A Tauranga builder who went into liquidation leaving behind 30 unfinished houses owes at least $4.35 million. This has been revealed in liquidator Tom Rodewald’s first report into the financial affairs of Bella Vista Homes Ltd. Rodewald’s report on the Pyes Pa-based company was as at November 1 – the date Bella Vista went into…
LONDON/NEW YORK (Reuters) – ED&F Man said on Friday it is reviewing its physical grains trading operations after a challenging year and may partially or entirely exit the business. The company said it would not be taking new positions in physical grains during the review, which is the latest leg of restructuring at the more…
A Tauranga builder who went into liquidation leaving behind 30 unfinished houses owes at least $4.35 million. This has been revealed in liquidator Tom Rodewald’s first report into the financial affairs of Bella Vista Homes Ltd. Rodewald’s report on the Pyes Pa-based company was as at November 1 – the date Bella Vista went into…
FRANKFURT, Dec 8 (Reuters) – Phoenix Solar, once one of Germanys largest solar groups during the sectors heyday, on Friday said it would file for insolvency next week after an unnamed U.S. customer demanded payments that exceed the groups funds. Following the drawdown of project-related letters of credit in the amount of approximately $8 million…
AHMEDABAD | MUMBAI: The National Company Law Tribunal’s Ahmedabad chapter has adjourned the bankruptcy petition against Reliance Naval and Engineering filed by financial creditor IFCI. The dedicated bankruptcy court will next hear the case on December 19. The company has pointed out to the court that there is no provision in the Insolvency and Bankruptcy…
* Court allows government to replace 10 existing directors * Bans existing directors from raising loans, selling assets * 19,000 buyers await delivery of apartments * Unitech owes about 7.24 bln rupees to 51,000 depositors (Adds details) By Manoj Kumar NEW DELHI, Dec 8 (Reuters) – An Indian court on Friday allowed the government to…
HYDERABAD: In an order involving insolvency process of Kamineni Steel, NCLT exercised discretionary powers in determining voting share of lenders for approving resolution plan, while indicting three dissenting banks for their ambiguous stand. The NCLT bench at Hyderabad has passed strictures on officials of PSBs while approving the resolution plan involving one time settlement submitted…
RG Shaw & Sons Pvt Ltd, a 79-year old seller of liquor, spirits and wine in Kolkata, is heading for liquidation as the promoters did not submit resolution plans while it defaulted working capital loans from State Bank of India and other unsecured financial creditors, two people familiar with the development said. The company defaulted…
LUXURY handbag maker Oroton has collapsed, becoming the nation’s latest retail victim. The listed luxury retailer, whose most recent public face has been Aussie actor Rose Byrne, announced this morning is was placing itself in voluntary administration. Since the announcement was made, people have been hitting the label’s outlet website to snap up heavily discounted…
The Mumbai bench of NCLT on Friday admitted edible oil maker Ruchi Soya for insolvency resolution process under IBC. A detailed order is expected by Monday. The company was referred to the tribunal by Standard Chartered Bank as well as DBS Bank, individually and both petitions have been admitted by the court. It owed more…