The Insolvency and Bankruptcy Board of India, which oversees the revival and liquidation of distressed firms, amended two of its regulations to require that every turnaround scheme should also specify how the interests of these stakeholders will be taken care of. Photo: AFP New Delhi: Bankrupt businesses exploring turnaround options under pressure from lenders can…
AdvertisementHampshire Group filed with the U.S. Bankruptcy Court a notice of withdrawal of the Companys fifth motion for an exclusivity extension. The Companys First Amended Joint Chapter 11 Plan of Liquidation subsequently became effective, and the Company emerged from Chapter 11 protection. Advertisement The Court confirmed the Plan on Septemb… Read…
APPLETON, Wis. (WBAY) – The sale of Appleton Coated to a liquidation company was approved Thursday — but that doesn’t necessarily mean the paper mill will shut down. Appleton Coated paper mill in Combined Locks (WBAY photo) An Outagamie County judge has approved the sale to Industrial Assets Corporation, a California-based liquidation and auction company.…
TORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have set a deadline of Oct. 7 for the retail chain to enter liquidation agreements for all its assets, leaving the company with just days to reach a deal to continue operations, a court-appointed monitor said. That tight deadline presents a challenge and could potentially derail…
Creditors seeking the company records of collapsed Gold Coast builder Queensland One Homes have been told the companys server, which contained two hard drives, had been left out in the back of a ute and been water damaged. The Gold Coast Bulletin reports that sole company director Paul Callender will be asked to appear before…
Forensic accountant Abigail Cheadle restructured foreign debt for the Soviet Union and Iraq and helped save Indonesian banks and Thai finance companies during the Asia economic crisis. Now the 45-year-old chartered accountant wants to turn around ailing online surf and skate wear retailer SurfStitch. Ms Cheadle has outed herself as the SurfStitch non-executive director who…
The latest quarterly insolvency statistics published today by Deloitte show that the number of corporate insolvencies has fallen by 14% in 2017 compared to the same period in 2016. So far in 2017 there have been 657 corporate insolvencies, compared to 765 in the same period in 2016. Of the 657 corporate insolvencies, creditors…
FORMER patients of two financially struggling medical centres are paying the price after receiving healthcare at the businesses. Explaining the $77 fee lumped with patients seeking medical records, the administrators of Calliope and Gladstone Valley Medical Centres said the money would “partially recoup” what was being spent the winding up the non-profitable centres. EARLIER REVEALED:…
GLADSTONE Valley and Calliope Medical Centre patients are coughing up cash for the administration of two recently closed general practice services. In a statement provided to The Observer, administrators Worrells Solvency and Forensic Accountants explained why it is charging patients $77 to have their medical records transferred to new healthcare providers following the closures of…
A former oil and gas drilling company has resumed trading on the Australian share market under a new name and purpose: selling Australian products to Chinese tourists and “daigou”. AuMake International sells Australian cosmetics, vitamins, long-life milk, baby products, and wool and leather products through its wholesale warehouses and retail stores. The company wants to…