Many businesses are scrambling to keep debt collectors at bay, as the ATO begins chasing down money owed following the pandemic. The ATO and other creditors currently pose the greatest ‘threat’ to cash-strapped small and medium-sized businesses, says Insolvency Australia, which has just released its latest Corporate Insolvency Index. It comes as a popular West…
The National Company Law Tribunal (NCLT) Kolkata bench comprising Justice Bidisha Banerjee (Judicial Member) and Shri Balraj Joshi (Technical Member) has held that an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC) for initiating insolvency proceedings against a personal guarantor is not maintainable before the NCLT if no Corporate Insolvency Resolution Process…
St. Louis-born Galera Therapeutics sidesteps liquidation, acquires New York biotech company The Business Journals Read the original article here
T&R Sports is being forced to liquidate all its remaining stock and you can pick up an absolute bargain. (Source: Lloyds Auctions) Sporting hardware giant T&R Sports, also known as T&R International, has entered liquidation, and the remaining stock is going up for auction. You’d normally have to fork out tens or even hundreds of…
Retirees big losers as China crushes cobalt producer The Australian Read the original article here
Property developer Bensons Property Group says it will complete its $1.5-billion development pipeline across three Australian states despite entering voluntary administration. The company is reportedly managing of more than 1300 apartments. Craig Shepard and Sebastian Ham of KordaMentha have been appointed as administrators, while Keith Crawford and Matthew Caddy of McGrath Nicol will oversee operations…
Greenleaf Fresh Ltd, from Hamilton, New Zealand, has entered voluntary administration. Greenleaf Fresh is behind Greengrower, a vertical farm in Hamilton. This decision follows recent financial challenges impacting the company’s operations, shares tax and advisory firm Grant Thornton, whose employees Adele Hicks…
The founder of a manufacturer of adult and electric scooters has spoken of his pain after the business went into liquidation. Jason Iftakhar founded Swifty Scooters in 2010 with his wife Camilla to design and manufacture adult scooters and transformed it into a global brand. The husband-and-wife team both graduated from The Royal College of…
Booktopia (ASX: BKG) has entered voluntary administration pending an “urgent assessment” of options for sale or recapitalisation. Insolvency firm McGrathNicol has been appointed and shares in the cash-strapped company will be suspended from trading during the administration process. All Booktopia subsidiaries including online bookseller, publisher and printer Angus and Robertson have been included in the…
Greenleaf Fresh Ltd, from Hamilton, New Zealand, has entered voluntary administration. Greenleaf Fresh is behind Greengrower, a vertical farm in Hamilton. This decision follows recent financial challenges impacting the company’s operations, shares tax and advisory firm Grant Thornton, whose employees Adele Hicks…