Rental-Car Company Hertz Files for Bankruptcy Coronavirus contributed to woes; company enters chapter 11 with no deal in place from creditors Hertz Global Holdings Inc., one of the nation’s largest car-rental companies, filed for bankruptcy protection Friday, saddled with about $19 billion in debt and nearly 700,000 vehicles that have been largely idled because of…
An appellate tribunal upheld NCLT order prohibiting appointment of a former bank official as a resolution professional (RP) of a bankrupt company due to the possibility of bias, in a judgement that experts say could have wide ramifications on ongoing and future corporate insolvency resolution process. The National Company Law Appellate Tribunal (NCLAT) upheld an…
news, local-news, The fallout from the financial collapse of a contractor which carried out early works on the Lavington Sportsground redevelopment is not expected to be finalised until the second half of 2020. Depan Group was appointed to complete stage one works, but went into voluntary liquidation more than a year ago. The liquidator has…
A co-operative which lays claim to producing Australia’s largest pool of certified organic has gone into voluntary administration. Organic Dairy Farmers of Australia Limited (ODFA) produces the True Organic brand of milk, butter and cream. It also supplies milk to FiveAM yoghurt, Pure Organic milk and Lemnos cheese. Worrells Solvency and Forensic Accountants were appointed…
By Wayne Robinson | 22 May 2020 The Melbourne print industry is reeling this afternoon as high-profile print business Bambra Press goes into voluntary administration. The business is trading on, withadministrators looking to sell it as a going concern. Restructure necessary: John Wanless, Bambra Press A heartfelt owner John Wanless widely respected as one of…
On Wednesday 20 May, the Government published the highly anticipated Corporate Insolvency and Governance Bill (the CIGB). It legislates for the landmark changes to the UKs corporate insolvency regime and the temporary suspension of the statutory provisions on wrongful trading announced by the Business Secretary on 28 March 2020 (see Weils European Restructuring Watch update…
(Bloomberg) — Brazil loosened protocols for the use of chloroquine after another record day for infections, while President Donald Trump is considering a ban on Brazilians traveling to the U.S. Russia added the fewest cases since the start of the month and recoveries outpaced new infections for the first time. Chinese doctors are seeing the…
THE administrator of a land development company headed by Toowoomba businessman Mark Peart has recommended the business be placed in liquidation. Homestead Highfields was placed in voluntary administration by Mr Peart on April 21, owing eight unsecured creditors $526,000. The directors of the company – Mr Peart, his wife Fiona, and Grant Allsopp, are proposing…
THE administrator of a land development company headed by Toowoomba businessman Mark Peart has recommended the business be placed in liquidation. Homestead Highfields was placed in voluntary administration by Mr Peart on April 21, owing eight unsecured creditors $526,000. The directors of the company – Mr Peart, his wife Fiona, and Grant Allsopp, are proposing…
THE administrator of a land development company headed by Toowoomba businessman Mark Peart has recommended the business be placed in liquidation. Homestead Highfields was placed in voluntary administration by Mr Peart on April 21, owing eight unsecured creditors $526,000. The directors of the company – Mr Peart, his wife Fiona, and Grant Allsopp, are proposing…