Liquidators will investigate the activities of Hayden Russell, director of the Australian dairy processor Mundella Foods, following the liquidation of the company and its affiliates, Margaret River Dairy Company and The Cheeky Cow, in Western Australia. The administrators have preliminarily reported signs of possible trading while insolvent and hundreds of transactions that may be deemed…
Creditors say they may not see a cent of the millions owed to them by collapsed West Australian dairy processor Mundella Foods and two other associated companies. Mundella, Margaret River Dairy Company and The Cheeky Cow were put into liquidation this month. Director Hayden Russell is facing investigations by liquidators at Mackay Goodwin following administrators’…
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Diamond Luxury, incorporated in 2020, operates a builder business from 1534 Dundas Street West in Mississauga, which is owned by 1000704900 Ontario Inc. Both companies are directed by Imran Ahmed. RBC provided Diamond Luxury with a $1.5 million revolving demand facility and $50,000 business credit card, while the numbered company received a $1.125 million non-revolving…
Creditors have voted to wind up ZEN Energy and 11 related companies after administrators failed to secure a buyer, with the group owing about $1.1 billion and secured creditors facing recoveries of no more than about 10 cents in the dollar even in a high-case scenario. Read the original article here
Business NSW New England North West (NENW) is calling for targeted reforms in the upcoming NSW Budget, warning that rising energy, insurance, and compliance costs are pushing many small and medium-sized businesses (SMEs) to the brink. The regional peak body said the burden of rising operational expenses is undermining business viability and threatening jobs in…
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The Insolvency and Bankruptcy Board of India (IBBI) has flagged the misuse of the insolvency process by companies seeking to evade taxes, conceal assets and avoid regulatory or criminal action, saying the bankruptcy framework is in some cases being used for purposes other than rescuing distressed businesses. In a recent discussion paper, the insolvency regulator…
The collapse of a Norwich-based ski holiday specialist serves as a stark warning for travelers: not all bookings are created equal when a travel agency fails. While package holiday guests are often shielded by statutory protections, those who booked standalone accommodation may face significant financial hurdles. Norwich Ski Specialist Enters Voluntary Liquidation On July 22,…
UK flight school collapsed into liquidation with HMRC owed money oxfordtimes.co.uk Read the original article here