Infinexa appointed judicial administrator for three companies in the Grande Gloria Production Group following insolvency filing

Bankruptcy

Infinexa, a Romanian entrepreneurial company specializing in the restructuring and financing of distressed businesses, with approximately €170 million in assets under management, has been appointed by the Galați Court as the judicial administrator of Grande Gloria Production S.A., Passage Food S.R.L., and Gloria Market S.R.L.—three companies within the Grande Gloria Production Group, headquartered in Galați.…

Coatbridge decorating firm Orr closes after 40 years

Bankruptcy

Coatbridge-based decorating firm Andrew P Orr (Decorators) Limited has ceased trading. Gordon McIntyre and George Lafferty, insolvency practitioners with McLaren Insolvency, have been appointed joint provisional liquidators of the company, which traded as Orr Decorators. Founded 40 years ago, Orr Decorators had a turnover of nearly £3 million and employed 32 staff. The business provided…

Former Sargon Capital founder Phillip Kingston sold ute, golf membership before being declared bankrupt, court documents show

Bankruptcy

Nicole Tyson, counsel for Kingston’s trustee in bankruptcy, told the Federal Court last week that Kingston had further bank accounts and, potentially, assets in Hong Kong that required investigations to learn more about his financial position. The court heard the $151 million provided to the Sargon-associated company by the Chinese financier appeared to have been…

All staff made redundant as Scottish company collapses

Bankruptcy

Andrew P Orr (Decorators), founded 40 years ago and based in Coatbridge in Lanarkshire, had a turnover of nearly £3 million and employed 32 staff.  The business, which the joint provisional liquidators noted provided a wide range of painting and decorating and related services including expertise in environmentally friendly coatings and finishes, experienced “significant cashflow…