EaseMyTrip’s co-founder Nishant Pitti may be selling a stake in the travel aggregator, but he clearly is keen on buying the bankrupt GoFirst. Pitti-backed Busy Bee Airways has made a renewed push in the National Company Law Appellate Tribunal (NCLAT), pitching for a revised resolution plan for GoFirst. Busy Bee has challenged the liquidation of…
Bensons Property Group called in administrators on the day a fund managed by Macquarie Private Bank’s former head Guy Hedley tipped the developer with a near $1.5-billion pipeline into receivership. The Melbourne developer – which has total debts of about $812 million according to documents filed to the corporate regulator – went into voluntary administration…
LONDON – SVM UK Emerging Fund PLC, a UK-based investment firm, announced today that its Board of Directors has decided to proceed with a Members’ Voluntary Liquidation ( MVL (NSE:)) following a comprehensive review of the company’s future options. The decision, which aims to realize the company’s investments and return cash to shareholders, comes ahead…
NovaBay Pharma’s Strategic Shift and Liquidation Plans TipRanks Read the original article here
The federal government continues to throw regional carrier Rex Airlines a lifeline, after taking on its $50 million debt from its largest creditor PAGAC Regulus Holdings Limited. Rex has been fighting for commercial survival after entering voluntary administration on June 30 last year, with Ernst and Young (EY) appointed administrators. Transport Minister Catherine King and…
NCLT Orders Liquidation of Go First Airways Moneylife Read the original article here
Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds, says: “Despite a year-on-year decline in corporate insolvency numbers,…
It has been held that the opinion expressed by the CoC after due deliberations in the meetings through voting, as per voting shares, is the collective business decision and that the decision of the CoC’s commercial wisdom is non-justiciable The New Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) upheld the…
Third-generation, family-owned retailer begins final liquidation of two stores. Voted Best of the Best in Colleton County for at least a decade by The Press and Standard readers, family-owned and operated Dixie Furniture & Mattress announced it is going out of business and will begin total liquidation of its stores in North Charleston and Walterboro.…
Vasile Hrusca used funds from his failing company to pay off the remaining balance on a high-performance Audi he bought the previous year Hrusca also committed theft by selling-on plant equipment worth almost £90,000 which was still subject to two hire purchase agreements The 40-year-old was handed a suspended sentence and director disqualification after pleading…