UK carrier Monarch Airlines were said to be in the process of a radical overhaul of its business strategy as it held discussions with regulators regarding the annual extension of its tour operators licence. SkyNews claimed that Monarch was in the process of working out sale and restructuring options to its short-haul business with KPMG…
Dive Brief: AGI HoldCo, which does business as Aerosoles, announced on Friday that it has voluntarily filed petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware, according to a company press release. The company will close up to 74 retail stores as it reorganizes,…
Image: JobCentrePlus office. Wikimedia/Creative Commons This is a story about the preposterous demands for money made on people who rely on what we used to call the welfare state on councils, housing providers, and the Department for Work and Pensions. Organisations which are supposed to support, not fleece, people in the greatest need. Lets start…
In a massive setback to online homestay startup, Stayzilla, the National Company Law Tribunal (NCLT) ordered insolvency proceedings against it. The Chennai bench of the NCLT, on Monday, said that the company had defaulted in payments to JigSaw Solutions and ordered for insolvency proceedings to begin. Stayzilla CEO Yogendra Vasupal “We are satisfied that the…
Stayzilla CEO says that this act is biased against companies and its important to be proactively litigious when they find any issues with vendors. The National Company Law Tribunal (NCLT), Chennai has ordered online homestay startup Stayzilla to become insolvent and pay the outstanding dues to JigSaw Advertising and Solutions. It was hearing the insolvency…
The worlds top financial watchdog has uncovered $14 trillion of global dollar debt hidden in derivatives and swap contracts, a startling sum that doubles the underlying levels of offshore dollar credit in the international system. The scale of this lending greatly increases the risk of a future funding crisis if inflation ever forces the US…
CHENNAI: The Chennai bench of the National Company Law Tribunal (NCLT) has ordered commencement of insolvency process against homestay aggregator Stayzilla. The matter relates to a case filed against Stayzilla by JigSaw Solutions. In an order dated September 15, NCLT technical member S Vijayaraghavan and judicial member Ch Mohd Sharief Tariq said, “It is established…
ROCKWELL Diamonds said it was puzzled by a decision to return its subsidiaries to provisional liquidation as it had received an offer in excess of its liquidation value. Business Rescue practitioner (BRP) Metis Strategic Advisors made a motion yesterday in the Kimberley High Court to place Rockwells subsidiaries into provisional liquidation. The BRP also informed…
On August 11, 2014, Bradley Dillon was sent a mysterious message: “car park under TAB”. It was 5.20pm and he was at Leichhardt TAB in Sydney’s inner west, after looking at a car with a friend. He left the shop, walking down to the parking structure below. Brad Dillon was shot dead in Leichhardt. Photo: Supplied…
Taylor Dow Property Group, which paid high commissions and other incentives to mortgage brokers, has been placed in liquidation. Worrells Solvency & Forensic Accountants has been appointed to wind up the company that recently claimed to have last year sold $2 billion of Australian property to buyers in seven countries. A creditors’ meeting was held…