Cash flow problems are a key reason why companies go bust, said liquidators and analysts. This means they do not have enough money coming in to cover what they owe, even if they have assets on paper. Businesses also dealt with rising interest rates between 2022 and 2024, with rates beginning to ease only earlier…
Professional Australian valuers and auctioneers Hymans has revealed it will auction more than 40 prime movers and trailers from Mark’s Linehaul Pty Ltd after the operator entered liquidation. On May 29, the operator appointed administrators, with a notice of deemed special resolution being issued on July 7 to wind up the company. Now, Hymans has…
Revealed: Government courts Virgin as Rex sale drags on The Australian Read the original article here
A company paid more than €720,000 twice by the Health Service Executive (HSE) on foot of the same invoice is now in liquidation. The HSE said it was “engaged with the liquidator to recover and resolve this overpayment, among other matters”. So far the overpayment has not been recouped. The HSE said that, at the…
To use this website, cookies must be enabled in your browser. 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 making requests to websites without cookies that had previously been set. This appears to be a…
Popular fast food chain faces Chapter 7 bankruptcy liquidation TheStreet Read the original article here
KFC rival nears Chapter 7 bankruptcy, closes stores, liquidation looms MSN Read the original article here
BluSmart suspended operations in April after India’s market regulator barred co-founder Anmol Jaggi from the securities market. Indian electric cab firm BluSmart has entered insolvency, an order from a company law tribunal showed, amid mounting corporate governance issues after a regulatory probe alleged its co-founder diverted funds meant for vehicle leases. BluSmart suspended operations in…
(MENAFN– Live Mint) The wheels have come off the fraud-hit BluSmart Mobility, once hailed as a pioneer in India’s electric ride-hailing startup, as the company has been formally admitted into insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad. The move follows payment defaults totalling over ₹1.28 crore and adds BluSmart to a growing…
The National Company Law Tribunal (NCLT) at Ahmedabad has admitted BluSmart Mobility Limited into the Corporate Insolvency Resolution Process (CIRP) following a petition by Catalyst Trusteeship Limited over unpaid financial obligations totalling ₹1.3 crore. Read the original article here