Timaru plumbing and building contractor GFY Ltd has gone into liquidation by a court order owing Inland Revenue (IRD) about $915,000. The company folded because of a failure to provide for taxation. The official assignee from the Insolvency and Trustee Service was appointed as liquidator on June 12 after the IRD initiated proceedings in the…
Elme stock up after announcement of voluntary liquidation plan, asset sale MSN Read the original article here
Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator, today announced that its Board of Trustees has completed its previously announced formal evaluation of strategic alternatives to maximize shareholder value. After an extensive evaluation of strategic alternatives available, the Company has entered into a Purchase and Sale Agreement with an affiliate of Cortland Partners,…
Restaurateur linked to 11 liquidations now owes the Govt $2m Newsroom Read the original article here
Builder who dragged out court case ordered to pay $285,000 costs Stuff Read the original article here
Auctioneer hired to handle assets in tree surgery firm’s liquidation Insider Media Ltd Read the original article here
Elme to Seek Shareholder Approval for Cortland Portfolio Transaction and Plan of Sale and Liquidation Intends to Make Total Upfront Distributions to Shareholders of Approximately $14.68 to $15.00 per Share assuming the Consummation of the Cortland Portfolio Transaction Company’s Current Estimate of Additional Liquidating Distributions to Shareholders is Approximately $2.90 to $3.50 per Share in the Aggregate…
The Insolvency and Bankruptcy Board of India (IBBI) has imposed a financial penalty on insolvency professional Mr. Pankaj Ramandas Majithia for multiple lapses during his tenure as the Resolution Professional (RP) in the insolvency of Shree Ram Urban Infrastructure Pvt. Ltd. The action stems from his failure to safeguard the corporate debtor’s assets and his…
The National Company Law Appellate Tribunal (NCLAT), Principal Bench in New Delhi, has dismissed a plea filed by the SREI Multiple Asset Investment Trust (SMAIT), which sought to be impleaded in an ongoing insolvency appeal tied to a hefty ₹1300 crore CorporateInsolvency Resolution Process (CIRP) cost dispute. The Trust, which claimed to have held a…
The recent Supreme Court ruling in JSW Steel Ltd. v. Pratishtha Thakur Haritwal & Ors. has sent shockwaves through India’s corporate and legal landscapes. The Court’s decision to quash demand notices issued against JSW Steel by government authorities marks a pivotal moment in enforcing the finality of insolvency resolution plans under the Insolvency and Bankruptcy…