Marine engineering company goes bust owing more than $3 million – Stuff.co.nz

Liquidation

Colin Smith Nelson Reliance Engineering Ltd, owned by Nevil Basalaj (pictured), owes more than $3 million to around 200 creditors, a liquidators’ report shows. Nelson Reliance Engineering, once a key player in the region’s marine engineering industry, has gone into liquidation, owing more than $3 million. The boat-building business, owned by Nevil Basalaj, owed around 200 creditors a total of $3,195,316.50, the liquidators’…

Mossgreen administrator report recommends criminal charges be considered, alleges bosses withdrew from ‘client … – ABC Online

Liquidation

In a revealing insight into the unregulated art auction industry, the administrator’s report for the failed Mossgreen art auction house alleges the company breached nine separate sections of the Corporations Act. The 100-page report, prepared over four months and distributed to more than 300 creditors this week, found the company once the nation’s biggest…

Proposed changes in IBC may allowwithdrawal of insolvency application – Business Line

Liquidation

Soon there may be a provision to withdraw the application for initiating Corporate Insolvency Resolution Process (CIRP), post admission. This is part of the proposed changes that the government is contemplating for the Insolvency and Bankruptcy Code (IBC) through the Ordinance route. The Union Cabinet will most likely consider an Ordinance for this purpose at…

NCLT reserves order in Binani Cement’s insolvency resolution … – Business Line

Liquidation

The Kolkata Bench of National Company Law Tribunal (NCLT) on Tuesday reserved its order in the ongoing corporate insolvency resolution process of Binani Cement. The Division Bench completed hearing all petitions excepting the one filed by the Resolution Professional (RP) alleging fraudulent transactions involving the promoters of Binani Cement. A total of 14 petitions were…

Jamie Oliver’s Australian restaurant group in voluntary administration – PerthNow

Liquidation

JAMIE Oliver’s business woes have deepened with his Australian restaurant group falling into voluntary administration. The celebrity chef’s UK restaurants have been in financial strife amid rising costs and consumer caution, partly as a result of the Brexit vote, and his Canberra venue has now been closed. The Jamie Oliver Restaurant Group Australia, which operated…

NCLT reserves order in Binani Cement hearing – Hindu Business Line

Liquidation

The Kolkata bench of National Company Law Tribunal (NCLT) on Tuesday reserved its order in the ongoing corporate insolvency resolution process of Binani Cement. The Division Bench completed hearing all petitions excepting the one filed by the Resolution Professional (RP) alleging fraudulent transactions involving the promoters of Binani Cement. The 270-days moratorium period for Binani…