Since the pandemic, during which insolvency rates were low due to government measures, there has been a considerable rise in insolvencies in the UK and many other jurisdictions. High interest rates have significantly increased the cost of borrowing and many companies are saddled with mountains of debt that was taken out in better times and…
The Insolvency Bankruptcy Board of India has released a circular on the extension of time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016. The board has decided to extend the last date of submission of the liquidation and voluntary liquidation forms till December 31, 2024. Further…
Director of Birmingham fireworks retailer jailed after forging documents to pocket Covid loan and company funds Insider Media Read the original article here
BAKU, Azerbaijan, December 3. The European Cars LLC has announced its liquidation in Azerbaijan, Trend reports via the ‘Vergilar’ media outlet of the State Tax Service under the nation’s Ministry of Economy. The source notes that, in a merger with Dream Auto LLC, the company is being liquidated. To note, the European Cars was registered…
One of Australia’s most established private colleges has been placed under external administration, making it potentially the biggest institutional victim of the federal government’s international education crackdown. International House (IH), a 27-year-old college registered to teach around 10,000 overseas students, is under voluntary administration despite avoiding enrolment caps that would have limited it to less…
Solar company owes employees $1m but business trades on The Australian Read the original article here
The new Company Law, effective from 1 July 2024, has significantly impacted commercial entities, with shareholder responsibilities regarding capital contributions capturing the most attention. This article examines the duties of shareholders in companies that have entered bankruptcy liquidation or reorganisation under the new law, clarifying the boundaries of their responsibilities. Capital contribution responsibilities Kong Yiding…
Gloriavale Christian Community’s honey operation in liquidation BusinessDesk Read the original article here
Reason demolition company went bust revealed Geelong Advertiser Read the original article here
David Millar‘s cycling clothing brand CHPT3 has entered liquidation and ceased trading with immediate effect. A statement released on the company’s website confirmed the situation, saying that CHPT3 has “ceased to trade” while noting that their creditors will be contacted by insolvency practitioners Wilson Field Limited. “The Directors of CHPT3 Limited have instructed Wilson Field…