In their initial report, the liquidators – Stephanie Jeffreys and Adele Hicks (both of Grant Thornton) say the release of OpenAI’s ChatGPT “froze” Ambit’s business. Warren said many customers now thought, correctly or not, that they could get equivalent products for free or cheaper – the same phenomenon that led to the collapse earlier this…
Singapore: United Ocean Ship Management Pte Ltd to be wound up voluntarily Manifold Times Read the original article here
On the Border files Chapter 7 weeks after rescue thestreet.com Read the original article here
On Tuesday Virgin Australia went into external administration after being crushed by a $4.8bn debt mountain and failing to secure a federal government bailout. The decision affects about 10,000 staff and 6,000 contractors who work for the airline, along with 4,000 suppliers and customers who have bought tickets worth more than $1bn but haven’t yet…
Vikram Solar Limited’s corporate insolvency process has begun following an NCLT order admitting a petition by Isitva Steels Private Limited for ₹9.44 crore in unpaid dues. Management control shifts to an Interim Resolution Professional. Vikram Solar Limited faces a Corporate Insolvency Resolution Process (CIRP) after the National Company Law Tribunal (NCLT), Kolkata Bench, admitted an…
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In Habrok (Dalgaranga) Pty Ltd v Gascoyne Resources Ltd [2020] FCA 1395 (29 September 2020) the plaintiff, Habrok, sought orders under ss445D and 447A of the Corporations Act 2001 (Cth) (Act) terminating a deed of company arrangement (DOCA) executed by the first to seventh defendants (GCY Group) and the eighth defendant (administrators/FTI). Background After the…
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The Western Cape High Court has placed Polanocol (Pty) Ltd under final liquidation after finding the company had contravened the Share Block Control Act. About 380 investors, who collectively invested more than R17 million, face losing their investment. Ashraf Hendricks/GroundUp Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your…