Category Archives: Liquidation

INSCO flags obstacle by minority CoC member for SC-cleared Hindustan Glass insolvency resolution

Independent Sugar Corporation Ltd. (INSCO), the successful resolution applicant for Hindustan National Glass & Industries Ltd. (HNGIL), has written to the Committee of Creditors (CoC), alleging that that Exclusive Capital, a minority Committee of Creditors (CoC) member has been “persistently attempting to derail the corporate insolvency resolution process (CIRP)“, despite the majority CoC members and the Supreme…

Creditors file over $198m in claims against troubled Qoo10, but only $34,650 recovered

SINGAPORE – More than $198 million in claims have been submitted by creditors to the liquidator of beleaguered online marketplace Qoo10, but only $34,650 has been recovered, according to minutes of the latest creditors’ meeting seen by The Straits Times. Of the sum recovered, $20,000 was from Qoo10’s 11 bank accounts with DBS Bank, $14,150 was…

Zorzi family’s sadness for tradies, staff as builder busts – The West Australian

Zorzi family’s sadness for tradies, staff as builder busts  The West Australian Read the original article here

Deed puts PGA of WA on path out of administration

THE Pastoralists and Graziers Association of Western Australia is preparing to take back control of its affairs now that its creditors have accepted a Deed of Company Arrangement. Proposed by voluntary administrators RSM Australia, the deed was accepted at the second meeting of creditors held in Perth on March 7. RSM Australia partners Jerome Mohen…

Aussie childcare chain HEI Schools and ILO Learning on the brink, owes $17.5m

An Australian childcare chain’s future is being questioned, with panicked parents pulling their children out of one centre as they fear the service is about to go under. The company is facing debts estimated at $17.5 million and 320 jobs are at risk. The chain, which has centres in Victoria and New South Wales, was…

Creditor says they were blindsided by liquidation of Libelle

The small businesses paying the price for free school lunches after the collapse of the main provider Libelle Group. Libelle, which made meals for the government’s revamped programme, has gone bust owing more than $14 million to dozens of creditors. Liquidators Deloitte said one of the failed company’s biggest problems was scaling up too fast…

Hudson’s Bay liquidation on hold as discussions continue to diffuse differences – Hamilton Spectator

Hudson’s Bay liquidation on hold as discussions continue to diffuse differences  Hamilton Spectator Read the original article here