Reid & Taylor India (RTIL) has been admitted for insolvency and bankruptcy proceedings at the National Company Law Tribunal (NCLT) bench here. The Corporate Insolvency Resolution Process has begun and the 180-day deadline for a resolution plan set in. Edelweiss Asset Reconstruction Company (ARC) and Finquest Financial Solutions had filed…
Back in Sydney Erica and the kids have been staying at the impressive Vaucluse mansion Coolong, the beachfront residence of expats Ivan and Marina Ritossa, which set a record back in 2008 when they bought it for a reported $44 million from the late Allco founder David Coe. Indigo and Jackson Packer fom a private…
Dubbo Regional Council has defended its original decision to appoint Shearer Contracting Pty Ltd which has now been placed in voluntary administration to deliver the Boundary Road extension. Work on the project was suspended this week, after Mitchell Griffiths and Chad Rapsey, of Rapsey Griffiths Insolvency and Advisory, were appointed joint and several administrators of Shearer Contracting…
Los Angeles, her “roots”. Back in Sydney Erica and the kids have been staying at the impressive Vaucluse mansion Coolong, the beachfront residence of expats Ivan and Marina Ritossa, which set a record back in 2008 when they bought it for a reported $44 million from the late Allco founder David Coe. Previous tenants of…
SALIM Mehajer is wasting now time getting back on the social media wagon after his release from prison. The controversial former Auburn deputy mayor posted the image of himself with the caption Back to busy-ness (sic) … WASTING NO TIME on Thursday night to his Instagram story. He could be seen in the picture smiling,…
Share price of Binani Industries gained 8 percent in the early trade on Friday as company filed an application to terminate CIRP of its subsidiary. The company filed an application for termination of the company insolvency and resolution proceedings (CIRP) of its subsidiary Binani Cement. Binani Industries has received an offer from the Aditya Birla…
On April 4, Latvia’s anti-graft squad, the Corruption Prevention and Combating Bureau (KNAB), searched the offices of the public road maintenance company Latvijas Autocelu Uzturetajs. Raitis Nepors, a board member at the company, confirmed to LTV that the company was searched but did not reveal which offices were searched and what the authorities seized. Anastasija Udalova,…
Long established family company, Shearer Contracting Pty Ltd, has been placed in voluntary administration which may see up to 50 local jobs lost. Many of these are long-term employees that have worked with the company for three decades. Rapsey Griffiths Insolvency and Advisory have been appointed administrators of the company. Partner, Chad Rapsey, says they have commenced an…
While home buyers have welcomed the report of the Insolvency Law Committee that property buyers be treated as financial creditors, they feel that to ensure buyers get priority in the liquidation process, they should be classified as both secured and financial creditor. The 14-member panel has proposed to the government that if home buyers are…
Directors of companies facing the insolvency process cannot go unscathed while the companies they ran are hauled over the coals. For the first time ever, insolvency regulator IBBI has warned of action under the Insolvency and Bankruptcy Code (IBC) against those directors who failed to discharge their duties in the interest of the creditors during…