies including Adani Enterprises and Dalmia Bharat have shown interest. NARCL holds the majority of the debt. The resolution process continues under the Insolvency and Bankruptcy Code. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Creditors to Manoj Gaur-promoted Jaiprakash Associates Ltd (JAL), led by National Asset Reconstruction Co Ltd ( NARCL ), have decided to extend the timeline for submission of bids by another 15 days from June 9. The decision was taken at the meeting of the committee of creditors (CoC) over the weekend after requests from some bidders for more time to submit their bids. "Some bidders requested for more time and NARCL, which is the largest creditor, has agreed. This will be conveyed to all stakeholders on Monday," said a person familiar with the process, who did not wish to be did not immediately reply to ET's email seeking comments. The debt-laden holding company of the real estate, cement and engineering, procurement and construction (EPC) group, operating mostly in Delhi-National Capital Region, owes creditors a total of ₹57,185 crore. Interested bidders have to submit an earnest money deposit and performance have also sought bank guarantees of ₹8.5 lakh against 100% margin (in the form of a lien marked fixed deposit), to cover for the mining plan for Degarhat Devmaudaldal leased limestone mine of reports said that more than two dozen varied bidders including power and cement companies, alternative asset managers and EPC companies have expressed interest in placing formal bids. They include large companies such as Adani Enterprises Vedanta , Patanjali Ayurveda, Naveen Jindal's Jindal Power, GMR Group, Kotak Alternate Asset Managers, Oberoi Realty and Torrent Power. ET could not immediately ascertain the names of the is the single largest creditor to the company, having taken over 87% of the ₹57,185 crore debt from banks in January. Acre ARC, with 4% of the debt, and Axis Bank, with 1.60% of the debt, are the other large is among the largest companies undergoing the corporate resolution process under Insolvency and Bankruptcy Code . In terms of debt size, the JAL resolution is only dwarfed by the ₹65,000 crore owed by Videocon Industries to its creditors.
Time of India
02-06-2025
- Business
- Time of India
Elon Musk reportedly stalls on final $100 million payment to Donald Trump amid reports of widening rift
Elon Musk Reportedly Owes Donald Trump $100 Million Amid Fallout Over Political Rift- In a surprising twist to one of the most high-profile political partnerships in recent years, billionaire tech mogul Elon Musk reportedly still owes Donald Trump $100 million, according to a report from The Wall Street Journal . The sum is part of a larger $300 million commitment Musk allegedly made to support Trump's reelection efforts — but tensions between the two appear to be disrupting the flow of funds. Is Elon Musk withholding $100 million from Donald Trump's campaign? According to WSJ , Trump's advisors have confirmed that the final $100 million installment hasn't been delivered. That missing amount has fueled speculation that the once-close relationship between Trump and Musk is unraveling. The pair shared a public alliance over the past year, especially during the election run and early days of the Trump administration. But the bond has since weakened, with insiders now describing the situation as 'strained.' What caused the rift between Elon Musk and Trump? One major source of tension appears to be Musk's frustration with a secretive meeting between Trump and OpenAI CEO Sam Altman, one of Musk's known rivals. The WSJ reported that Musk was so angered by the news that the meeting was delayed just to calm him down. Altman never made it to a planned public event with Trump, likely due to the behind-the-scenes drama. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Adding to the fallout, Trump administration officials have grown frustrated with Musk's behavior inside the Department of Government Efficiency (DOGE) — a division Musk was put in charge of. The tech billionaire often made decisions without coordinating with key Trump officials, according to WSJ . At one point, the tension reportedly got so bad that Trump had to assign someone to monitor Musk's actions, effectively acting as a political babysitter. Did Musk's White House influence come to an end? Over time, Musk's presence at the White House dwindled. From being there several days a week, he reduced his visits to just a few, signaling a shift in his engagement. Musk also clashed with Trump's economic policies — particularly the rollout of extreme tariffs and a costly legislative proposal dubbed the 'big, beautiful bill.' Live Events In a CBS News interview, Musk criticized the bill, saying it adds trillions to the federal deficit and undermines the DOGE team's efforts. His stark disapproval appeared to be the final straw, according to sources familiar with the situation. Is Tesla suffering from Musk's political entanglements? Meanwhile, Tesla's sales and revenue have sharply declined, with analysts pointing to Musk's increasing alignment with far-right ideologies as a contributing factor. His active role in reshaping federal policies and slashing budgets may have earned him political points early on, but now it's reportedly damaging his business reputation. Despite the internal friction, Trump hasn't openly admitted to a full-blown fallout. During Musk's recent farewell party at the White House, Trump claimed, 'Elon is not really leaving. He's going to be back and forth.' But many observers aren't so sure. Is this the end of the Musk-Trump alliance? The situation paints a picture of a once-powerful alliance turning cold. Trump himself recently questioned Musk's credibility in budget negotiations, allegedly asking his advisors, 'Was it all bullsh*t?', in reference to Musk's promise to slash $2 trillion in government spending — a number that now seems massively overestimated. For now, the $100 million question remains unanswered, both literally and figuratively. Whether Musk will fulfill his financial promise to Trump, or if this is a permanent split, is something only time will reveal. On the Elon Musk and Donald Trump political drama As the story unfolds, it highlights how fast political and business relationships can change — especially when ego, influence, and billions of dollars are involved. With The Wall Street Journal shedding light on the tension, all eyes are now on whether Musk will pay up — or pull away for good. FAQs: Q1: Why does Elon Musk owe Donald Trump $100 million? Musk reportedly pledged $300 million to support Trump's campaign but hasn't paid the final $100 million. Q2: What caused the fallout between Elon Musk and Donald Trump? Their rift began over policy disagreements, Musk's behavior, and Trump's secret meeting with Sam Altman.
NZ Herald
26-05-2025
- Business
- NZ Herald
Collapsed cannabis firm Greenfern leaves $3m debt and smokes $10.5m of shareholder capital
Failed medical marijuana company Greenfern Industries owes creditors $3 million and additional claims are expected, according to receivers Waterstone Insolvency's first report, released today. Debt funders Emdex Ltd pushed the company into receivership in February, following confirmation that the previously NZX-traded company could not meet its payment obligations. At the
