Liverpool-based business lobbying and networking group Downtown in Business steps up campaign for a crackdown on serial ‘phoenix companies’. Tony McDonough reports Downtown chief executive Frank McKenna. Picture by Adam Kenrick Downtown in Business (DIB) is calling on the Government to take tough action against serial ‘phoenix companies’ who it claims are exploiting current…
There was more. The filing describes a claim on the Yorkewood Apartments project that the surety says it settled for $120,000, plus claims on the “CMSC – North Tower Addition and Renovation” project, which the complaint calls the Johns Hopkins Project, resolved for $146,331 and $65,846.36. Frankenmuth also says it ran up $244,384.21 in attorneys’ and consultants’…
The National Company Law Tribunal (NCLT) Chandigarh Bench has admitted an insolvency petition against Primezone Developers Private Limited, holding that homebuyers qualify as financial creditors under the Insolvency and Bankruptcy Code, 2016 (IBC) and that the developer had committed default in respect of claims aggregating to ₹6.76 crore. The petition was filed jointly by 33…
The National Company Law Tribunal (NCLT) in Mumbai has admitted an insolvency plea filed by One97 Communications Ltd, which operates Paytm, against gaming company Fabzen Technologies Pvt Ltd over unpaid dues of more than ₹3.41 crore for digital advertising services. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that One97…
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REVEALED: Latest business liquidations in Brisbane The Courier Mail Read the original article here
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540 W 65th Avenue and 8120-8168 Lord Street in Vancouver. (CBRE) Vancouver-based real estate developer Landmark Premiere Properties, which continues to be in the news due to owner Helen Chan Sun being jailed and declared bankrupt, is facing a new insolvency proceeding initiated just this week, according to filings in the Supreme Court of British…
A company trapped in prolonged insolvency proceedings steadily loses customers, employees, contracts, suppliers and market relevance (Photo | AFP) The Insolvency and Bankruptcy Code, now in its 10th year, is perhaps India’s most consequential market reform for resolving corporate distress and reallocating resources from failed enterprises to more efficient hands. Since its inception, the code has…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…