The fate of allegedly fraudulent Melbourne pharmacy software start-up StrongRoom AI will be decided in a high-stakes creditors’ meeting on Thursday with administrators opposing the sale of the business to an early investor, after uncovering irregularities in the company’s books. Administrators, HLB Mann Judd, favour a liquidation and asset sale to Brisbane-based pharmacy entrepreneur Joe…
Jacob Panons BBC News, South East Getty Images Rob Cross won the PDC World Darts Championship in 2018 Former world darts champion Rob Cross has been disqualified from acting as a company director for five years after his business failed to pay more than £450,000 in tax. The Insolvency Service said it also found the…
Former world darts champion banned as company director over tax payments TheBusinessDesk.com Read the original article here
Toys R Us has entered voluntary administration in Australia for the second time in five years. The ASX-listed company made the announcement in a formal statement lodged with the Australian Securities Exchange. The company confirmed it has appointed administrators to restructure its operations. The administrators, Luke Andrews and Duncan Clubb from BDO Business Restructuring, have…
Hazel Lamont, 74, and her daughter Nicola Murray, 54, were directors of Scotparts UK Ltd, a Glasgow-based machinery parts firm which went into liquidation with debts of £900k. Scotparts director Hazel Lamont and her daughter have been banned from running companies A Scots businesswoman paid her daughter nearly £200,000 of company cash after their firm…
Pharmaceutical start-up StrongRoom AI will be liquidated and its assets sold for scraps after creditors voted against a deed of company arrangement that would have allowed it to keep operating. Administrators HLB Mann Judd had recommended creditors vote to liquidate the company and sell its assets to pharmaceutical entrepreneur Joe Zhou for $3 million. However,…
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) held that when the admitted dues have been repaid by the debtor there is no point in continuing the Corporate Insolvency Resolution Process. Background Facts: M/s Rajasthan Land…
Second rescue blow for famed Perth luxury builder The West Australian Read the original article here
R-Infra gets breather as NCLAT suspends insolvency proceedings after full payment to DSPPL MSN Read the original article here
The National Company Law Tribunal Bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) dismissed a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“the code”) stating that when the loan is granted without any interest it should have a consideration of time value of Money. Background…