ADMINISTRATORS of struggling macadamia processing and sales company Macaz will seek offers from interested buyers next week after investigations revealed mounting debt, poor management and legal challenges. Condon Associates Group managing principal Schon Condon said he wants to sell the company as a whole rather than auction off equipment to save jobs and business opportunities…
KOLKATA: While Innoventive Industries moved the Bombay High Court against the bankruptcy law, the Insolvency & Bankruptcy Board of India has registered six other cases including one involving Vijay Mallyas UB Engineering to begin insolvency resolution process against these companies, ushering in a new era in Indias dealing with sick businesses. ICICI Banks application for…
In recent weeks it was revealed that AIB is planning to purge many of its non performing loans from balance sheets. In advance of the banks planned privatisation, media reports last month suggested that the bank is also pursuing debtors through the courts. However, AIB is not alone and there are fears that 2017 might well become the…
Craig Richardson was chief executive of the Wynyard Group. Photo / File Creditors have placed failed crime-fighting software company Wynyard Group into liquidation, the company announced today. KordaMentha partners Grant Graham and Neale Jackson, who were running the voluntary administration, of Wynyard have been appointed liquidators of the company and subsidiary Wynyard (NZ) Limited. The…
Insolvency firm McTear, Williams and Wood’s business distress index. Archant Increasing economic pressure could push struggling businesses over the edge in 2017, an expert has warned. … Read the full article at: http://www.edp24.co.uk/business/insolvency_may_hit_more_of_region_s_firms_in_2017_1_4882859
Annabel Whittaker & Nicky Calthrop-Owen
Troubled Melbourne milk broking company National Dairy Products (NDP) will now be wound up, after a bid to keep it trading was withdrawn. NDP MEETING: National Dairy Products (NDP) founder Tony Esposito has confirmed he has withdrawn the Deed of Company Administration (DOCA). Deloitte joint and several administrator Glen Kanevsky said NDP had informed him a…
New Delhi: The voluntary liquidation process for corporate insolvency is soon to be finalized. The third working group on bankruptcy held its final meeting on Wednesday to finalize draft regulations for fast track corporate insolvency resolution and voluntary liquidation under the Insolvency and Bankruptcy Code (IBC). The group is likely to submit its report by…
Leigh Sales spent an eternity on hold with Centrelink and let the world know about it. Picture: 7:30 THANKS to the silence of the great broadcaster and one its famous presenters, no-one will know if the ABCs Leigh Sales actually did get through to Centrelink yesterday. The 7.30 Report host gave Centrelink a blast on…
NDP MEETING: National Dairy Products (NDP) founder Tony Esposito has confirmed he has withdrawn the Deed of Company Administration (DOCA). Deloitte joint and several administrator Glen Kanevsky said NDP had informed him a deed of company arrangement (DOCA) had been withdrawn, nor would there be a revised document. There wont be a DOCA proposal, presented…