When a company becomes financially distressed, directors are often required to act quickly and decisively. However, directors may at the same time find themselves held back by the requirements of the Corporations Act 2001 (Cth) (the “Corporations Act”) or their company constitution. Whilst it is not unusual for financially distressed companies to grapple with matters…
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The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed an appeal filed by Drilltech Engineers challenging the National Company Law Tribunal (NCLT) Chandigarh Bench’s rejection of its insolvency plea against real estate major DLF. A coram of Chairperson Justice Ashok Bhushan and comprising Technical Members Barun Mitra and Arun Baroka held that the existence…
[HONG KONG] China Evergrande Group chairman Hui Ka Yan plans to refuse disclosing details of his assets, its liquidators said, likely complicating efforts to wind up the defaulted builder to pay back creditors. Hui expressed his intention in an Apr 23 response to the court, a lawyer representing the liquidators said in a Tuesday (Apr…
Ōrākei developer linked to liquidated firm accused of evading debt Business Desk NZ Read the original article here
Moneyhub, a leading UK data and analytics platform, has today announced an extension of their partnership with Experian, the global data and technology company, to introduce the innovative Credit Dashboard. This tool is designed to empower consumers with effective debt management solutions, enabling them to navigate financial challenges with greater ease and confidence. This collaboration…
Healthy ready meal firm Karri Kitchen enters liquidation Grocery Gazette Read the original article here
Several notable operators, including Scott’s Refrigerated Logistics, have collapsed in recent years. Photo: Scott’s Mounting financial pressure is pushing more Australian transport and logistics operators to the brink, as insolvencies in the sector accelerate, says a leading business recovery and insolvency firm. Jirsch Sutherland said a combination of rising costs, labour shortages, regulatory burdens and…
One of Australia’s largest environmental not-for-profits, Planet Ark Environmental Foundation, has been placed into administration by its governing board. The long-time environment and recycling advocacy group was put into voluntary administration after a board review of the organisation’s “financial position and future viability”. Planet Ark has been advocating for recycling across Australia since 1991. One…
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