Category Archives: Liquidation

Small business restructuring proposals face greater ATO scrutiny, with insolvency firm urging directors to prepare thoroughly before seeking a second chance

Key Facts: Small Business Restructuring (SBR) appointments accounted for less than 10 per cent of all new insolvency appointments in July 2026, with overall numbers falling to levels last seen in 2023, according to the latest Alares Credit Risk Insights. Business recovery firm Jirsch Sutherland is warning directors and accountants that SBR proposals require thorough…

Insolvency professionals need to be wary of IBC abuse indicators: IBBI

New Delhi: The bankruptcy regulator has called on insolvency professionals (IPs) to be watchful of at least nine “indicators”-including the initiation of resolution process involving firms with no or negligible operations and assets, and such entities with substantial loans to or from related parties-to curb any potential abuse of law. The move, experts said, would…

Nocookies | News24

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Famous British department store plunges into liquidation after 21 years with 33 jobs at risk – The Sun

Famous British department store plunges into liquidation after 21 years with 33 jobs at risk  The Sun Read the original article here

CBA holds mortgages over Tzaneros family’s Sydney mansions as creditors circle

The Tzaneros family’s property portfolio in Sydney’s eastern suburbs is mortgaged to Commonwealth Bank via business loans, making the lender a secured creditor as the family fights to save its logistics business from liquidation. Six of the family’s mansions, which stretch from Bellevue Hill to Vaucluse, are tied to two agreements that set out obligations…

High Court limits use of liquidation in shareholder disputes

The High Court has rejected an attempt to liquidate a financially sound company after an estranged couple failed to resolve a dispute over its management and assets. The court dismissed Joan Catherine Wangui’s petition against her partner Robert Gethenji, seeking liquidation of RAK Limited, a company they incorporated in 2012. The judge held that liquidation…

Canna-Global Acquisition Corp. Begins $6.15 Per Share Partial Liquidation

Canna-Global Acquisition Corp. (OTCPK: CNGL) has begun an initial partial liquidating distribution of approximately $6.14892631 per share, starting a process to return cash from its trust account to holders of its publicly issued Class A shares and units. The partial liquidation program began Aug. 17 and is scheduled to remain open until 5 p.m. ET…

EU Bankruptcies Rise as Business Registrations Slip

Second-quarter figures reveal mounting pressure on firms, alongside sharp differences between sectors Business bankruptcy declarations increased across the… Second-quarter figures reveal mounting pressure on firms, alongside sharp differences between sectors Business bankruptcy declarations increased across the European Union in the second quarter of 2026, while registrations of new legal entities edged lower. The figures point…

Indialaw LLP Strengthens Corporate And Insolvency Practice With The Addition Of Senior Partner Satish Anand Sharma

IndiaLaw LLP has announced the appointment of Satish Anand Sharma as a Senior Partner in its Mumbai office, further strengthening the Firm’s Corporate & M&A, Financial Regulatory, Capital Markets and Insolvency & Bankruptcy practices. Satish brings over 25 years of experience advising corporates, banks, financial institutions, investment funds and NBFCs on complex domestic and cross-border…

NCLT pulls up SpiceJet for last-minute settlement in insolvency case; still defers order

Senior Advocate Kevic Setalvad and advocate Pranay Goel, appearing for creditors in connected petitions, strongly opposed any deferment of the remaining orders. Setalvad argued that a bilateral settlement in one case could not stall orders in matters involving other creditors. “I don’t think, with the utmost respect, that this settlement, coming in at the 18th…