Section 31(1) of the IBC, as clarified by the Insolvency and Bankruptcy Code (Amendment) Act, 2019, provides that once a resolution plan is approved by the Adjudicating Authority, it is binding on all stakeholders, including creditors, employees, government authorities, and local bodies. The intent is to ensure that the SRA takes over the corporate debtor…
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Liquidators have put Ardgour Valley Fruit near Tarras on the market with a deadline sale of October 20. Ross and Sharon Kirk collaborated with farmers Bruce and Linda Jolly in 2020 as joint founders of the orchard, planting a mixture of apricots and cherries on the 48.03ha site. The Kirk’s Hortinvest Holdings company managed the…
The other companies, owned by the same shareholders and directors, are also in liquidation, taking the full tally to $20.5m. The Amaia Apartments are at 48 Esmonde Road, Takapuna. Directors and shareholders Xu Xin and Wei Liu appointed Khov Jones on October 3. Some of New Zealand’s largest businesses want money from KBS Construction, which…