Activewear label enters administration with $640k of claims

A popular women’s activewear business that is headquartered in Noosa has entered voluntary administration, with creditors claiming they are owed more than $640,000. Exotic Athletica Pty Ltd appointed administrators on April 9, a notice with the Australian Securities and Investments Commission states. The company operates the fashion label Exoticathletica, which according to its website was…

Leeds practice goes into liquidation

The Leeds-based practice, formerly known as 2B Architecture, designed major housing schemes for developers such as Igloo Regeneration, Citylife and Citu – as well as a plan for Yorkshire’s tallest building and an 8,000 seat arena in Edinburgh.  But the company, whose accounts show it employed up to nine people in 2020, stopped trading on…

WyndyMilla founders save custom bike specialist and Spoon Customs from liquidation, but insist: “There is no grand plan as of yet”

The founders of British custom bike specialist WyndyMilla, whose parent company Spoon Group entered liquidation late last year, have announced that they have acquired the business and its remaining assets, alongside sister brands Spoon Customs and Gun Control Custom Paint. In a boost for the British cycling industry, Henry Furniss and Nasima Siddiqui, who sold…

No Provision Under IBC Mandating Resolution Professional To Share Valuation Report With Suspended Management Of Corporate Debtor: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) has held that there is no provision in the Insolvency and Bankruptcy Code, 2016 (Code), that mandates the valuation report to be shared with the suspended management of the Corporate Debtor. Therefore, the…