A bankrupt cooperative from Alicante and its subsidiary owe its 175 workers 4,000,000 – FreshPlaza.com

According to the reports sent to the commercial court number 2 of Alicante by the bankruptcy administrator of the Agricultural Cooperative of Altea, which started its insolvency procedures on February 13, 2020, and was declared bankrupt on February 11, 2021, the cooperative and its Villaranja subsidiary have debt amounting to 28 million euro, 4 million…

No surge in business failures at height of the pandemic, but that’s changing – Crikey

Tweaks to insolvency rules during the COVID-19 pandemic produced a strange phenomenon a recession without soaring company wind-up numbers. That’s all set to change. (Image: AAP/Private Media) Among the many good pieces of policy introduced during the pandemic was a very accommodating set of rules around insolvencies. It was very difficult indeed for a company…

Insolvency outfit Mackay Goodwin expands into corporate advisory – Consultancy.com.au

18 April 2021 Consultancy.com.au 2 min. read Insolvency and restructuring consultancy Mackay Goodwin has broadened its service portfolio to include corporate advisory, with Covid-19 having presented unique challenges for clients. Mackay Goodwins expansion into corporate advisory services is overseen by Anthony Lucic and Michael Bogue, who have both been brought in to lead the new…

Jaypee Infratech insolvency: Lenders ask NBCC, Suraksha to improve bid – Business Standard

Earlier this month, NBCC and Mumbai-based Suraksha group submitted their revised bids to acquire Jaypee Infratech through an insolvency process TopicsJaypee Infratech|Jaypee Infratech bid Jaypee Infratech’s lenders have asked state-owned NBCC Ltd and Suraksha group to improve their bid and offer more land parcels under an insolvency process to acquire debt-laden realty firm. Earlier this…

Debt-strapped Greensill should be liquidated, Grant Thornton says – The Australian Financial Review

Grant Thornton also said that if the company goes into liquidation, the liquidators would investigate several transactions between Greensill Capital Pty Ltd – the Australian parent company – and the Greensill family and farming companies, as well as several director-related transactions. Our findings in relation to unreasonable director related transactions, while only preliminary, have identified…