A total of 17 staff have been made redundant following the collapse of an Isle of Wight glazing firm, it has been confirmed. ‘Cashflow difficulties’, exacerbated by the COVID pandemic, are being blamed for Glazing the Island entering liquidation. As previously reported, the company has ceased trading with immediate effect. Advisory firm Quantuma was appointed to oversee…
After a 10-month inquiry process, on 12 July 2023 the Parliamentary Joint Committee on Corporations and Financial Services (PJC) delivered its final report on the effectiveness of Australia’s corporate insolvency laws. In this alert, we distil some of the key findings from the almost 400-page report and consider what future law reforms might look like. …
How Abengoa Group impacted the Spanish economy EY Read the original article here
‘Difficult decision’: Premium spa business sinks with $1.7m shortfall The Press Read the original article here
On January 30, the RBI filed an application before the NCLT in New Delhi to initiate the CIRP under Section 227 and clause (zk) of sub-section (2) of Section 239 of the Insolvency and Bankruptcy Code (IBC) and the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority)…
Financial creditors of Reliance Big Private Limited, formerly promoted by Anil Ambani, are set to face a 99% haircut as part of the approved resolution plan in its insolvency case. The National Company Law Tribunal (NCLT), Mumbai Bench, has given its nod to the resolution plan submitted by Manoj Kumar Upadhyay through his affiliate firm,…
Evergrande Subsidiary Faces Winding-Up Order Amid Continued Trading Suspension TipRanks Read the original article here
Haydale places “loss-making” US arm into corporate insolvency process Insider Media Read the original article here
The financial creditors of would take a 99.5% haircut in the resolution of erstwhile Anil Ambani-promoted Reliance Big Private Limited’s insolvency case. The National Company Law Tribunal (NCLT), Mumbai Bench, has approved the resolution plan submitted by Manoj Kumar Upadhyay through his affiliate firm ACME Cleantech Solutions Private for the revival of Reliance Big Private…
What we know so far about the dramatic Whyalla Steelworks administration The New Daily Read the original article here