Insolvency Statistics – What They Mean for Your Business’ Finances
Since November 2023 corporate insolvency rates have shown positive signs that the rate of insolvencies since the pandemic may be tailing off and starting to reduce.
All the Single Debtors: Court Refuses to Expand Exceptions to the Single Debtor Rule Under Doctrine of Marshalling | Knowledge
In the recent decision of Griffon Partners Operation Corp (Re), 2024 ABKB 277 [Griffon] the Court of King’s Bench of Alberta (the “Court”) considered the applicability of the doctrine of marshalling. The case involved a debtor indebted to both senior and subordinate creditors, with an affiliated entity granting a guarantee and share security solely to…
Hearing company Nuheara enters voluntary administration
A $21m hearing healthcare company has gone bust, blaming a fallout with a key supplier for its woes. ASX-listed Nuheara Limited, which specialises in a wireless earbud that allows customers to augment their hearing, announced its move into voluntary administration late on Wednesday afternoon, appointing KPMG administrators to take control of the firm. “The decision…
Government guarantees Rex Airlines bookings amid voluntary administration
Government guarantees Rex Airlines bookings amid voluntary administration e11545c3e87dd15de1e4f0171f0e111e … Read the original article here
Valhalla Brewing To Be Liquidated; Multiple Indie Brewers Counting The Cost
Valhalla Brewing and parent company Lotus Beer Co are set to be liquidated following a second meeting of creditors yesterday. In mid-July, the Geelong-based beer business entered voluntary administration and its subsequent collapse puts a spotlight on a number of issues within the craft beer industry, including equity crowdfunding, beer distribution, and the tight cashflow…
Hilco Capital takes over CommBank's debt in EziBuy liquidation – BusinessDesk
Hilco Capital takes over CommBank’s debt in EziBuy liquidation BusinessDesk Read the original article here
Clough Transport in liquidation after contract loss
A Mosgiel-based freight transport business has been put in liquidation, by shareholder resolution, after the loss of a “significant” contract at short notice. Trevor and Emma Laing, of Laing Insolvency Specialists, have been appointed joint liquidators of Clough Transport Ltd, whose sole director and shareholder is Malcolm Clough. In their initial report, the liquidators said…
R3 responds to July 2024 insolvency statistics
Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds, says: “Despite a decrease compared to last month, July’s…
Exhibition fit-out company Elmwood Projects enters liquidation
The museum fit-out company, Elmwood Projects, has entered liquidation after filing for insolvency in July. The Glasgow-based firm provided services for a range of high-profile museum and gallery projects, including the recent redevelopments of Glasgow’s Burrell Collection and St Fagans National Museum of History in Wales. … Read the original article here
Edtech firm Byju’s on sticky wicket as NCLT admits BCCI’s insolvency plea | Start Ups
The tribunal has appointed Pankaj Srivastava as the interim resolution professional. (Photo: Reuters) 4 min read Last Updated : Jul 16 2024 | 11:15 PM IST The Board of Control for Cricket in India (BCCI) on Tuesday achieved a feat that many creditors of edtech firm Byju’s have failed to, with the National Company…