this post was submitted on 27 Nov 2024
30 points (87.5% liked)
Europe
1584 readers
363 users here now
News and information from Europe ๐ช๐บ
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
Rules (2024-08-30)
- This is an English-language community. Comments should be in English. Posts can link to non-English news sources when providing a full-text translation in the post description. Automated translations are fine, as long as they don't overly distort the content.
- No links to misinformation or commercial advertising. When you post outdated/historic articles, add the year of publication to the post title. Infographics must include a source and a year of creation; if possible, also provide a link to the source.
- Be kind to each other, and argue in good faith. Don't post direct insults nor disrespectful and condescending comments. Don't troll nor incite hatred. Don't look for novel argumentation strategies at Wikipedia's List of fallacies.
- No bigotry, sexism, racism, antisemitism, dehumanization of minorities, or glorification of National Socialism.
- Be the signal, not the noise: Strive to post insightful comments. Add "/s" when you're being sarcastic (and don't use it to break rule no. 3).
- If you link to paywalled information, please provide also a link to a freely available archived version. Alternatively, try to find a different source.
- Light-hearted content, memes, and posts about your European everyday belong in !yurop@lemm.ee. (They're cool, you should subscribe there too!)
- Don't evade bans. If we notice ban evasion, that will result in a permanent ban for all the accounts we can associate with you.
- No posts linking to speculative reporting about ongoing events with unclear backgrounds. Please wait at least 12 hours. (E.g., do not post breathless reporting on an ongoing terror attack.)
(This list may get expanded when necessary.)
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to the mods: @federalreverse@feddit.org, @poVoq@slrpnk.net, or @anzo@programming.dev.
founded 5 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Lmao, what kind of garbage article is this?! In the headline, the say Northvolt filed for bankruptcy, and in the text, they claim Northvolt filed for bankruptcy protection. Like idk, there's a huge fucking difference between the two...
What actually happened is that Norhtvolt filed for Chapter 11 in the US, also called reconstruction.
Yes, this Euronews article doesn't make sense.
Northvolt says that operations to continue as usual during Chapter 11 reorganization process, with company meeting obligations to customers, vendors and employees. Voluntary reorganization facilitates access to approximately $145 million in cash collateral and $100 million debtor-in-possession financing (from Scandinavian truck maker Scania). This is not even mentioned in the article.
In a nutshell, the liquidity crisis Northvolt faces is serious, we must not downplay that, but it's far from what the article suggests for now. It's not a collapse.
Bankruptcy is a legal status that provides protection from creditors when you're out of funds to pay them. Basically, suspends their ability to compel payment of your debts to them while a court addresses the situation.
Yeah, that's the Bancruptcy Protection that they mentioned, but the article get the two completely mixed up..