Category Archives: Liquidation

Directors of liquidated demolition firm banned for 17 years after ignoring winding up order – Scottish Construction Now

The directors of the now defunct Glasgow-based George Hunter (Demolishers) Limited have been disqualified for allowing the company to continue to incur liabilities despite knowing a petition to wind the company up was before the court. George Beattie (senior) signed a seven year disqualification undertaking on the 12 April 2017; Michelle Beattie signed a three years and six month disqualification…

The Resolution Of Bankruptcy Cases In Time Bound Manner And Reduced NPAs – Live Law

According to the World Bank Report of Doing Business, the insolvency resolution process in India is complex, time consuming and expensive due to presence of multiple laws. It takes an average of 4.3 years to resolve bankruptcy, which is extremely high as compared to countries like Japan, Singapore and Finland[1]. India is ranked at 136…

Demolition directors banned for 17 years after liquidation offences – Construction News

Directors George Beattie Snr and George Beattie Jnr were both disqualified from acting as company directors for seven years by order of the Glasgow Sheriffs Court, while Michelle Beattie was disqualified for three-and-a-half years following an investigation from the Insolvency Service. Glasgow-based George Hunter (Demolishers) went into liquidation on 20 April 2015 owing £1,755,782 to…

Geronimo leaps to Tapit Media’s rescue; snaps up NFC firm – AdNews

Tapit Media Nearly two years after launching in Australia mobile CX company Geronimo, led by Amobee’s former MD Matt Hunt, has acquired Tapit Media; a global tech platform enabling Near Field Communications (NFC) for marketing. Hunt says NFC technology is a major growth area in mobile marketing and the deal brings proprietary technology, data and…

New York REIT Announces Results for Second Quarter 2017 – GlobeNewswire (press release)

NEW YORK, Aug. 09, 2017 (GLOBE NEWSWIRE) — New York REIT, Inc. (NYSE:NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced today its financial results for the second quarter ended June 30, 2017. Financial Results Liquidation Basis of Accounting As a result of NYRTs shareholder approval…

NCLT greenlights bankruptcy process at Lanco Infratech – Times of India

Hyderabad: In a setback for city-based infra player Lanco Infratech, that has been saddled with a humungous debt of around Rs 43,000 crore, the National Company Law Tribunal (NCLT) has given its nod for initiating insolvency and bankruptcy proceedings against the company. Lanco Infratech on Wednesday informed the bourses that the NCLT, Hyderabad Bench, vide…

Westech Capital Bankruptcy Liquidation Approved – Bankrupt Company News (press release) (blog)

AdvertisementThe U.S. Bankruptcy Court issued an order converting Westech Capitals Chapter 11 reorganization to a liquidation under Chapter 7. The order states, The Court finds that it is in the best interests of the estate and creditors for this case to be converted to one under chapter 7 and that no party in interest objected.…

Leeton Shire Council releases 2016-17 Leeton golf course figures – The Irrigator

Golf course produces less of a loss | Poll exit IT WASNT a profit, but it was less of a loss.  Leeton Shire Council has released its 2016-17 financial year figures for the towns golf course.  While the facility still isnt close to turning a profit, in fact not many in the state do, the…

Telstra partner enters administration after commission structure revamp – ARNnet

Telstra partner, Interactive Telecoms, has gone into voluntary administration after the company was hit by financial difficulties arising from ongoing changes in the way Telstra structures its commissions for licensed retailers. According to the companys former business development manager, Andrew Wulff, the changes to the commission structure – which sees the telco remunerate licensed retailers…

Hilton Seskin confirms purchase of Municipal building at 164 Hunter Street – Newcastle Herald

FASHION SAVVY: Hilton Seskin, left, is a veteran retailer behind Glue, Topshop and JD Sports outlets. Picture: Louie Douvis, Priscillas modelling agency A retail mogul who brought the Topshop label to Australia has been revealed as the mystery buyer of a historic building in Hunter Street mall. The Newcastle Herald has confirmed Hilton Seskin, a fashion industry veteran and…