Written by Sunny Verma | New Delhi | Published:September 6, 2017 1:26 am Amrapali Silicon City has defaulted on total repayment of Rs 71.15 crore, which comprise Rs 59.38 crore of principal overdue and Rs 11.77 crore of interest and penal interest. The National Company Law Tribunal (NCLT) has appointed Rajesh Samson of Deloitte Touche…
Barely a week after the collapse of embattled surf and skate wear retailer SurfStitch Group, administrators have received a proposal to restructure and relist the company an outcome that would preserve some value for long-suffering shareholders. The confidential proposal was received on Tuesday morning before the first SurfStitch creditors meeting at the company’s headquarters at…
Business News Legal Live Business By Chris Cooke | Published on Tuesday 5 September 2017 The company behind the two day Liverpool music festival Hope & Glory, which was called off half way through after severe over-crowding on day one, resulting in a series of car crash communications from organisers, has gone into liquidation. As…
The company behind a music festival that was cancelled on the second day has reportedly gone into liquidation. Hope & Glory Festival in Liverpool was pulled on 6 August following reports of overcrowding and acts that were cancelled at the last moment due to scheduling delays. Police were called to assist with an additional entrance…
Packer told Ten in January he wanted to pull out SYDNEY, AUSTRALIA – JUNE 14: It’s a dark for Channel Ten as the network announces it is entering voluntary administration on June 14, 2017 in Sydney, Australia. (Photo by Jessica Hromas/Fairfax Media) exit Ten Network’s board knew James Packer was not willing to continue as…
Ten Network’s board knew James Packer was not willing to continue as a shareholder guarantor a full six months before the company went under. A second creditor’s report released this week includes fresh detail on the demise of Ten including that Mr Packer had signalled in mid-January that he wanted no part in any new…
UPDATE, 8.30am: THE CFMEU is calling for a government inquiry into Roads and Maritime Services (RMS) tendering procedures after the collapse of the second sub-contractor on the Pacific Highway upgrade. Initial investigations by the CFMEU into the most recent collapse this week suggest a sub-contractor may have fraudulently provided statutory declarations claiming to have paid…
The family behind the failed Diploma Group and its provisional liquidators are seeking to have the company excluded from a potential wind-up order to attempt a rescue plan. A Federal Court judge is set to rule tomorrow on whether the builder-developer which collapsed last year and 19 other Diploma entities will be placed into liquidation.…
Turn to any pink newspaper, or for that matter even a general one, it is very likely that the front page will have something on the goods and services tax (GST) or the bankruptcy law. Not surprising, since these are the biggest and most impactful reforms of recent years. The common thread between the two…
NEW DELHI: The Supreme Court on Monday stayed the insolvency proceedings against real estate firm Jaypee infratech at National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI. It also issued notice to embattled firm and others on a plea filed by homebuyers who have not yet received possession of their dream…