The World Game understands Brisbane are on the brink of financial collapse unless owners the Bakrie Group can provide an instant and significant cash injection to the club. Cobb was sacked on Wednesday by the Bakrie Group. The extent of the problems he has left behind are only just coming to light. With six weeks…
Adelaide steel fabrication and roofing maintenance company CSM Steel has appointed voluntary administrators. Earlier this week the company’s directors appointed administrators Martin Lewis and Tim Mableson of Ferrier Hodgson to assess the business’s financial position. The company has a workforce of up to 55 employees and sub-contractors. Mr Lewis said in a statement an…
Eagle Boys has fallen. Picture: Jono Searle EAGLE Boys Pizza has collapsed into voluntary administration. The nations third-largest pizza chain behind Dominos and Pizza Hut confirmed the news in a statement on its website on Friday afternoon. The Eagle Boys Dial-a-Pizza Pty Ltd (Eagle Boys) Board of Directors confirm the Australian Head Franchisor has been…
Aug. 16, 2016 2:24 p.m. ET MADRIDRenewable-energy and engineering company Abengoa SA said Tuesday it expects at least 75% of creditors to approve its restructuring plan by Sept. 30, a key hurdle for the company as it aims to stave off what would be Spains largest-ever corporate bankruptcy. Abengoa said in a regulatory filing that…
Unknown didn’t crimp the company’s confidence as it raised its earnings guidance for the more So far, so good for Dicks Sporting Goods overcoming the expected sales slump from the liquidations of two of its competitors, The Sports Authority and the Sports Chalet. The Findlay-based sporting goods retailer reported a quarter better than expected and…
Ten Alps which in May won a Bafta award for its documentary The Murder Detectives has signalled trouble within the business over the past few months. In June it said a substantial investor had agreed to extend the term of a £750,000 loan, and at the start of July chief executive Mark Wood stepped down with…
Dreamin’ retailers are running on borrowed time. There are too many marginal retailers out there, according to Michael Carrafa, the executive director of insolvency firm SV Partners. “Everyone has a dream,” he said of the sector’s enduring appeal despite its thin margins. Dreamin’ retailers are on borrowed time. Photo: Supplied SV Partners has warned that a large supermarket or grocer, two…
Insolvency statistics for England and Wales, for the period April to June 2016, show that total company insolvencies were lower than the previous quarter, and decreased on the year. This was mainly driven by a decrease in compulsory liquidations. Andrew Tate, president of R3, the trade body for insolvency professionals, cited the cheapness of the…
Three recruitment companies have been returned to their directors, after parent company Rubicor Group secured a deal with creditors to bring the companies out of voluntary administration. Rubicor Group is one of Australias largest recruitment companies and is listed on the Australian Securities Exchange. The group, which was founded in 2005, operates 15 specialist brands…
Overview Comment The liquidation of a limited liability company (LLC) is undoubtedly a complicated and lengthy process, but nonetheless includes many safeguards to guarantee the rights and obligations of the company with regard to third-party debtors and creditors. Below are the main steps required in the liquidation process for LLCs registered in Baghdad or…