The Supreme Court on Tuesday (April 29) upheld the delivery of a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) to the corporate debtor’s Key Managerial Personnel (KMP), stating that the delivery of the notice to the KMP substantially complies with the requirement of Section 8 of IBC. Setting aside…
Another beloved brewery goes bust and files for Chapter 7 liquidation MSN Read the original article here
Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds, said: “The slight month-on-month reduction in corporate insolvency numbers…
The beneficiaries include law firm McCann Fitzgerald, financial services firm Grant Thornton and the liquidator Damien Harper. The wind-up of Quinn Insurance, which was once owned by ex-billionaire businessman Seán Quinn, was ordered by the High Court in 2023. It had been placed into administration by the government in 2010 at a cost of €1bn…
Vinyl Me, Please (VMP) appears to have entered liquidation as reports of the company ignoring customers and not fulfilling paid-for orders pile up. A new report by the Denver Post details several customers who’ve filed complaints against the Denver-based vinyl record subscription service for allegedly not sending out paid orders, ignoring inquires and requests for…
Bluejay Limited, the parent company behind Betway Kenya, will be required to pay about KSh 5 billion in outstanding taxes after the Tax Tribunal upheld various assessments by the Kenya Revenue Authority (KRA). The order comes at a time when the company has filed a petition for liquidation at the Milimani Law Courts Commercial and…
Patchwork Foods in Ruthin was founded in 1982 by Margaret Carter in her kitchen, and went on to become famous for pates and other specialities. An award-winning business for much of its four decades of trading, Margaret, son Rufus and business partner Jen Whitham helped it achieve a £2 million annual turnover. The trio left the business as…
Weinberg Campus liquidation to include 2,200 artworks amid $25M property listing The Business Journals Read the original article here
Albins, which is the largest high-performance transmission manufacturer in the southern hemisphere, specialises in the design and manufacture of drivetrain components from individual gears, axles, drive flanges and ring and pinions through to complete unit sequential shift transmissions. Read the original article here
Asia Pacific’s leading independent spirits distributor Proof & Company has placed its Australian business into voluntary administration, citing “a local economic downturn” and a “changing” Australian spirits industry landscape. The administration process applies solely to its Australian subsidiary Sa’Pere Drinks, which is currently trading as Proof & Company Australia and includes Australian brands such as…