Customer outraged after seeing controversial policy at closing Joann store: ‘Shameful for everyone participating’

Liquidation

While Joann Fabrics locations closed across the country, disturbing reports emerged about the company’s liquidation practices. What’s happening? A Redditor visiting their local store witnessed employees discarding sewing patterns in rolling garbage cans. When asked about this practice, an employee explained that liquidators had instructed them to “keep 4 and toss the rest,” adding that…

A welcome recall – Opinion News

Liquidation

The Supreme Court’s (SC) decision to recall its May 2 judgment that had ordered the liquidation of Bhushan Power and Steel (BPSL) is a significant positive outcome for the Insolvency and Bankruptcy Code (IBC) and the overall framework for stressed asset resolution in India. The top court’s decision to hear the case afresh on August…

Harsh times cited for liquidation

Liquidation

Harsh economic times have been cited as the reason for the liquidation of a Wanaka interior design business. Wanaka Interiors, which was incorporated in March 2022, was placed in liquidation by shareholders resolution last month. In their first report, liquidators Trevor and Emma Laing, of Laing Insolvency Specialists, said the business, owned by Celeste and…

Petition U/S 9 Of IBC Is Inadmissible Without Payment Received By Corporate Debtor In Subcontracted Work Done By Operational Creditor: NCLT Hyderabad

Liquidation

The National Company Law Tribunal (NCLT) Hyderabad bench of Sri Rajeev Bhardwaj (Hon’ble Judicial Member) and Sri Sanjay Puri (Hon’ble Member Technical) has held that in absence of any payment received by the Corporate Debtor in a subcontracted work executed by the Operational Creditor, application under section 9 of the IBC cannot be entertained. Filing…

Nottingham Rehab Limited and NRS Healthcare Limited in liquidation: information for customers, suppliers, creditors and landlords.

Liquidation

On 1 August 2025, winding up orders were made against Nottingham Rehab Limited (trading as NRS Healthcare) and NRS Healthcare Limited. The court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator.   Following an application made by the Official Receiver, the court also appointed Mark James Tobias Banfield, Edward Williams, Helen Laura Wheeler-Jones, Adam Seres and David…