3 min read Last Updated : Jun 12 2024 | 9:26 PM IST Bankrupt airlines Go First got a final 60-day extension from the National Company Law Tribunal (NCLT) on Wednesday to complete its corporate insolvency resolution process (CIRP). This extension will last till August 3. The lenders of the airline include the Bank of…
A sportswear brand set up by a young entrepreneur has gone into liquidation with debts of 900,000. Lucy Locket Loves, which started in Sheffield, sold leggings, shorts and gym clothing from a warehouse in Dronfield. Founder Lucy Arnold said the business had been voluntarily wound up and that staff had lost their jobs. The owners…
The IBBI has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals, and sought stakeholders’ comments by July 1. These changes will reduce the amount of information and data that insolvency professionals (IPs) need to submit, thereby enhancing efficiency and reducing redundancy.The Insolvency Bankruptcy…
Sydney advisory firm McGrathNicol Restructuring have announced the appointment of voluntary administrators of Certain Insitec Entities. Youre out of free articles for this month Login Sign up To continue reading the rest of this article, please log in. Create free account to get unlimited news articles and more! Barry Kogan and Damien Pasfield (partners) will…
Dunedin craft chocolate company which once raised $2m through equity crowdfunding faces ‘financial uncertainty’ and can trade for only ‘short amount of time’. A special meeting to consider a resolution to appoint a liquidator will be held later this month. Directors of Dunedin craft chocolate company Ocho are proposing voluntary liquidation because the business faces…
Dunedin craft chocolate company OCHO has announced it is seeking voluntary liquidation with “no prospect of achieving future profitability under the current business model”. In a statement, OCHO Limited said the new board notified staff and shareholders that the company is “unable to trade out of its current financial situation” and have requested a special…
Dunedin craft chocolate company Ocho faces the prospect of being put into voluntary liquidation. The directors of Dunedin craft chocolate company Ocho are proposing to wind up the company amid financial difficulties. The board today notified staff and shareholders that it was seeking voluntary administration, saying it believes the company is unable to trade out…
Prescription software company MediSecure has gone into liquidation less than a month after being hit by a ransomware cyber attack, with affected doctors still unsure what personal information was stolen. The company, which stopped processing PBS scripts last year after the Federal Government awarded a sole provider contract to long-time rival eRX, was still processing…
Its official the Lifestyle Store has been placed into voluntary administration with debts believed to be in the millions. At 15.05pm yesterday, the liquidator of Theatre At Home, and ROQO Pty Ltd moved to place the Lifestyle Store into liquidation. A few minutes later the CEO of both the Lifestyle store and Theatre At Home…
In a bid to expedite the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC), the government is mulling to reduce compliance burden on insolvency professionals (IPs). In a discussion paper floated on Monday, the Insolvency and Bankruptcy Board of India (IBBI) has proposed to streamline and reduce the number of CIRP…