AHMEDABAD: The Gujarat High Court dismissed Essar Steels plea against the Reserve Bank of India directive asking lenders to initiate bankruptcy proceedings against the debt-laden company, observing that the regulator and banks are empowered to do so, giving a boost to the governments efforts to clean up the countrys bad-loan mess. But the court cautioned…
The corporate regulator has raised concerns about KordaMentha’s independence ahead of its appointment as administrator to Network Ten, at a hearing in the Federal Court on Monday. The hearing was called by KordaMentha to apply for an extension of the administration period, an uncontroversial move that is likely to be granted. Play Video Don’t Play Ivanka…
The corporate watchdog has dramatically intervened in the collapse of the Ten Network, as lawyers for Lachlan Murdoch, James Packer and Bruce Gordon trade barbs over whether Ten administrators Korda Mentha are conflicted. On Monday, the insolvency firm successfully asked the Federal Court to push back a critical second creditors meeting where Ten’s future will…
Share: Facebook Twitter If successful, the Governments petition to have the High Court wind up CL Financial (CLF) will put many companies on the market.At one point, CLF, then chaired by Lawrence Duprey, was the most powerful conglomerate in T&T, a billion dollar enterprise with international companies born out of an…
A BUNDABERG retailer has been forced to close after a move to a new prime CBD location failed to boost flagging sales. J & A Davis Pty Ltd, trading as Bundy Hobbies and Toys, went into voluntary administration last month after receiving a statutory demand from the company’s major supplier, which it was unable to…
AHMEDABAD: Essar Steel has told the Gujarat High Court that its lenders did not initiate bankruptcy proceedings against the steelmaker before the Reserve Bank of Indias June 13 order because of concerns that such a measure would jeopardise the companys operations. The company, one of the 12 earmarked by the central bank for initiating loan…
The ongoing insolvency heat has caught on the renewable energy space with Inox Wind being put under corporate insolvency resolution process. In a rare instance, a customs agent, Jeena & Company, has dragged Inox to National Company Law Tribunal (NCLT) over non-payment of invoices totalling Rs 57 lakh. At the same time, Inox…
The ailing Ten network is now in voluntary administration. But this does not spell the end of Australia’s third-ranked broadcaster. Contrary to social media speculation, Ten is not about to shut down. If you tune in tonight, you’ll still see Family Feud, The Project and MasterChef. Play Video Don’t Play Private Sydney: Roxy Jacenko’s offices paint-bombed Play…
Luxury smartphone manufacturer Vertu is reportedly shutting down its UK manufacturing arm and is facing liquidation after plans to save the exclusive phone brand failed, leaving the company with a reported £128 million ($AU214 million) accounting deficit. The Telegraph reports nearly 200 jobs will be lost as a result of the shutdown of the UK…
Latest News Queensland based Baralaba Coal, formerly known as Cockatoo Coal, has entered into voluntary administration this week, the second time this has happened in as many years. This comes after the company failed to raise $77 million with a share entitlement offer. Baralaba Coal appointed Jason Preston, Shaun Fraser and William Harris, all partners…