Shoppers are seen at a Homeplus store in Seoul, Wednesday. Yonhap Embattled retailer Homeplus staved off immediate liquidation after winning court approval for its restructuring plan, but it still faces steep hurdles to achieve a full recovery, industry watchers said Thursday. The court’s decision on Wednesday took immediate effect, formally allowing Homeplus to carry out…
Crisis averted but home developer still on life support The Canberra Times Read the original article here
NAIROBI, Kenya, Sept 2 – The Commissioner for Co-operative Development, David K. Obonyo, has gazetted the liquidation of the Kenya Union of Savings and Credit Co-operatives Union Limited (KUSCCO) after the loss of billions of shillings through internal mismanagement. The decision to liquidate the union was agreed upon by members after the umbrella body faced…
| Yarrawonga Chronicle Yarrawonga Chronicle Read the original article here
The Supreme Court has dismissed a creditor’s appeal against the termination of a company’s insolvency process, observing that it failed to understand how the order could be challenged when the proceedings had been terminated and relief had also been granted through that termination. “Termination of legal proceedings cannot be a ground for assailing the same…
In brief In a recent decision1 the Supreme Court examined whether development rights and leasehold interests held through subsidiaries and special purpose companies could be considered within the Corporate Insolvency Resolution Process (CIRP) of the holding company under the Insolvency and Bankruptcy Code, 2016 (Code). The dispute arose from the insolvency proceedings of A Co.,…
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales fell to 1,868 in May 2026, 10% lower than in April 2026 (2,087), and 16% lower than the same month in the previous year (2,231 in May 2025). The insolvencies consisted of 285 compulsory liquidations, 1,423 creditors’ voluntary…
In a recent case, the High Court has provided important clarification on the treatment of retention monies, reinforcing the statutory trust obligations under the Construction Contracts Act 2002 (CCA). Retention monies under the CCA are trust property. In Burt v Grant [2025] NZHC 2486, the High Court has held that as a consequence, retention monies…
Qld earthmoving business collapses with seven figure debt The Cairns Post Read the original article here
Industry groups are calling for urgent packaging reform and greater regulatory certainty following the voluntary administration this week of Adelaide-based recycler Recycling Plastics Australia. Waste Management and Resource Recovery Association of Australia (WMRR) Chief Executive Officer Gayle Sloan said the situation should serve as a warning to governments about the pressures facing Australian recyclers. “The…