Queensland battery developer Redflow has entered voluntary administration after failing to attract the equity support required to pursue its growth plans. Headquartered in Brisbane, Redflow designs zinc-bromine flow batteries and manufactures them in Thailand for commercial, industrial, and utility applications. The company said it had received significant commercial interest in its X10 battery and it was…
Lead time for insolvency resolution increases MSN Read the original article here
August 23, 2024August 23, 2024 Adani Power Ltd announced that they have received approval from the National Company Law Tribunal (NCLT) Hyderabad Bench for its Rs 4,101 crore resolution plan to acquire Lanco Amarkantak Power Ltd. This acquisition is a part of Lanco Amarkantak Power Ltd’s ongoing Corporate Insolvency…
The average time taken for the conclusion of the corporate insolvency resolution process (CIRP) has surged to 680 days, as of March 2024, from 611 days a year ago, official data shows. This primarily reflects the huge backlog of cases that the NCLT is finding difficult to grapple with, say experts. Finance Minister Nirmala Sitharaman…
Major construction company goes into voluntary administration MSN Read the original article here
Attributable to Virgin Australia Group CEO Jayne Hrdlicka: This is a difficult moment for Australian aviation with Rex entering voluntary administration and announcing the immediate suspension of its 737 jet operations. It is also a reminder of the challenging nature of our industry. Our team is now moving quickly to support Rex’s customers and people. …
Popular cabaret club company in liquidation owing millions Gold Coast Bulletin Read the original article here
A Queensland company has been forced into liquidation after a court issued a winding up order for the firm with its accumulated debt topping $16 million. Bundaberg Farming Co Pty Ltd collapsed after the New South Wales Supreme Court issued a winding up order and appointed liquidator Glenn Livingstone for WLP Restructuring. The company had…
2 min read Last Updated : Aug 23 2024 | 10:58 AM IST Shares price of Adani Power rose as much as 2.24 per cent at Rs 689 per share on the BSE in Friday’s intraday deals. The Adani share price soared after the Hyderabad Bench of the National Company Law Tribunal (NCLT) approved…
Number of bankrupt firms is at highest level in six years – Insolvency Service report Insider Media Read the original article here