KOLKATA: The way India deals with sick business is in for a shakeout. While Innoventive Industries moved the Bombay HC against the bankruptcy law, the Insolvency & Bankruptcy Board of India registered six other cases, one from liquor baron Vijay Mallyas UB Engineering. ICICI Banks application for insolvency resolution against Innoventive was the first to…
Retail chain Howards Storage World will emerge from voluntary administration, with administrators Deloitte securing a sale of the business and its franchise network to an unnamed buyer. The business was placed into the hands of external managers in late 2016, with Vaughan Strawbridge and David Lombe from Deloitte appointed to manage the administration of four entities…
Clive Palmer’s nephew and wife did a deal for Queensland Nickel to buy $135 million worth of shares in a coal mine he wanted to build five days before the company failed, a court has heard. At the time the deal was signed, on January 13 last year, Queensland Nickel was less than a week…
The U.S. Bankruptcy Court issued an order (with revisions made by the Court) approving the motion of the U.S. Trustee assigned to the ScripsAmerica case to convert the Companys Chapter 11 reorganization to a liquidation under Chapter 7. The order states, The Court finds that grounds exist to convert the Chapter 11 case to a…
Craig Richardson was chief executive of the Wynyard Group. Photo / File Creditors have placed failed crime-fighting software company Wynyard Group into liquidation, the company announced today. KordaMentha partners Grant Graham and Neale Jackson, who were running the voluntary administration, of Wynyard have been appointed liquidators of the company and subsidiary Wynyard (NZ) Limited. The…
Creditors have placed failed crime-fighting software company Wynyard Group into liquidation, the company announced today. KordaMentha partners Grant Graham and Neale Jackson, who were running the voluntary administration, of Wynyard have been appointed liquidators of the company and subsidiary Wynyard (NZ) Limited. The liquidators will provide further reports to creditors as required under the Companies…
Thursday 9th February 2017 Text too small? Creditors have placed failed crime-fighting software company Wynyard Group into liquidation, the company announced today. KordaMentha partners Grant Graham and Neale Jackson, who were running the voluntary administration, of Wynyard have been appointed liquidators of the company and subsidiary Wynyard (NZ) Limited. The liquidators will provide further reports to creditors as…
Eric Charbonneau/REX Shutterstock Struggling Relativity Media should be forced into a Chapter 7 liquidation, one of the struggling media companys many creditors demanded in a filing with the U.S. Bankruptcy Court in New York Wednesday, according to documents provided by one of the lawyers in the case. The motion comes from Relativity Secured Lender, an entity…
UPDATE | The former director of liquidated coach and trailer manufacturer Brimarco has fronted the Ballarat Magistrates Court. James Meaden, of Invermay, appeared on Wednesday charged with a directors duty offence under the Corporations Act. The Commonwealth Director of Public Prosecutions is prosecuting the matter and are alleging Meaden dishonestly transferred $34,000 to gain advantage for…
UPDATE | The former director of liquidated coach and trailer manufacturer Brimarco has fronted the Ballarat Magistrates Court. James Meaden, of Invermay, appeared on Wednesday charged with a directors duty offence under the Corporations Act. The Commonwealth Director of Public Prosecutions is prosecuting the matter and are alleging Meaden dishonestly transferred $34,000 to gain advantage for…