The related party term loans – recorded at $6.7 million in liquidation reports – are due for repayment in December 2024 and December 2025. The funds are required to satisfy Tui’s liabilities, consisting mainly of $4.59m claimed by the Inland Revenue. In April the BDO liquidators of Tui Terraces were confident the loans would be…
In March this year, after 14 years in business, Glen Iris taproom and brewery Deeds entered voluntary administration. In May, founders Patrick Alé and Dave Milstein closed the taproom and brewing operations. Now, they’ve found a way to keep the Deeds taproom and its brewing operations running until February 2025. Deeds and its creditors have…
Prosperous beginnings Sustainable Foods has been operating since 2018 when the company developed a range of plant-based alternative meat products under the brand plan*t. Products included plant-based chicken, sausages, mince and burger patties, using hemp as a main ingredient. The company was successful in its crowdfunding campaign in 2022, raising $2.28m to drive business growth…
The Australian fashion label Dion Lee has called in the administrators in a major blow to the eponymous brand that has dressed celebrities such as Taylor Swift, Dua Lipa, the Duchess of Sussex and Troye Sivan. The move came after the Australian retail chain Cue announced it had withdrawn its investment in the designer apparel.…
When much of the world’s economy shut down after the outbreak of COVID-19 in 2020, businesses across the U.S. were on the ropes. In total, 639 U.S. corporations went bankrupt that year, according to an analysis by S&P Global. Despite the Federal Reserve slashing interest rates to near zero and Congress unveiling the $2.2 trillion…
New Delhi: Crisis-ridden BYJU’s has moved the National Company Law Appellate Tribunal (NCLAT) against the recent order of NCLT that allowed cricket board BCCI’s petition for initiating insolvency proceedings against the once-famed edtech company, sources said. Sources privy to the development said that the company is seeking an urgent hearing on the matter. BYJU’s did…
Aanya Parusomula Limited, the franchisee of Subway in Waipukurau, has been placed in liquidation. Photo / Michaela Gower The franchisee that ran Waipukurau Subway has been placed into liquidation, with the eatery closed until further notice. The company, Aanya Parusomula Limited, was placed in liquidation on the application of Inland Revenue Christchurch at Auckland High…
New Delhi: The Bengaluru bench of the National Company Law Tribunal (NCLT) Tuesday accepted the Board of Control for Cricket in India’s (BCCI) application to initiate corporate insolvency proceedings against Think & Learn Private Ltd, the parent company of ed-tech firm Byju’s. The BCCI, responsible for managing professional cricket in the country, filed an insolvency…
Australia’s first commercial plant protein manufacturer, Proform Foods, has gone into voluntary administration. Gayle Dickerson and James Dampney from KPMG Australia have been appointed administrators. The appointment of administrators covers Proform Food Group, Proform Innovation, Proform Gourmet, and Proform Foods. The company manufactures plant-based protein products under the MEET, Protein Plate, and Bad Hunter brands.…
Two former directors, turnaround specialists and an opportunistic crypto investor. Welcome to the eclectic bidder fray for embattled airline Regional Express, better known as Rex. Street Talk understands a fleet of parties has lobbed indicative offers for Rex three weeks after the airline was plunged into voluntary administration, fanning the debate about whether Australia can…