TravelPharm Group, which operated airport pharmacies across the country, has been placed into liquidation following a court order. Liquidator Steven Khov of Khov Jones was appointed by the High Court in Auckland following a creditors successful application to liquidate the health retailer. Jones said it was too early to say how much the company owed…
Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory shield) that expires…
Iain McGregor/Stuff Jonny Collett, pictured working as a painter and decorator in 2009, remains in business after his company collapsed. Tradespeople left thousands of dollars out of pocket by a construction company collapse are angry its owner remains in business under another name. Christchurch builder Jonny Collett put his company, J.E. Collett Builders Ltd, into…
Bench took decision after banks from whom the ex-IAS officer took loan objected to the pleaThe Ahmedabad bench of National Company Law Tribunal has rejected a petition filed by former IAS officer Sanjay Gupta to put up one of his group companies in liquidation under the bankruptcy law. The bench took the decision after the…
Bain Capitals acquisition of Virgin Australia Holdings (VAH) is on track for October completion, administrator Deloitte has indicated in a letter to creditors and employees. Creditors had on 4 September accepted a proposal that is structured around 10 deeds of company arrangement (DOCAs) for all 41 VAH entities in voluntary administration. I confirm the DOCAs…
Unlike in the US or Europe, Korea has not implemented drastic measures against Covid-19, such as compulsory lockdowns, and whether Covid-19 has significantly dented Korea’s economic activity remains unclear. However, the country’s manufacturing sector relies heavily on exports and these are declining, rendering any likelihood of an economic rebound in the second half of the…
Guest post by Jonathan Munnery, UK Liquidators The coronavirus pandemic continues to leave a visible footprint as it disrupts every sector, leaving no shopfront untouched. As each business, from start-ups to SMEs establish strategies to protect their livelihoods, the economic pressure deriving from Covid-19 has pushed unstable businesses over their last leg of trading. As…
St Andrews Motorhomes Limited was incorporated in June 1993 to buy and sell motorhomes in Central Scotland. Christine Helen Galloway (65), from Cupar, Fife, was a director of the company since its incorporation. The company, however, began to struggle and ceased trading in July 2018, before entering into compulsory liquidation. St Andrews Motorhomes insolvency brought…
STA Travel has been placed into liquidation following a meeting of creditors today. The travel agency, which follows in the collapse of its Swiss parent company, was placed into voluntary administration on August 21. Trading under three separate entities in Australia, STA Travel Pty. Ltd and IEP Pty Limited were today placed into liquidation. READ…
By Wayne Robinson | 25 September 2020 The Sunshine Coast printing operation trading as Express Print & Mail took a five-year lease on its new 1400sqm Kunda Park premises on 1 April, before the company that had previously owned the business and the same name, was put into liquidation with debts listed at $4m. New…