Former employees and entities rendering services to a company that is undergoing insolvency process will be obligated to share information with the resolution professionals, as per the Insolvency and Bankruptcy Code (IBC) amendments approved by Parliament recently. Earlier, RPs could seek information only from the existing “personnel” during the corporate insolvency resolution process (CIRP). But…
[SINGAPORE] Struggling cinema chain Cathay Cineplexes has ceased operations as of Monday (Sep 1), shortly after its voluntary liquidation was announced earlier in the day. The cinema chain, which owes money to landlords of several of its outlets, will undergo voluntary liquidation, said its parent company mm2 Asia. “Cathay Cineplexes had attempted to negotiate amicable…
SINGAPORE: Cathay Cineplexes is set to undergo creditors’ voluntary liquidation amid its financial woes, operator mm2 Asia announced on Monday (Sep 1). The board has resolved that it is no longer feasible for Cathay Cineplexes to continue operating, given its financial position and the absence of restructuring options, among other things, mm2 Asia said in a filing…
Cathay Cineplexes is set to undergo creditors’ voluntary liquidation amid its financial woes, operator mm2 Asia announced on Monday (Sep 1). The board has resolved that it is no longer feasible for Cathay Cineplexes to continue operating, given its financial position and the absence of restructuring options, among other things, mm2 Asia said in a filing on the…
SINGAPORE – Entertainment company mm2 Asia on Sept 1 announced that Cathay Cineplexes will undergo voluntary liquidation. The struggling cinema chain, which owes money to the landlords of several of its outlets, is unable to continue operating as a going concern, its parent company said. “Cathay Cineplexes had attempted to negotiate amicable resolutions with the…
[SINGAPORE] Entertainment company mm2 Asia on Monday (Sep 1) announced that Cathay Cineplexes will undergo voluntary liquidation. The struggling cinema chain, which owes money to landlords of several of its outlets, is unable to continue operating as a going concern, its parent company said. “Cathay Cineplexes had attempted to negotiate amicable resolutions with the various…
Cathay Cineplexes, a fixture in Singapore’s film scene since 1939, is preparing to close a significant chapter in its history. The cinema chain will be undergoing voluntary liquidation, operator mm2 Asia announced on Monday (Sep 1) in a filing on Singapore Exchange. “Cathay Cineplexes had attempted to negotiate amicable resolutions with the various creditors, but…
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It is not feasible for the cinema chain to continue operating as a going concern, parent mm2 Asia says [SINGAPORE] Entertainment company mm2 Asia on Monday (Sep 1) announced that Cathay Cineplexes will undergo voluntary liquidation. This comes as the struggling cinema chain is unable to continue operating as a going concern. Cathay Cineplexes faced…
ASIC bans former United Global Capital (in Liquidation) financial adviser Milutin Petrovic for 6 years The National Tribune Read the original article here