Category Archives: Liquidation

Electrical company Russell-Smith collapses into voluntary administration two years after being rescued from receivership – SmartCompany.com.au

Tasmanian electrical and communications company Russell-Smith has ceased trading, after being placed in the hands of external managers at the end of last year. Stewart Free and Bradd Morrelli from Jirsch Sutherland were appointed as voluntary administrators to Russell-Smith Pty Ltd on September 22. It comes only two years after the companys former parent company,…

Best Oracle makes another try to stop CLIQ’s liquidation – The Star Online

CLIQ’s proposed acquisition of 51% in Phystech II Joint Stock Company fell through earlier this year. The photo shows Phystech’s manifold and testing facility at the oilfield in Kazakhstan. KUALA LUMPUR: CLIQ Energy Bhds biggest shareholder Best Oracle Sdn Bhd applied on Monday to hold an EGM to stop CLIQ from being liquidated, the same…

Illegal phoenix activity is costing us billions – here’s how it could be stemmed – The Conversation AU

A proposal designed to stop illegal phoenix activity being actively considered in New Zealand could be similarly adopted in Australia, potentially saving billions of dollars. Illegal phoenix activity which involves directors intentionally liquidating companies after shifting their assets to new (phoenix) companies to defraud taxation authorities, trade creditors and employees is widespread in Australia. A…

Monday Interview: Neil Harrold of R3 and Hay and Kilner – ChronicleLive

Swapping the west coast of Australia for North East England isnt a choice thats made by many, but for Neil Harrold, its one that has served him well for over a quarter of a century. Born, raised and educated in Western Australias state capital Perth, Mr Harrold qualified as a solicitor and barrister there before…

EMRISE CORPORATION Announces Estimated Date and Amount of Third Liquidation Dividend Distribution to … – GlobeNewswire (press release)

WOODBRIDGE, N.J., Sept. 23, 2016 (GLOBE NEWSWIRE) — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), today announced that the Company expects to make a third liquidation dividend distribution to its stockholders totaling approximately $1,300,000, or $0.120 per share during the week of October 24, 2016 (the Distribution).  When…

Options for the distressed depositor – The Hindu

Depositor can move the National Company Law Tribunal (NCLT) seeking an order under Section 73 (4) of Companies Act, 2013 directing the defaulting company to pay the dues. Aggrieved depositors can form an association and move a class-action suit (under the Company Law) against the defaulting company An individual depositor can as a financial creditor…

EMRISE CORPORATION Announces Estimated Date and Amount of Third Liquidation Dividend Distribution to … – GlobeNewswire (press release)

WOODBRIDGE, N.J., Sept. 23, 2016 (GLOBE NEWSWIRE) — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), today announced that the Company expects to make a third liquidation dividend distribution to its stockholders totaling approximately $1,300,000, or $0.120 per share during the week of October 24, 2016 (the Distribution).  When…

EMRISE CORPORATION Announces Estimated Date and Amount of … – Nasdaq

WOODBRIDGE, N.J., Sept. 23, 2016 (GLOBE NEWSWIRE) — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), today announced that the Company expects to make a third liquidation dividend distribution to its stockholders totaling approximately $1,300,000, or $0.120 per share during the week of October 24, 2016 (the…

EMRISE CORPORATION Announces Estimated Date and Amount of Third Liquidation Dividend Distribution to … – EconoTimes

EMRISE CORPORATION Announces Estimated Date and Amount of Third Liquidation Dividend Distribution to Stockholders Friday, September 23, 2016 12:45 PM UTC WOODBRIDGE, N.J., Sept. 23, 2016 — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), today announced that the Company expects to make a third liquidation dividend distribution to…

Hughes Drilling enters administration – Business News

The parent company of Perth-based mining services company JSW Australia has entered voluntary administration, with representatives of McGrathNicol appointed yesterday. Jason Preston, Shaun Fraser and Jamie Harris were appointed as administrators of Brisbane-based Hughes Drilling, with the intention of keeping the business in operation while they undertake a financial and operational assessment of the firm.…