End of a R500 million company in South Africa risks leaving three ghost towns behind – Business Tech
End of a R500 million company in South Africa risks leaving three ghost towns behind Business Tech Read the original article here
Allowing liquidation of Tongaat Hulett will roll back the gains of the Sugar Value Chain Master Plan – The Mail & Guardian
Ghost towns: The mills in Tongaat, Maidstone and Felixton have fallen silent. Photo: Delwyn Verasamy While the sugar industry has shown green shoots amid the introduction of the Sugar Value Chain Master Plan, parliamentarians have warned that allowing Tongaat Hulett to collapse would undermine the gains. During the portfolio committee on trade, industry and competition…
Corporate veil to be lifted, if group companies inextricably connected: SC
The Supreme Court has said that when associated or group companies are so inextricably connected that they effectively function as one concern, courts can lift the corporate veil and look at the economic reality of the group as a whole. Answering the question of when such a step can be taken, a Bench of Justices…
IBBI Introduces Framework For Termination Of Voluntary Liquidation Proceedings
The Insolvency and Bankruptcy Board of India (IBBI) has put in place a formal mechanism for ending voluntary liquidation proceedings before a company is dissolved. The latest changes also tighten the claims process by requiring stakeholders to update claims that have been partly or fully satisfied and by obligating liquidators to explain why any claim…
Kalas Packaging acquires Ryedale print business from liquidation – Printweek
Kalas Packaging acquires Ryedale print business from liquidation Printweek Read the original article here
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Click Frenzy acquired by Catch’s Gabby and Hezi Leibovich
The founders of Catch and Scoopon have acquired Click Frenzy and plan to relaunch the website, weeks after the online sales platform collapsed into liquidation. Gabby and Hezi Leibovich, who founded local e-commerce pioneer Catch in 2006, revealed the acquisition of Click Frenzy and its digital assets on Monday. Founded in 2012 by Grant Arnott,…
Online tickets platform Tickets.ie has announced it is going into liquidation
The company behind online tickets platform Tickets.ie is ceasing trading and is poised to go into liquidation. The business, which is majority-owned by the DEAG Group, a German live-entertainment and ticketing company, made this announcement after the bank holiday weekend. The decision has led to “shock” among festival organisers who have used it…
UK fashion retailer to close all 15 stores after collapsing into liquidation – Hexham Courant
UK fashion retailer to close all 15 stores after collapsing into liquidation Hexham Courant Read the original article here
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