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No Cookies To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to…

Christchurch modular home builder in liquidation

Christchurch modular housing company Shape Construction has gone under, owing more than $1 million to creditors and leaving homes unfinished. The company went into liquidation on May 2 with Brenton Hunt of Insolvency Matters appointed as the liquidator by the company director. Shape Construction, which began operating in 2012, ceased trading in April. In the…

Majority’s Consideration Of Debt Restructuring With Corporate Debtor Does Not Bar Individual Member From Filing Petition U/S 7 Of IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) that the fact that a majority of consortium lenders are considering debt restructuring with the Corporate Debtor does not preclude an individual member from independently initiating insolvency proceedings under Section 7 of the…

R500m Needed to Rescue Daybreak Foods from Collapse

The Public Investment Corporation (PIC) is in a frantic last-minute effort to secure R500 million in funding to prevent the collapse of struggling poultry producer Daybreak Foods, reported the Sunday Times. Without the cash injection by Friday, the company faces liquidation, putting 3,400 jobs at risk. Failed Funding Plea The PIC sought emergency funding from…