SUMMARY Zomato’s parent Eternal announced that its step-down subsidiary in the Netherlands, Zomato Netherlands, has initiated its liquidation process Zomato Netherlands’ turnover was nil in FY24, while its net worth stood at INR 32 Lakh. The liquidation of the subsidiary is expected to be completed within one year With this, Zomato has effectively shut down…
According to their first liquidators report, Wilson Barbecue was placed into liquidation due its inability to meet its current debt levels as they fell due. “The company’s insolvency resulted from the current economic environment in the food retail industry, which led to diminishing cash flow,” the liquidators said. Inland Revenue is owed $644,192, however, the…
Australian corporate insolvency reform: What can we expect in 2023? | Australia | Global law firm Norton Rose Fulbright Read the original article here
Bankruptcy is the busiest federal court in the U.S. Last year, more than 200 companies with at least $50 million in liabilities filed for bankruptcy, according to Bloomberg. That’s the second most since just after the Great Recession in 2009. A new book argues that bankruptcy has become a “Swiss Army knife” or “escape hatch”…
Last year, credit-risk B-grade companies increased 24% in a year, raising concerns about companies falling into bankruptcy due to the largest external situation ever 사진 확대 The corporate building from Namsan Mountain in Seoul. The photo and the article are not relevant. [Photo = Yonhap News] Among domestic companies, the number of marginal companies that…
Sharvain Facades goes into voluntary administration MSN Read the original article here
Despite ‘Clean Slate’ Rule, Taxmen Pursue New Claims Against Insolvent Companies Tax officers are sending new tax notices to companies that have already been taken over after going through the insolvency process. This goes against the “clean slate” rule in the Insolvency and Bankruptcy Code (IBC), which says that once a company is rescued, all…
The National Company Law Tribunal, Kolkata bench, consisting of Smt. Bidisha Banerjee (Member – Judicial) and Cmde Siddharth Mishra (Member – Technical), has allowed an application filed under Section 7 of the IBC seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. The bench held that the financial debt exists where…
Hansells Masterton has been part of the local community for 75 years. Photo: RNZ / Cole Eastham-Farrelly Masterton Mayor Gary Caffell is “gutted” to hear about 100 jobs could be on the line, as an iconic New Zealand food products business goes into liquidation. Hansells Masterton has been tipped into receivership by a company owned…
The National Company Law Tribunal (NCLT), Bengaluru Bench, consisting of Shri. Sunil Kumar Aggarwal, Member (Judicial), and Shri. Radhakrishna Sreepada, Member (Technical), admitted a petition filed under Section 7 of the IBC, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution…