Opposition Leader David Crisafulli ran a training company liquidators believed may have been trading insolvent

Bankruptcy

David Crisafulli, the politician likely to become Queensland’s next premier, ran a training organisation liquidators believed may have been trading insolvent from the day he started as a director. The Melbourne-based company, Southern Edge Training, was a registered training organisation that offered courses from health administration to forklift operating, and received government funding. It collapsed…

NCLAT Stays Insolvency Proceedings Against Coffee Day Enterprises Till Next Date Of Hearing

Bankruptcy

NCLAT Stays Insolvency Proceedings Against Coffee Day Enterprises Till Next Date Of Hearing | Image Source: Wikipedia (Representative) The National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), which operates the Cafe Coffee Day chain, till the next date of hearing. The Chennai-based bench of the…

‘I Wanna Marry Harry’ Outfit Shuts Production Arm

Bankruptcy

EXCLUSIVE: Zig Zag, the 25-year-old UK producer behind shows including Fox‘s I Wanna Marry Harry, is shutting its production arm after being hit by the unscripted commissioning drought. Zig Zag is putting Zig Zag Productions Limited into insolvency as part of a financial restructuring that has resulted in six employees being made redundant. The company,…

Australian companies caught in insolvency storm

Bankruptcy

Data from the Australian Securities and Investments Commission (ASIC) revealed a record 11,049 corporate collapses in 2023–24: Persistent inflation, high interest rates, and the Australian Taxation Office pursuing tax debts were blamed for the 40% increase in corporate insolvencies in 2023–24. “The usual suspects of inflation, interest rates and sentiment are influencing insolvencies”, Ashurst restructuring…

India’s Go First wins more time to resolve insolvency

Bankruptcy

India’s specialist bankruptcy court, the National Company Law Tribunal (NCLT), has granted the administrator of Go First (Mumbai International) another 60 days to complete the carrier’s corporate insolvency resolution process. The court granted the extension, which now runs until June 3, during an April 8 hearing. Go First’s administrator, known locally as a resolution professional,…

How Byju’s went from startup star to facing insolvency

Bankruptcy

Here is an overview of Byju’s and its troubles: WHAT TRIGGERED THE INSOLVENCY? The Board of Control for Cricket in India (BCCI) last year asked a tribunal to initiate insolvency proceedings against Byju’s for defaulting on $19 million of dues. The dispute is over payments related to sponsorship rights for the Indian cricket team’s jerseys. The two sides had settled the matter, with Byju’s agreeing to pay…