The odds were stacked against Eva Dellow’s small business surviving. The co-founder’s joinery company in Sydney’s Botany was struggling to grow after being founded in 2016. She did not want it to be among the 75 per cent of new businesses that failed within seven years. “Just because someone starts a business, doesn’t mean that…
Claire’s finds buyer, pauses liquidation sales at most Phoenix stores The Business Journals Read the original article here
Amidst ride-hailing company BluSmart Electric Mobility’s ongoing insolvency proceedings, claims worth over Rs 500 crore have been reportedly filed by over 200 applicants. The company, which was accused of corporate governance lapses and loan diversions, had insolvency proceedings initiated against it on July 29, following a plea by financial creditor, Catalyst Trusteeship, was admitted by…
The travel brand Antler acquired the intellectual property of Paravel, a direct-to-consumer luggage maker based in New York, in a liquidation auction last month, Antler said Tuesday. Paravel, known for vintage trunk-style rollers and monogrammable totes, filed for Chapter 7 bankruptcy in May. Antler, which is owned by Australian travel retail chain Strandbags, won the…
Timaru dessert company put into liquidation The Press Read the original article here
The petition was filed by the Union Bank of India before the NCLT, Mumbai Bench-Court III, seeking initiation of bankruptcy proceedings under section 123 of the IBC, 2016. The respondent, Mr. Kapil Wadhawan, acted as the personal guarantor of the DHFL, a corporate debtor that had undergone the corporate insolvency. The petitioner extended various credit…
Liquidators have been appointed for Ardgour Valley Orchards, near Tarras, but information is scant on what exactly is happening. An advertisement in the Otago Daily Times last week said liquidators had been appointed for Ardgour Valley Orchards GP and Ardgour Valley Orchards LP. The liquidation decision was made by the special resolution of the shareholders on August…
Meanwhile, the government, on Aug. 12, introduced a bill in the Lok Sabha to amend the IBC, proposing a raft of changes, including provisions to reduce the time taken for admission of insolvency resolution applications, an out-of-court mechanism to address genuine business failures, as well as group and cross-border insolvency frameworks. Read the original article…
Justice Sharad Kumar Sharma, the judicial member of the NCLAT, has recused himself from hearing the matter. Photo: nclat.nic.in In a rare incident, a judicial member of the National Company Law Appellate Tribunal (NCLAT) has alleged being “approached by one of the most revered members of the higher judiciary”, seeking an order in favour of…
Meet Man Who Won Rs 5 Crore On KBC, Went Bankrupt, Got Addicted To Alcohol, Sold Milk For Survival And Now Works As….. Zee News Read the original article here