Stock image The State has been ordered to pay €2.8 million into a pension fund for workers at a chemicals firm that went out of business over 15 years ago in a landmark claim under insolvency law. Kieran Wallace, managing director of Interpath Advisory, secured the sum in a complaint against the Minister for Enterprise…
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/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za. ActionSA is deeply concerned about the shocking revelations surrounding the appointment of Jabu Mbalula as Acting Premier of the Free State. This appointment, marred by allegations…
Inflation, elevated interest rates, market disruptions drove business failures in key sectors The year 2024 was a difficult one for many B.C. businesses, with a number of insolvencies occurring in a variety of sectors. Nationally, business insolvencies for the 12‑month period ending Oct. 31 increased by 41.7 per cent year to year, according to the…
Oscar Properties faces bankruptcy application over settlement dispute Reuters.com Read the original article here
he government has maintained that publicly listed textile company PT Sri Rejeki Isman (Sritex) should remain operational despite the Supreme Court’s rejection on Wednesday of an appeal from the firm to avoid bankruptcy. The Supreme Court decision automatically upheld the Semarang Commercial Court’s verdict to declare the company bankrupt on Oct. 23. On Thursday, the…
The South Australian government says it has sought advice from insolvency experts about the situation at the Whyalla steelworks — and has acknowledged the possibility that the site’s owner, which has fallen behind on its royalty payments, could go “into administration”. Treasurer Stephen Mullighan told state parliament on Tuesday that GFG Alliance was “in arrears”,…
NEW DELHI : The Supreme Court on Friday upheld the claims, amounting to more than ₹10,952 crore, of four indirect creditors of Reliance Infratel Ltd, the tower and fibre business of Anil Ambani’s telecom company Reliance Communications Ltd (RCom). Reliance Infratel’s total debt exceeds ₹41,055 crore. In 2022, the National Company Law Appellate Tribunal (NCLAT)…
The valuation of Indian real estate sector has witnessed a surge like none other. To wishful buyers, the sector still reeks of repulsive practices. Application of legal conventions such as RERA (Real Estate Regulation Act) and subsequently Insolvency and Bankruptcy code to tackle defaulting realtors have been some assurances from lawmakers. In the words of…
While there are many challenges that come with building a house, it probably can’t get much worse than hearing your builder has gone bankrupt and that work to your home has stopped, effective immediately. The so-called ‘profitless building boom’, triggered by the COVID pandemic, is still playing out in the Australia construction sector, seeing thousands…