Strong Petrochemical Faces Winding-Up Petitions in Cayman and Hong Kong – TipRanks
Strong Petrochemical Faces Winding-Up Petitions in Cayman and Hong Kong TipRanks Read the original article here
Dunedin Trust announces winding-up schedule By Investing.com
LONDON – Dunedin Enterprise Investment Trust PLC, a publicly traded investment fund, has released a timetable for its voluntary liquidation process. The company has made the circular detailing the proposed liquidation available for shareholders to view online and submitted it to the National Storage Mechanism. According to the schedule, the last day of dealing in…
IBC reforms: Let’s strengthen the Code as a key growth enabler
This paradigm shifted with the introduction of the IBC, which provided a much-needed mechanism to address insolvency issues in a time-bound and efficient manner. Passed in May 2016, it has played a transformative role in the Indian economy. At the time of its enactment, we were grappling with a twin balance sheet crisis, where banks’…
Important orders on IBC (September 1 – September 15, 2024)
1. In Commercial Tax Department v. Teena Saraswant Pandey, (Company Appeal (AT) (Ins.) No. 1265 of 2022), the NCLAT observed that commercial tax department could not be treated as ‘secured creditor’ in relation to the taxes owed by the corporate debtor under Madhya Pradesh VAT Act, 2002 (“MPVAT”). To arrive at the conclusion, NCLAT relied on…
Global insurer is put into liquidation
Guernsey-registered GBG Insurance Ltd was placed into administration by the Royal Court last December, pre-empting the collapse of the US-headquartered Global Benefits Group earlier this year. Audited accounts showed that the business was in good health but directors discovered that declared assets representing more than $70m. did not exist. Efforts were made during 2023 to…
Liquidator gives first glimpse of SolarZero's collapse – BusinessDesk
Liquidator gives first glimpse of SolarZero’s collapse BusinessDesk Read the original article here
Aether Pacific facing liquidation with creditors owed NZ$9m
Christchurch-based Aether Pacific Pharmaceuticals (APP) is facing liquidation with creditors owed nearly NZ$9 million. The company formerly known as Medical Kiwi, which operates a cultivation facility and a clinical network, called in administrators last month after hitting financial difficulties. The Press reports the firm’s liabilities include $63,000 owed to staff in wages and holiday pay,…
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To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…
SolarZero collapse: Liquidators’ first report reveals more than $40 million owed
Trade creditors with security are owed $3.1m. There are 598 unsecured creditors who are owed just over $34.9m. This includes $4.1m owing to trade creditors and $24.4m in intercompany payables. “At this stage, it is unknown if there will be any funds available to make payment to unsecured creditors,” the report said. AdvertisementAdvertise with NZME.…
Nellis Auction opens 2nd Las Vegas store
A beloved Las Vegas liquidation store has opened a new location. Nellis Outlet, the second location of Nellis Auction, opened Nov. 29 inside the Meadows Mall at 4000 Meadows Lane. The liquidation stores buy and resell returned items from places such as Amazon at highly discounted rates. The store is open from Friday to Tuesday,…