The number of the unresolved cases is high even after IBBI had allowed exclusion of the lockdown period from the calculation of CIRP process last March. By Ankur Mishra The pandemic has affected the resolution process under the Insolvency and Bankruptcy Code (IBC) regime, which is in its fifth year. Latest data showed further delays…
While the full financial impact of the pandemic has yet to emerge, growing signs of corporate distress are expected to start emerging in the coming months. To get ahead of it, early engagement with lenders and appointing strong advisors can help companies avoid insolvency or costly restructuring, say Ocorians Alan Booth, head of capital markets…
One of Australia’s biggest and oldest live export companies has gone into voluntary administrationin a sign of how much pressure the industry is under. Key points: NACC goes into voluntary administration, owing around $3.6 million Record high domestic and live export cattle prices are putting pressure on exporters Export companies report losing between $200 and…
Bilshan Nursimulu of 5 Fifteen Barristers considers the Mauritius-based disputes that can arise from offs… Bilshan Nursimulu of 5 Fifteen Barristers considers the Mauritius-based disputes that can arise from offshore investments, particularly where debt is involved. Mauritius is home to offshore companies with total assets that amounted to USD 582 billion as at 31 December…
The North Australia Cattle Company, once one of Australias largest live cattle exporters, has been placed into voluntary administration, with debts owed to trade creditors of approximately $3.6 million. Notices of the appointment of administrators to North Australian Cattle Company Pty Ltd and its sister company Southern Australian Cattle Company Pty Ltd were published on…
Ms Holt, aware that Oroton is yet to fully shed its former reputation as corporate and somewhat staid, was candid in her hopes for the show: I worry that Oroton is not the edgiest, sexiest brand, which is what is normally on display at Fashion Week. Ive given it my best shot but who knows…
PANDEMIC costs and the high price of cattle have been named as key impacts leading to the placing of prominent live cattle exporters the North Australia Cattle Company, and its southern counterpart, into voluntary administration. The company, once the live export logistics business of Elders, has accumulated debts owed to trade creditors of approximately $3.6…
ASIC has banned John Carlton Martin, a director and former responsible manager of Union Standard International Group Pty Ltd (Union Standard) (in liquidation), from providing financial services for 10 years. ASIC has also disqualified Mr Martin from managing corporations for five years. ASIC found Mr Martins lack of understanding or regard for compliance was so…
Dewan Housing Finance Ltds erstwhile promoter Kapil Wadhawan has moved the Supreme Court, challenging the stay order passed by the National Company Law Appellate Tribunal (NCLAT) on his offer to lenders, according to two people aware of the matter. The NCLAT last week stayed the ruling of the National Company Law Tribunal (NCLT), which had…
On May 14, 2021, the Department of Justice of the government of the Hong Kong Special Administrative Region announced that the Secretary for Justice of Hong Kong and the Vice-president of the Supreme Peoples Court (the SPC) had signed the Record of Meeting on Mutual Recognition of and Assistance to Bankruptcy (Insolvency) Proceedings between the…