BREAKING: Christchurch painting firm collapses owing $2.6 million to staff, IRD and creditors

A Christchurch-based painting and maintenance company has gone into liquidation, with debts totalling more than $2.6 million. Phil Clarke & Son Limited was placed into liquidation on 8 July 2025 following a special resolution by the company’s shareholder and director Daniel Clarke. The appointed liquidator is Brenton Hunt of Insolvency Matters Limited. According to the…

RPs now need to inform creditors about dubious deals before resolution process – Banking & Finance News

The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for the resolution professionals (RPs) to formally inform the committee of creditors (CoC) about any fraudulent or avoidance transactions carried out by a company prior to its bankruptcy. The amendments are aimed at improving the transparency, and the treatment of “avoidance transactions” in…