Another one of California’s largest cannabis operators plans to liquidate assets after mounting financial losses and operational challenges. Gold Flora Corp., one of the state’s largest cannabis retail chains, is entering receivership after defaulting on a $11.5 million loan. The company said in a press release its seeking court protection as a result of lawsuits related to its 2023 acquisition of…
A high street fashion brand has gone bust after closing 35 stores earlier this month as staff are told they won’t get redundancy pay or wages. It is understood that insolvency firm Moorfields has launched a wind down of the Select Fashion after a creditors’ meeting was held last Friday to approve a voluntary liquidation. None…
Atlas 365 Group Ltd and Clyde Bars Ltd have hit financial trouble, both have a registered address at Dunnock Road in Dunfermline and both have Neville Taylor listed as sole director. In January he was banned from being a company director for nine years for his part in a scheme in which £7.6 million went…
Morarjee Textiles Continues Insolvency Resolution Efforts TipRanks Read the original article here
Introduction to Insolvency Law and Important Concepts – Introduction to Insolvency Law, important concepts, understanding insolvency, bankruptcy, liquidation, and restructuring. – Evolution of Indian Insolvency Law – Pre-IBC framework, the need for reform, and the enactment of IBC, 2016. – Key Features of IBC, 2016. Read the original article here
Himley Environmental, which operated a landfill site next to the pub, has been put into voluntary liquidation following court action over environmental breaches. At the time of the breaches, the company was controlled by Adam Taylor, who is sole director of the company which bought the Crooked House from Wolverhampton-based pub group Marston’s in 2023.…
Rosmerta Digital Services, an operational creditor of Ola Electric Technologies, has filed a plea to initiate insolvency proceedings against the wholly owned subsidiary of electric two-wheeler maker Ola Electric, over alleged payment defaults.The petition, filed before the Bengaluru bench of the National Company Law Tribunal (NCLT), claims non-payment for services rendered and seeks to initiate…
Watch Bankruptcy Trends in Focus Bloomberg.com Read the original article here
A corporate debtor may still argue pre-existing problems, particularly if they were brought up prior to the notice being given, even if they do not reply to a section 8 notice within 10 days The National Company Law Tribunal (NCLT) Mumbai has held that failure to respond to a demand notice within 10 days under…
Credit: Hush Naidoo Jade Photography via Unsplash Marketing and technology group GrowthOps Australia has gone into voluntary administration, AdNews can reveal. GrowthOps formed in late 2017 as part of an eight-way merger, acquiring AJF Partnerships, 3wks, Digital Moshi, Institute of Executive Coaching and Leadership, jtribe, KDIS, Khemistry and Voodoo Creative. A local source told AdNews 18 people in…