A Christchurch courier company owing more than $1.2 million has gone into liquidation after being placed under the control of the Official Assignee. NJ & MS Holdings Limited, trading as Point to Point, was liquidated by order of the Greymouth High Court on 30 June following an application from the Inland Revenue. The business, based…
Aussie trucking company goes bust The Australian Read the original article here
Ecovis’ report said the company was in trouble for several months prior to the liquidators’ appointment, “caused by the current economic environment, high levels of debt, and exacerbated by a complete lack of governance on the part of the director”. Ecovis said attempts to restructure the business failed, “culminating with an alleged misappropriation of a…
A trucking company in operation for more than half a century has collapsed. Picture: NCA NewsWire / David Swift An Australian trucking company has gone into liquidation after almost 60 years in business. DJK Transport entered voluntary liquidation on Friday, after a restructuring practitioner was appointed in June. The business is listed as being based…
Finance minister Nirmala Sitharaman on Tuesday introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the Lok Sabha, by including provisions related to group insolvency, cross-border cases, and a creditor-led process to expedite resolution of bankrupt companies. The Bill was later referred to the select committee. The much-awaited changes to the 2016-born Code, is…
A Christchurch courier company has buckled under financial pressure, owing creditors more than $1.2 million and leaving staff out of pocket. NJ & MS Holdings Ltd is in debt by about $586,000 to Inland Revenue (IRD) and just over $632,000 to unsecured creditors, while staff claims are nearly $35,000. The company, trading as Point to…
The Indian government has introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, in the Lok Sabha, proposing significant changes to the existing law. The Insolvency Bill is designed to reduce delays, maximize asset value for stakeholders, and enhance the overall effectiveness of the insolvency and bankruptcy framework. Key proposed changes Creditor-Initiated Insolvency Resolution Process:…
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