Linked cleaning firms placed in liquidation

Two Southern Lakes cleaning and laundry businesses, both with the same director, are insolvent and have been placed into liquidation. Brenton Hunt, of Insolvency Matters, was appointed liquidator of Busy Lizzy Queenstown Ltd earlier this week after the company was placed in liquidation by special resolution of the shareholders. In his first report, Mr Hunt…

Bad news for unsecured creditors

The collapse of large retailer Smiths City has liquidators expecting many creditors will go unpaid after adding up more than $26.8 million in liabilities. About 240 companies are owed money and unsecured creditors are also likely to be out of pocket after liquidators Colin Gower and Diana Matchett from BDO Christchurch combed through the company’s…

Salman Khan’s ₹7.24 crore dispute with Jerai fitness comes to an end after settlement

The legal dispute between actor Salman Khan and gym equipment maker Jerai Fitness has finally been settled after both parties submitted consent terms before the National Company Law Appellate Tribunal (NCLAT). The issue began when Salman Khan entered into a trademark licensing agreement with Jerai Fitness through his fitness brand Being Strong. The partnership started in…