Zimbabwe National Chamber of Commerce THE Zimbabwe National Chamber of Commerce (ZNCC) has apprised its members of corporate rescue and liquidation processes amid a tough economic environment that has seen firms battling to maintain solvent statuses. Local companies, such as Truworths Limited, Beta Holdings and Khayah Cement Limited, have entered corporate rescue to restructure their…
Regional telecommunication provider Field Solutions Holdings Limited has entered voluntary administration, with receivers appointed to oversee a sale or recapitalisation process. The collapse comes despite the company’s most recent financial filings suggesting it was pursuing a capital raise and restructuring its operations. The ASX-listed telco provides connectivity and business solutions for rural, regional, and remote…
The vandalised Gulf Harbour Country Club sign now overgrown and barely visible.The ongoing saga of Gulf Harbour Country Club had a partial resolution for creditors when the company GHCC2016 (the company formed to run the club) was placed in liquidation on February 5 at the High Court in Auckland.However, the fate of the country club…
The move will not impact its parent company in the UK, which will continue to trade through its 344 stores and its website. A 30-day staff consultation process will now commence for New Look employees in the Republic of Ireland over the coming days. New Look employs about 347 staff across its 26-store network in…
The first liquidators’ report revealed the company owed about $1.2 million, as at mid-April 2024. However, a second liquidators’ report was released in December, providing more information about the company’s books and debt. That report stated the company owed $4,196,508 to creditors (as at mid-October) including over $200,000 to staff. AdvertisementAdvertise with NZME. That was…
Troutman Pepper Partner Evelyn Meltzer to Serve as Chair of the International Women’s Insolvency & Restructuring Confederation Troutman Pepper Read the original article here
Haydale places “loss-making” US arm into corporate insolvency process Insider Media Read the original article here
Independent Sugar Corporation (INSCO), of the Uganda-based Madhvani Group said it has received a favourable order from the Supreme Court of India, clearing its path to acquire Hindusthan National Glass & Industries (HNG) through the Insolvency & Bankruptcy Code (IBC) process. The Supreme Court ruling has resolved a long-standing corporate dispute, allowing INSCO to establish presence in…
This week, Melbourne’s Burnley Brewing has announced that it has entered into liquidation, marking a continuation of a now well-established trend that has seen more than 20 breweries enter into either voluntary administration or liquidation over the past year alone. According to an update published to ASIC, “notice is given that at a general meeting…
Reliance Big Creditors Get Just Rs3.5 Crore Out of Rs483 Crore Debt as NCLT Approves Resolution Plan Moneylife Read the original article here