Directors of Nixon Hire have hailed the firms resilience in the face of Covid-19, following a year of restructuring to refocus the firm and improve profitability. The industrial equipment company, first formed 52 years ago and headquartered in Newcastle, initially operated as a plant hire company with room to service no more than three machines…
Insolvency Claims in 2021 Given the impact of COVID, insolvencies are on everybodys mindhow to avoid them or how to navigate them. Knowing what to do when you find yourself in the middle of a business or personal insolvency is crucial. Litigation funding may be one of the most valuable tools in the insolvency toolbox.…
A major union is taking steps against the liquidation of Egyptian Iron and Steel Company, one of the companies linked to the Ministry of the Public Business Sector, RT reported on Wednesday. The company was established by the then President of Egypt, Gamal Abdel Nasser, in 1954. The head of the Syndicate of Private Sector…
South Korean baseball club Doosan Bears has asked the league office to suspend two minor league players, pitcher Jeong Hyun-wook and catcher Kwon Ki-young. Jeong reportedly purchased Sports Toto lottery tickets and Kwon gambled on an illegal betting website. Sports Toto is the only sports betting allowed in South Korea; however, Korea Baseball Organization (KBO)…
Most of AirAsia X Bhd (AAX)s lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganization, court documents filed this month show. In emails attached to the court filings, supportive lessors said they wanted to continue discussions with the budget airline and potential new investors, seeking…
The UK government has launched a legal bid to ban eight former Carillion directors from holding senior boardroom positions, almost three years on from the collapse of the outsourcing business. The Insolvency Service, which handles corporate collapses, said it was seeking to disqualify the directors in the public interest, in a move that could result…
The National Company Law Tribunal (NCLT) has directed to liquidate debt-ridden dairy firm Kwality Ltd after the company failed to finalise any bidder within the specified time-frame. The NCLT had directed to initiate insolvency proceedings against Kwality Ltd on December 11, 2018 over the plea filed by the financial creditors Punjab National Bank and KKR…
The director of a company that once billed itself as Brisbane’s premier home extension and renovation business before collapsing has declared bankruptcy with creditors unlikely to see any of their money, according to liquidators. Total Lifestyle Builders Pty Ltd went into liquidation in June last year owing more than $1.7m to 89 unsecured creditors as…