Creditors for Reacon Australia will meet tomorrow to vote on the Deed of Company Arrangement after being placed back into voluntary administration by the Federal Court of Australia two weeks after being placed into liquidation. Andrew Blundell from Cathro & Partners has confirmed that an application was made to effectively reverse the decision from placing…
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Workers from now-defunct Hudson’s Bay locations across Ontario are rallying against severance denials. A report by Unifor, a Canada-wide union, revealed that Hudson’s Bay staff represented by the group (some 600 workers) gathered in Toronto and Windsor yesterday to demand owed severance as the company’s liquidation nears completion. Due to a lack of support, union…
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Lucapa Diamond, the Australian company that owns the Lulo mine in Angola and the Merlin mine in Western Australia, has gone into voluntary administration. The move came a week after Lucapa halted trading of its shares on the Australian Securities Exchange. KordaMentha Restructuring executives Richard Tucker and Paul Pracilio, who were appointed administrators for Lucapa,…
NEW DELHI: The bankruptcy regulator has amended the framework for reporting the corporate insolvency resolution process (CIRP) to ease compliance burden without undermining effective oversight, according to a circular. Under the revised reporting framework, the existing nine forms will be compressed into five by removing duplication, streamlining data requirements and leveraging technology for auto-population of…
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The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved Rs 502-crore resolution plan submitted by Evonith Holdings Pvt. Ltd. for Topworth Urja & Metals Limited, marking a significant step in the corporate insolvency resolution process (CIRP) of the company. The order, pronounced on May 26, 2025, by a bench of Member (Judicial)…