British retail chain BHS has officially entered liquidation, after falling into administration earlier in the year. The news marks the official end of the iconic company’s 88-year history in the UK. While a company, or parts of a company, can still be bought and saved from administration, the liquidation of assets means the firm will…
A commodity trading company, Finatrade, is said to have begun series of job cuts in anticipation of an eventual liquidation as the company is soaked in more than GH¢1 billion debt that is threatening the survival of some banks in the country. The company, which is arguably the biggest commodity trading company in the…
Nov 29 Antrim Energy Inc * Announces 2016 third quarter results * Board has concluded that it is in best interest of shareholders, corp to proceed with voluntary liquidation and dissolution of corporation * Itis anticipated that formal dissolution and winding up of corporation and its subsidiaries will occur in early 2017 * Board retains…
Image Credits: Gallo Images Startling claims that Western Province Rugby Union (WPRU) is faking liquidation of its PTY arm have come to light in recent weeks. The union was granted provisional liquidation by the courts last week, but a company on its creditors has since claimed that there are ulterior motives to this move. Aerios…
A SPORTSWEAR company launched by England and Sussex cricket legend James Kirtley looks set to go bust. Kirtley set up MKK Sports Limited more than ten years ago with three business partners supplying sports clubs throughout the country with kits. High profile clients included Sussex and Middlesex County Cricket Clubs (CCC). But a creditors’ meeting…
Restructuring & Insolvency 2017: Analysis The collaboration between Whos Who Legal and Global Restructuring Review has again generated extensive research into restructuring and insolvency legal markets around the world. All told, we list 570 lawyers this year from 47 jurisdictions. Thought Leaders Europe Rita Gismondi Gianni Origoni Grippo Cappelli & Partners, Rome…
A zinc mining project in north Queensland will be revived after its owners raised the $30 million required to fund a return to production. Development company Red River Resources announced on Friday that capital works and refurbishment would begin immediately on Thalanga zinc project, some 200km southwest of Townsville. It anticipates production at the project,…
Marking the start of a “new regime”, the Insolvency and Bankruptcy Code is all set to be operational from tomorrow while as many as 15 insolvency professionals have been registered under it. Describing the Code as the next major reform undertaken by the government after GST (Goods and Services Tax), Corporate Affairs Secretary…
A SPORTSWEAR company launched by England and Sussex cricket legend James Kirtley looks set to go bust. Kirtley set up MKK Sports Limited more than ten years ago with three business partners supplying sports clubs throughout the country with kits. High profile clients included Sussex and Middlesex County Cricket Clubs (CCC). But a creditors’ meeting…
MUMBAI: Legislative changes are combining with the stress of the shock demonetising of high value notes to corner corporate defaulters, cozy after declaring themselves as sick units, because they are finally finding themselves within a striking distance of their creditors, with the disbanding of the Board of Industrial and Financial Reconstruction (BIFR). Cases listed before…