Preferential creditors are owed $518,531, which includes employee entitlements of $365,278 and $153,253 owing to Inland Revenue. Unsecured creditors – which includes trade creditors, customers with vouchers unable to be redeemed and merchants who honoured GrabOne vouchers but have not been paid – are owed $3.8m. The company also has a deferred tax liability of…
Insolvency Processes As expected and in line in previous years, Creditors Voluntary Liquidations (CVLs) continue to account for the majority of corporate insolvencies, with 393 CVL’s recorded in the first 9 months of 2025 – 64% of overall 2025 insolvencies so far. This represents a 22% decrease on the same period in 2024. The reduction…
Emma Widdowson – Chair of R3 in Scotland New official statistics published by Accountant in Bankruptcy (AiB) for the second quarter of 2025 show a decrease in both corporate and personal insolvencies in Scotland. However, restructuring and insolvency body R3 has warned that the headline figures mask rising financial distress for businesses and individuals amid…
REVEALED: Latest business liquidations in Whitehorse Herald Sun Read the original article here
The National Company Law Tribunal (NCLT), Mumbai Bench, has approved Reliance Retail Ventures Limited (RRVL) as the successful bidder for Future Supply Chain Solutions Limited (FSCSL), with a resolution plan amounting to approximately Rs 171.39 crore. This order brings to a close a corporate insolvency resolution process (CIRP) that lasted over two and a half years.…
An insurance company, which has insured several New York hospitals and charities, has filed for bankruptcy and is closing its practice after being overwhelmed by lawsuits related to that state’s Child Victims Act (CVA). Bermuda-based Northeast Insurance Company filed for Chapter 15 bankruptcy protection in New York on Oct. 15, seeking U.S. recognition of its…
Funding during voluntary administration – right of indemnity and liens Ashurst Read the original article here
VIDEO: Rex Airlines finds a buyer after entering into voluntary administration Australian Broadcasting Corporation Read the original article here
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Manchester Pride has begun voluntary liquidation, days after the Charity Commission said it was “assessing concerns” over the charity’s finances. The news, announced in a statement on 22 October, comes after some artists and businesses reported having not been paid, with requests for payment being met with silence. Organisers of Manchester Pride cited rising costs,…