We are in receipt, through a lawyer firm, of the copy of application filed by Bank of Maharashtra under the Insolvency & Bankruptcy Code, 2016 for an amount of Rs. 521.97 Crore. The Company is in process of taking legal advice to deal with the same. In this connection, it is also hereby pointed out…
Four companies related to Bella Vista Homes have been put into liquidation by Inland Revenue this week. Project Management Limited, Live Wire Limited, Lakes Engineering Limited and Ground Effects Limited were appointed a liquidator in the Hamilton High Court on Monday. Former Bella Vista boss Danny Cancian is the sole director and shareholder of all…
The Hyderabad-based construction company IVRCL Ltd is now headed for liquidation, after a resolution plan failed. The Resolution Process, which was moved by the main lender SBI, in the National Company Law Tribunal, Hyderabad, went through the Corporate Insolvency Process under the Insolvency and Bankruptcy Code, 2016. After the Committee of Creditors, which went through…
Image copyright Cambrian Sovereign Image caption Cambrian Sovereign built park and leisure homes for domestic and commercial clients More than 50 jobs have been lost after a company that built luxury holiday cabins went into liquidation. Cambrian and Sovereign Holding Group Ltd, owners of Cambrian Leisure Homes, was based in Coventry but built its cabins…
While there has been one redundancy to date, administrators of the Sporties club in Dubbo say their aim is to save the club and jobs during the voluntary administration process. The Dubbo Railway Bowling Club Ltd, trading as Sporties Dubbo,announced they had entered into voluntary admission on November 15 on Tuesday November 20. The clubs…
KKR and Bain Capital, the private equity firms that owned Toys R Us before the company declared bankruptcy earlier this year, said Tuesday that they have each pledged $10 million to create the TRU Financial Assistance Fund, which aims to distribute severance funds to former employees. The move is unusual for the firms, as they…
Melbourne-based unlimited NBN retail service provider Mungi has gone into voluntary administration just a year after it was created. The companys website was replaced with a message today that blamed economic conditions for the collapse. However, in a Whirlpool post, Mungi attributed its collapse to an inability to achieve the scale required to compete in…
The Dubbo Railway Bowling Club Ltd, trading as Sporties Dubbo, has entered into voluntary administration. The club entered administration on November 15. Aaron Lucan and Graeme Beattie, partners of Worrells Solvency and Forensic Accountants NSW & ACT, have been appointed as the administrators. The club, which operates out of premises at 101 Erskine Street fell…
Another construction company has gone under, owing millions of dollars and leaving a handful of private and public sector projects in the lurch. Accent On Group has gone into receivership. Photo: 123rf All divisions of the Accent On Group are in receivership, while the construction division is also in liquidation. Liquidators from Staples Rodway, Tony…
The Dubbo Railway Bowling Club Ltd, trading as Sporties Dubbo, has entered into voluntary administration. The club entered administration on November 15. Aaron Lucan and Graeme Beattie, partners of Worrells Solvency and Forensic Accountants NSW & ACT, have been appointed as the administrators. The club, which operates out of premises at 101 Erskine Street fell…