Christchurch-registered renewable fuel company NXT Fuels has folded owing nearly $3.5 million after shareholders refused to prop up another loss. The company was formed in October 2005, developing projects converting initially algae and then biomass feed stocks into bio-energy and carbon efficient products. Shareholders who had supported the company to continue operating finally had enough…
Company Insolvency Statistics, August 2024 GOV.UK Read the original article here
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The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that when a successful resolution applicant fails to obtain all necessary approvals within one year from the date of approval of the resolution plan— as mandated…
German corporate insolvencies at highest level in a decade, study shows MSN Read the original article here
Public Trust makes claims of $900m against SolarZero as liquidator updates a complex state of affairs Business Desk NZ Read the original article here
An entertainment company that toured theatre shows across Australia including Elvis: The Musical Revolution and Cruel Intentions collapsed owing $7.5 million – with one artist now lifting the lid on how unpaid entitlements “burned” the cast and “messed” with their lives. The Australian producer has also been criticised for already launching a new company that…
An Otago and Canterbury firewood business which was ordered into liquidation by Dunedin’s High Court has left creditors out of pocket more than $500,000. Needmor Firewood Ltd was placed into liquidation in September 2022 by order of the High Court of Dunedin, on the petition of the Inland Revenue Department (IRD). In their final report,…
IH Sydney Training Services (IH), a major provider of international education, has been placed into voluntary administration. This news, while shocking, was expected. It wasn’t known who, but many in the sector believed the current policy environment was set to break providers. IH appears to be the first major provider in this situation but may…
Shardul Amarchand Mangaldas & Co. advised the Committee of Creditors (CoC) of Vadraj Cement Limited (VCL), led by Punjab National Bank, in its corporate insolvency resolution process, culminating in the successful implementation of an INR 1,800 crore resolution plan for VCL. The resolution plan was fully implemented on June 20, 2025, with the payouts released…