ROCKWELL Diamonds has suspended operations at its Wouterspan plant in South Africas Northern Cape following a contract dispute with a mining contractor that has subsequently applied for the liquidation of Rockwell subsidiary companies. The mining contractor C-Rock Mining (CML) has also filed for a spoliation order which, if granted by the court, sees certain equipment…
DESPITE Payless Shoes moving in voluntary administration nationally, it is understood the Gympie store will continue to operate in the indefinite future. While staff at the store are unable to directly comment, according to a media spokesman a number of decisions on the final outcome of the process still need to be decided. “Payless Shoes…
Under the proposed new rules a business would be given up to four months “breathing space” from enforcement actions from creditors to give it time to negotiate debt restructuring, the Commission said. Minority creditors and shareholders should not be able to block restructuring plans, although their “legitimate interests” will be protected, it said, while workers…
The IBBI has notified two sets of regulations. The Dollar Business Bureau The Insolvency and Bankruptcy Board of India (IBBI) on Wednesday notified two regulations; one of them will allow not-for-profit companies having a minimum net worth of Rs 10 crore to act as an insolvency professional agency under the Insolvency and Bankruptcy Code. The…
Unicase provided full support during the liquidation of the representative office of a German company in Kazakhstan, the worlds leading provider of products and services for dialysis treatment. Assistance included preparation of documents, assistance with governmental agencies on the process of liquidation, advising on termination of labour relationships and other issues. The Unicase team was…
Today’s Homes, the Fyshwick building company that went into voluntary liquidation on Tuesday, is not expected to survive. “There will be no ability for Today’s Homes to trade through this. At best, we will be taking a project by project approach,” voluntary administrator, Eddie Senatore of Deloittes Restructuring Services, told Fairfax. Brendan Howe, of twenty20…
ANNETTE TURNBULL-DEW/FAIRFAX NZ Paul Clifford Hibbs, pictured in 2001, is being investigated by the Serious Fraud Office. A company being investigated by the Serious Fraud Office as a possible ponzi scheme has been placed in liquidation. The order liquidating Hansa Ltd was made by High Court Associate Judge Rob Osborne in Christchurch on Thursday. The…
ANNETTE TURNBULL-DEW/FAIRFAX NZ Paul Clifford Hibbs, pictured in 2001, is being investigated by the Serious Fraud Office. A company being investigated by the Serious Fraud Office as a possible ponzi scheme has been placed in liquidation. The order liquidating Hansa Ltd was made by High Court Associate Judge Rob Osborne in Christchurch on Thursday. The…
Aberdeen oil and gas firm Xcite Energy has confirmed a request has been made to the Eastern Caribbean Supreme Court in the British Virgin Islands requesting, amongst other things, that the company be placed into liquidation. The hearing is scheduled for December 5. Xcite Energy announced the court action update at 4pm on Tuesday. Shares…
New Delhi, Nov 23 (PTI) Not-for-profit companies having a minimum net worth of Rs 10 crore will be eligible to act as an insolvency professional agency under the Insolvency and Bankruptcy Code. Moving ahead with implementation of the Code, two sets of regulations have been notified by the Insolvency and Bankruptcy Board of India (IBBI).…