Banking Insolvency in Nigeria: Liquidation of Heritage Bank as Case Study – Proshare
Banking Insolvency in Nigeria: Liquidation of Heritage Bank as Case Study Proshare Read the original article here
Mosiac Brands ex-employees still owed entitlements as company’s $250 million debt revealed
Liz Purtell worked for Autograph for 27 years and feels she’s been treated badly by the company. Photo: Oliver Jacques. Collapsed women’s clothing company Mosiac Brands owes creditors $250 million worldwide, with many Australian staff members still not paid their entitlements weeks after store closures. In early October, Mosaic announced it would be winding up…
NCLAT Upholds Jaiprakash Associates Insolvency Proceedings: Rediff Moneynews
The National Company Law Appellate Tribunal (NCLAT) has rejected Jaiprakash Associates Ltd’s plea challenging insolvency proceedings initiated against the company. The decision upholds the NCLT’s order to initiate Corporate Insolvency Resolution Process (CIRP) against the company. New Delhi, Dec 6 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Friday rejected Jaiprakash Associates Ltd’s petition…
Scottish rum producer under new ownership after liquidation
After going into liquidation in September, Dark Matter rum brand was bought by Ardent Spirits, and the product is now being made at Banchory’s Burnobennie Distillery. The award-winning run was launched in 2015, making it Aberdeenshire’s first rum distillery, and is known for it’s spiced rum, white rum and flavoured rum liqueurs. Simon Morrice, Burnobennie Distillery distribution…
Bankruptcies forecast 2024-2025 | Allianz Trade report
When we released our first global insolvency forecast in February, we were already expecting a sharp increase in 2024 (+9%), followed by a stabilization in 2025. However, recent developments have led to an even grimmer picture, with a projected increase of +11% for this year (+2pps from the previous forecast), followed by a peak of…
Share of US corporate bankruptcies seeking liquidation on track for 15-year low – S&P Global
Share of US corporate bankruptcies seeking liquidation on track for 15-year low S&P Global Read the original article here
Business insolvencies fall by 10%
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales was 1,747 in October 2024, 10% lower than in September 2024 (1,950) and 24% lower than the same month in the previous year. The business insolvencies figures consisted of 188 compulsory liquidations, 1,445 creditors’ voluntary liquidations (CVLs), 100…
NCLAT sets aside Jaiprakash Associates’ plea against insolvency proceedings
The National Company Law Appellate Tribunal (NCLAT) on Friday rejected Jaiprakash Associates Ltd’s petition challenging the insolvency proceedings initiated against the company. A three-member bench led by Chairperson Justice Ashok Bhushan has upheld the orders passed by the National Company Law Tribunal (NCLT), which had directed to initiate Corporate Insolvency Resolution Process (CIRP) against…
Billson’s Brewery survives liquidation after creditors throw the drinks brand a lifeline
Nathan and Felicity Cowan announced on social media that Billson’s would continue. Photo: Facebook. Beechworth’s iconic drinks brand Billson’s Beverages Pty Ltd looks set to avoid liquidation after creditors voted to keep the battling brewery alive. “After an uncertain year, we are thrilled to share that we have made significant progress in securing the future…
Junkyard Artist Management enters liquidation, leaving comedians out of pocket
“I am not going to be too hard on my former management,” he wrote on Instagram. “They spread themselves too thin trying to support their people, and stuffed up the numbers.” Not all of Ivanoff’s clients were so forgiving. Greg Larsen signed on with the company just a month ago: “Since Junkyard went insolvent, a…