The National Company Law Tribunal (NCLT) has declared Ansal API bankrupt, putting thousands of homebuyers and investors in a crisis. The tribunal has also appointed an Interim Resolution Professional (IRP) to handle the company’s projects, raising concerns about whether investors will ever get their money back. What Went Wrong? Ansal API had undertaken major real…
Coatbridge-based decorating firm Andrew P Orr (Decorators) Limited has ceased trading. Gordon McIntyre and George Lafferty, insolvency practitioners with McLaren Insolvency, have been appointed joint provisional liquidators of the company, which traded as Orr Decorators. Founded 40 years ago, Orr Decorators had a turnover of nearly £3 million and employed 32 staff. The business provided…
Nicole Tyson, counsel for Kingston’s trustee in bankruptcy, told the Federal Court last week that Kingston had further bank accounts and, potentially, assets in Hong Kong that required investigations to learn more about his financial position. The court heard the $151 million provided to the Sargon-associated company by the Chinese financier appeared to have been…
Shah Rukh Khan Goes Bankrupt? NEW VIRAL Video Of Astrologer Claims REAL Reason Of Actor Moving Out Of Mannat Filmibeat Read the original article here
Andrew P Orr (Decorators), founded 40 years ago and based in Coatbridge in Lanarkshire, had a turnover of nearly £3 million and employed 32 staff. The business, which the joint provisional liquidators noted provided a wide range of painting and decorating and related services including expertise in environmentally friendly coatings and finishes, experienced “significant cashflow…
BENGALURU — In a move that could intensify one of India’s most closely watched corporate battles, Byju’s has filed an FIR accusing senior partners at Ernst & Young and members of a resolution team of conspiring against the company. The complaint, made public via a social media post by founder Byju Raveendran, names resolution professionals…
Bill Ferg (Vasilios Fergadiotis), owner of Melbourne’s Lobster Cave restaurant, has submitted a last-minute proposal to creditors to avoid bankruptcy, aiming to settle over $7 million in debts through a personal insolvency agreement. The offer was made just two days before a scheduled Federal Court hearing. If rejected, Ferg could be declared bankrupt and forced…
A major sanitary wholesaler in Germany will be ceasing its business operations. The company’s 230 employees received termination notices at the end of August. The company, Sanitop-Wingenroth, once a flagship business in the region, faced financial difficulties due to unmet sales expectations…
Singapore – Singapore’s policymakers are wrapping up the public feedback process on proposed changes to its insolvency law, part of a broader effort to enhance its appeal as a hub for corporate restructuring in Asia. A key change would broaden a provision in restructuring plans, known as cross-class cramdowns, to prevent shareholders from dissenting, according…
Loddenkemper, a furniture brand from Oelde, Germany, has declared insolvency on November 20, 2024. The company, which has been active in the furniture industry since 1889, has attempted multiple restructuring efforts before eventually needing to initiate standard bankruptcy proceedings at the Osnabrück…