Former MyBucks SA CEO David van Niekerk claims the provisional liquidation of Ecsponent, the previously JSE-listed company now renamed Afristrat, appears to be an attempt to rewrite history and misattribute responsibility for the group’s dire financial situation. Van Niekerk said the underlying issue remains the actions of Afristrat CEO George Manyere, “not only as a…
Finance Minister Nirmala Sitharaman on Tuesday introduced Bankruptcy Code Amendment Bill, 2025 to amend the Insolvency and Bankruptcy Code, 2016. The bill has proposed multiple changes to fast-track the insolvency proceedings in the country. The amendments proposed pertain to curbing delays by empowering creditors to initiate insolvency process outside of court in case of genuine…
[SINGAPORE] A total of 466 luxury items and 58 pieces of gold bars from the S$3 billion money laundering case have been handed over by the police to professional services firm Deloitte to manage and liquidate. They include Patek Philippe and Richard Mille watches, multiple diamond-encrusted jewellery, Hermes and Louis Vuitton handbags. The gold bars…
An Australian trucking company has gone into liquidation after almost 60 years in business. DJK Transport entered voluntary liquidation on Friday, after a restructuring practitioner was appointed in June. The business is listed as being based out of Austral in southwestern Sydney, and according to its website, has been a “trusted transport service since 1968”…
Union Finance Minister Nirmala Sitharaman speaks in Lok Sabha during the Monsoon Session of Parliament, in New Delhi on Tuesday. (Sansad TV/ANI Video Grab) NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday introduced amendments to the Insolvency and Bankruptcy Code (IBC), aimed at making the law more effective and speed up the process, while proposing…
Eight more trucking companies filed for bankruptcy in the past month while two others ceased operations, and tightened lending standards are prolonging the industry downturn. These transportation firms filed for Chapter 11 since the start of July, according to U.S. Bankruptcy Court documents obtained by Equipment Finance News: Daniel Trucking International filed July 7 in…
UK ministers have appointed insolvency advisers to make contingency plans for the potential collapse of Thames Water. The company, which supplies 16 million customers, has been racing to pull together a deal to avoid financial collapse. In a development first reported by Sky News, Steve Reed, the environment secretary, has signed off the appointment of…
Tim Gordon Corrs Chambers Westgarth has hired Tim Gordon as a partner in its corporate practice in Sydney to focus on M&A transactions for listed companies, and Australian and international private equity funds, sovereign funds, multi-platform alternative asset managers and superannuation funds. “We expect Tim to focus on coverage for global PE, domestic and international…
A Christchurch courier company owing more than $1.2 million has gone into liquidation after being placed under the control of the Official Assignee. NJ & MS Holdings Limited, trading as Point to Point, was liquidated by order of the Greymouth High Court on 30 June following an application from the Inland Revenue. The business, based…
Aussie trucking company goes bust The Australian Read the original article here