Queensland developer Con Bassili is again under financial pressure, with multiple companies tied to him and long-time business partner George Cheihk now in administration or liquidation, carrying debts of more than $40 million. Bassili, 55, a former bankrupt, is a shareholder in Queensland Developments Payroll, which went into voluntary administration last year owing $5.4 million.…
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Subsea Services Limited is listed as a company that deals with “engineering related scientific and technical consulting activities.” But a resolution to voluntarily wind up the firm was passed during a meeting at the company’s office on 20 Bracken Road, near Duloch Park. Steven Wright, Licensed Insolvency Practitioners were appointed as liquidators on July 15. Liquidation is the…
Entertainment company mm2 Asia on Sept 1 announced that Cathay Cineplexes will undergo voluntary liquidation. The struggling cinema chain, which owes money to the landlords of several of its outlets, is unable to continue operating as a going concern, its parent company said. “Cathay Cineplexes had attempted to negotiate amicable resolutions with the various creditors,…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
Cathay Cineplexes to undergo creditors’ voluntary liquidation amid mounting debts The Online Citizen Read the original article here
REVEALED: Latest business liquidations in Brisbane The Courier Mail Read the original article here
Former employees and entities rendering services to a company that is undergoing insolvency process will be obligated to share information with the resolution professionals, as per the Insolvency and Bankruptcy Code (IBC) amendments approved by Parliament recently. Earlier, RPs could seek information only from the existing “personnel” during the corporate insolvency resolution process (CIRP). But…
[SINGAPORE] Struggling cinema chain Cathay Cineplexes has ceased operations as of Monday (Sep 1), shortly after its voluntary liquidation was announced earlier in the day. The cinema chain, which owes money to landlords of several of its outlets, will undergo voluntary liquidation, said its parent company mm2 Asia. “Cathay Cineplexes had attempted to negotiate amicable…
SINGAPORE: Cathay Cineplexes is set to undergo creditors’ voluntary liquidation amid its financial woes, operator mm2 Asia announced on Monday (Sep 1). The board has resolved that it is no longer feasible for Cathay Cineplexes to continue operating, given its financial position and the absence of restructuring options, among other things, mm2 Asia said in a filing…