Romanian state-owned rail freight operator CFR Marfă is entering insolvency proceedings. The company is severely indebted, with its fate being near-certain: liquidation. Insolvency proceedings are likely a way to postpone the inevitable. The transport ministry approved CFR Marfă’s request for insolvency after it obtained approval from the operator’s shareholders. With the company’s entry into insolvency…
The Australian business of spirits distributor Proof & Company has entered voluntary administration, citing economic challenges. The company said on LinkedIn it had placed Sa’Pere Drinks, trading as Proof & Company Australia, into voluntary administration last week, adding that it was a difficult decision. The firm cited challenges of a local economic downturn and a…
Tax office target in Mrs Mac’s blue The West Australian Read the original article here
Australian insolvency advisory firm Cathro & Partners has expanded its portfolio with a new service line focused on personal insolvency. Simon Cathro, Managing Partner at Cathro & Partners, said that the launch of the new offering comes in response to growing demand for personal insolvency work, at a time when the number of companies and…
The Insolvency and Bankruptcy Code (IBC), 2016 was enacted to consolidate and harmonize India’s insolvency law by repealing several overlapping legislations, including the Companies Act, 1956, and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, that led to delays, inefficiencies, and uncertainty, adversely affecting businesses, creditors, and the economy. The IBC…
Premium spirits distributor Proof & Company Australia has entered into voluntary administration, citing the economy and the changing landscape of the spirits industry as factors. Sa’Pere, trading as Proof & Company, announced it will appoint administrators to explore all options and achieve the best possible outcome for all involved. It is unclear what the move…
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…
When the flagship Hudson’s Bay store in Toronto opened Friday morning, customers burst through the doors on a mission to find one thing: deals. Some jogged through the 675,700-square-foot store on Yonge Street in hopes of getting first pick of the company’s famed stripes merchandise. Others made a beeline for the jewelry department, where they…
A heating company’s former home has been put up for sale. The property once occupied by Tomkinson Heating on Buxton Road has hit the market. It comes after the firm went into liquidation in March, with their goodwill and customer base acquired by GasCare. Priced at £275,000, the building is described as an ‘excellent owner…
The Federal Court in Brereton, in the matter of ICT Century Pty Ltd (In Liquidation) [2025] FCA 107 granted the liquidators of ICT Century Pty Ltd (in liquidation) (ICT) a one-year ‘shelf order’, or an extension of time to bring voidable transaction claims under section 588FF(1) of the Corporations Act 2001 (Cth). This allows liquidators…