MARTIN DE RUYTER/Stuff Challenge Marine employees were surprised by the liquidators letter, but the signs of trouble were there, an employee said. Employees of a marine company have been left without income or tools after the business went into liquidation at level 4 owing more than $3.8 million. Around a dozen employees worked at Challenge…
Stationery company kikki.K has gone into voluntary administration for the second time in 17 months. Kikki.K co-founders Kristina Karlsson and Paul Lacy have written to staff to tell them the difficult news, The Australian Financial Review reports. “Today is a sad day. Writing this note together is a sad task and we still can’t quite…
Tobi Soniyi A Federal High Court in Lagos, has dismissed a bankruptcy petition filed against the former Managing Director of Staco Insurance PLC, Dr Sakiru Olanipekun Oyefeso. The court also awarded costs of N50,000, against the Insurance firm that wrote the petition against Oyefeso. In its statement of facts, Staco Insurance had alleged that while…
Mumbai, Aug 30: Aashit Shah, Partner, J Sagar Associates, has said that infrastructure regulators and Securities and Exchange Board of India (SEBI) would need to work in tandem for a successful insolvency resolution of an INvit which may involve a change in the sponsor, investment manager or trustee or transfer of an infrastructure asset. In…
In its annual list of Asias Top Offshore Litigators, ALB highlights top disputes practitioners working with offshore law firms, who have successfully handled significant cases and exceeded client expectations in the process. The full list is in alphabetical order, and a few lawyers have been profiled here. JOANNE COLLETTWalkers STUART DADDONAWalkers AISLING DWYERMaples Group ROBERT…
The Insolvency and Bankruptcy Code (IBC) was enacted to ensure a cultural transformation in the insolvency and bankruptcy landscape. It established a new architecture for insolvency resolution and liquidation. Strict timelines were introduced and a code for judicial restraint was built into the law at every step of the process. It also established the Insolvency…
Media connections and analysis company, Medianet /Mediaverse is restructuring the business to rationalise the management structure of the two operations. As a result Michael OConnell, managing director of Medianet and Mediaverse, and Sarah Higgins, general manager of Medianet will leave the business. The restructure is aimed to take an increasingly product and technology-enabled approach. Amrita…
CavinKare indicated that the business will be split into mainly four different streams – FMCG, ecommerce, retail and research and development. TopicsCavinKare|FMCG|ecommerce Shine Jacob | Chennai Last Updated at August 30, 2021 19:03 IST In a first step towards succession plan, Chennai-based fast-moving consumer goods (FMCG) major CavinKare on Monday announced the restructuring of its…
To prevent crops from going to waste, the Dutch bankrupt greenhouse company Eden Tech was allowed to continue operating for a few more months. Now the trustee investigates a relaunch. For several years, the Eden Tech team has been working on their technology to grow crops in the most efficient way possible, minimizing the use…
Mumbai (Maharashtra) [India], August 30 (ANI): Barely one per cent of eligible companies in the portfolio of Crisil Ratings have opted for or are contemplating the debt restructuring facility offered by the Reserve Bank of India (RBI) under its resolution framework 2.0, a survey of 4,700 companies shows. As much as 95 per cent of…