The South Australian government has forced the Whyalla steelworks into administration as it attempts to resolve the crisis at the embattled site. Changes to the Whyalla Steel Works Act were rushed through both houses of state parliament on Wednesday morning, before being signed off by the SA Governor. The steelworks, which is owned by GFG…
It took just minutes for surprise laws to be introduced to Parliament and pass both houses giving the state government the power to place the Whyalla Steelworks into administration. This deft procedure was necessary to not alarm GFG Alliance owner and billionaire industrialist Sanjeev Gupta to the government’s long-awaited action on the struggling steel plant.…
Collapsed home builder in liquidation Daily Telegraph Read the original article here
Collapsed home builder in liquidation Daily Telegraph Read the original article here
The global financial crisis has pushed many businesses into a state of instability. When companies are struggling with difficult choices, Deloitte Legal can assist with suggesting options to help recovery, such as restructuring outside of insolvency proceedings, a structured sale or provide assistance with judicial insolvency proceedings. We work with companies in distress as well…
The National Company Law Tribunal (NCLT) serves as the adjudicating authority for corporate insolvency resolution processes, liquidation and corporate debt restructuring under the IBC. The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted to streamline corporate insolvency resolution, liquidation, and debt restructuring, while ensuring a time-bound process that adequately balances the interests of creditors and…
Former directors of BHS liable for wrongful trading and misfeasance Herbert Smith Freehills Read the original article here
The High Court on Wednesday mandated the winding up of Physical Health Centre (TST) Limited, a subsidiary of the now-defunct gym chain Physical, following a liquidation petition filed by Link Asset Management Limited, a property management company. The order was issued after the subsidiary’s representative failed to attend the hearing. Master Maurice Lam…
CALIFORNIA — Nearly all Joann fabric and craft stores in California are liquidating their inventory and closing following the company’s bankruptcy news — and big sales are expected. According to the retailer’s online store locator, 61 of California’s 75 Joann locations are now labeled “liquidation stores.” The remaining 14 stores in Clovis, Covina, El Cajon,…
“Your overwhelming demonstration of how much everybody loves JOANN has meant more to us than you know. Although we regrettably will be closing some stores, we are grateful to continue our mission of inspiring creativity in our customers online and in stores across the country,” the company said on its website. The Cleveland, Ohio-based company…