The Sissy-Boy chian was declared bankrupt by the court of Amsterdam on Friday. The company filed for deferment of payment earlier this month. At that time, the company had 45 of its own stores and 600 employees, NU.nl reports. The group made an attempt to become more profitable last year, by cutting costs and investing…
Corporate regulator ASIC has been appointing liquidators to abandoned companies in recent months to recover more than $400,000 in unpaid employee entitlements. Companies including NISS Technologies, Jovawill Pty Ltd, Ruschi Pty Ltd, Steel Project Services and the Surat Basin Group are now being investigated by liquidators at ASICs behest, amid concern about illegal phoenixing activity.…
The Australian Securities and Investments Commission has banned two execs of the now-defunct Uglii Group from running any company. Former Uglii Group directors Heather Knorr and Ge Zhu were disqualified by ASIC from managing corporations for four years for their roles in the insolvency of six companies within the group. Uglii Group, whose core business…
The Sports Direct boss Mike Ashley has threatened legal action to remove Debenhams administrators after his stake in the department store group was wiped out and the company put into the hands of its lenders. Debenhams listed holding company entered pre-pack administration on Tuesday, rendering shareholders investments, including Sports Directs near-30% stake, worthless. The retailers…
Shares in Senvion were in free fall Wednesday after the embattled German wind turbine maker announced it was entering a process called self-administration in a last-ditch turnaround attempt. The Hamburg-based manufacturer said the move was to safeguard an ongoing transformation program after refinancing discussions with lenders have so far not come to a positive conclusion.…
April 9 (Renewables Now) – German wind turbine maker Senvion SA (ETR:SEN) is officially entering preliminary self-administered insolvency proceedings as refinancing talks have so far provenunsuccessful. The company announced on Tuesday that Senvion GmbH has filed for self-administration proceedings to safeguard the transformation programme it launched in January. The proceedings also relate to subsidiary Senvion…
April 9 (Renewables Now) – German wind turbine maker Senvion SA (ETR:SEN) is officially entering preliminary self-administered insolvency proceedings as refinancing talks have so far provenunsuccessful. The company announced on Tuesday that Senvion GmbH has filed for self-administration proceedings to safeguard the transformation programme it launched in January. The proceedings also relate to subsidiary Senvion…
FRANKFURT (Reuters) – A German court on Tuesday approved an application for insolvency from wind turbine manufacturer Senvion, although the company said it was also continuing to look at new funding options and various potential investors had shown interest. The Hamburg-based company, which has more than a billion euros of debt, said it had applied…
(Adds details) FRANKFURT, April 9 (Reuters) – Indebted German wind turbine manufacturer Senvion said on Tuesday it was filing for insolvency but was also continuing to look at new funding options and various potential investors had shown interest. The Hamburg-based company, which has more than a billion euros of debt, said it had applied for…
In a new twist to the Reliance Communication (RCom) bankruptcy case, an appellate tribunal has said if insolvency proceedings are revived against the beleaguered telco firm, then Ericsson will have to pay back a large settlement amount it has received earlier. This observation was made by a two-judge bench, headed by Justice SJ Mukhopadhaya, of…