Diamond-encrusted $16000 smartphone manufacturer Vertu faces liquidation after shuttering UK manufacturing arm – SmartCompany.com.au

Luxury smartphone manufacturer Vertu is reportedly shutting down its UK manufacturing arm and is facing liquidation after plans to save the exclusive phone brand failed, leaving the company with a reported £128 million ($AU214 million) accounting deficit. The Telegraph reports nearly 200 jobs will be lost as a result of the shutdown of the UK…

Liquidation possible for CQ coal miner in $4bn debt, owes employees $22m – Central Queensland news

LIQUIDATION is possible for a collapsed central Queensland coal miner, a creditors’ report has revealed. Winding up Caledon Coal was recommended by administrator PPB Advisory at the last creditors’ meeting. The Cook Colliery mine owner and Wiggins Island Coal Export Terminal part-owner was placed into administration earlier this year with a debt of about $4billion.…

Baralaba Coal’s future in limbo once again – Gladstone Observer

The future of Central Queensland mining company Baralaba Coal is in limbo once again after the company went into voluntary administration this week. In a statement to the Australian Stock Exchange on Wednesday, the company announced it was appointing administrators from advisory firm McGrathNicol, effective immediately. McGrathNicol said the administrators were “undertaking an urgent assessment…

Brisbane reseller Tech Project saved from administration after offering to repay some of $1m tax debt – CRN Australia

Brisbane IT solution provider Tech Project has pulled itself out of administration after creditors approved the director’s deed of company arrangement (DOCA). Creditors have accepted an arrangement where the directors will pay back $375,000, which works out to be 11-15 cents in the dollar, according to a report to creditors. Tech Project’s claimed debts amounted…

SBI moves insolvency proceedings against Electrosteel | Business … – Business Standard

Top lender SBI and other creditors have moved insolvency proceedings against Kolkata- based Electrosteel Steels at the National Company Law Tribunal (NCLT). State Bank of India initiated the corporate insolvency resolution process and filed the documents with NCLT, Kolkata, against the company under the Insolvency and Bankruptcy Code, 2016, Electrosteel Steels said…

Matisse Beach Club goes into voluntary administration | Perth Now – Perth Now

MATISSE, the beach club which tried to add some glamour to Scarborough, has gone into voluntary administration. The beachfront venues sole director, Sean Reid, called in administrators Rob Kirman and Rob Brauer from restructuring and insolvency firm McGrathNicols local office on Friday. media_cameraMatisse Beach Club in Scarborough posted on Instagram by user: @jorjamei Mr Reid…