Virgin Australia may have been trading while insolvent in the early days of the coronavirus pandemic’s impact on airline travel, according to a report by Virgin’s administrator Deloitte. “Our preliminary analysis indicates the group was insolvent from 22 March 2020 and possibly as early as 18 March 2020,” Deloitte said in report to creditors ahead…
Five bedroom property in The Little Boltons was home to the last Maharaja of Lahore Sir Duleep Singhs son PrinceVictor Duleep Singh married Lady Anne Coventry, the daughter of the 9th Earl of Coventry, in 1898 Caused furore in London high society as it was first time an Indian royal had married an English noblewoman…
Sports Direct parent company Frasers Group has bought the gyms business of DW Sports out of administration for 37 million and will rebrand them as Everlast Fitness Club. The company – full name Dave Whelan Sports – was declared insolvent in August and BDO appointed to manage its assets. It had DW Fitness premises in…
Mall owner CBL & Associates (NYSE:CBL) has been struggling for years. As a result, it has been teetering on the brink of bankruptcy ever since the COVID-19 pandemic hit the United States. Last Wednesday, the REIT acknowledged the inevitable. CBL issued a press release stating that it had entered a restructuring support agreement with a…
6:49 PM IST Roberto d’Aversa has left Parma after the club finished 11 in the league last season.Photo by Enrico Locci/Getty Images Parma have dismissed coach Roberto d’Aversa three weeks after the end of the season, the Serie A club announced on Sunday. D’Aversa, 45, took charge of Parma when they were in the third-tier…
A record 46 companies with at least $US1 billion in assets have filed for Chapter 11 bankruptcy this year, the Financial Times reported, citing BankruptcyData.com. The previous record was 38 billion-dollar businesses during the same period of 2009. JCPenney, Brooks Brothers, and Chesapeake Energy are among the big companies that have filed for bankruptcy this…
Student travel agency STA Travel has filed for insolvency, becoming the latest tourism business to fall victim to the global COVID-19 pandemic. The iconic youth-focused travel advisor chain went into external administration on Thursday, with Consumer Protection today issuing advice for customers who were still owed money by STA Travel. At its height STA Travel,…
Anil Ambani will approach National Company Law Appellate Tribunal (NCLAT) against an order by the Mumbai bench of National Company Law Tribunal (NCLT) allowing bankruptcy proceedings against him. A spokesperson on Ambani’s behalf assured that the NCLT order will have no bearing on the operations of companies under the Reliance Group – Reliance Infrastructure, Reliance…
Written by Aashish Aryan , Edited by Explained Desk | New Delhi | Published: August 21, 2020 4:40:13 pm Anil Ambani during a media interaction in Mumbai. File/Express Photo by Ganesh Shirsekar The Mumbai bench of the National Company Law Tribunal (NCLT) has allowed the initiation of insolvency proceedings against Anil Ambani after two companies…
Director Peter Lucas said it was crucial support for insolvency experts was not abandoned before a wave of company failures hit the economy. “There will inevitably be company failures and if we are not there then there is going to be serious problems,” Mr Lucas said. “It’s important that insolvency firms stick around for as…