A second attempt in the Auckland High Court to place Gulf Harbour Country Club’s owner Long River Investments into liquidation has failed, after the company paid what was owed. The first attempt, in May, by Inovagen which operated the café at the former club, sought $20,000-$25,000. That amount was paid at the last minute. This…
The ASX is set to become a hunting hotspot for private money as cashed-up global funds zero in on distressed companies. That’s the view of White & Case restructuring partner Timothy Sackar amid a spike in corporate insolvencies in Australia. Loading… Read the original article here
Lenders begin bankruptcy proceedings against India’s Byju’s Reuters Read the original article here
In August 2020, GVK Power announced that it and its airport business-related subsidiaries had agreed to cooperate with Adani Airport Holdings. 4 min read Last Updated : Jul 24 2024 | 2:56 PM IST Hyderabad-based GVK Power and Infrastructure, once the GVK conglomerate’s crown jewel, is now under the insolvency process. Long before this…
A Queensland company whose global award-winning and Arena-funded distributed energy optimisation technology underpinned Australia’s largest commercial solar and battery microgrid has been placed in liquidation. Elexsys Energy, trading in Australia as Planet Ark Power, launched onto the scene in 2019 with plans to transform Australia’s legacy one-way grids into two-way renewable powered smart grids without…
Waipukurau Subway closed as franchisee put into liquidation MSN Read the original article here
The England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a 2020 innovation in UK insolvency law, as described in our earlier alert. At first instance, the…
Latest figures from the Insolvency Service have shown that there were 2,191 business insolvencies in England & Wales in July 2024, 7.3% lower than in June 2024 (2,363) but 15.9% higher than the same month in the previous year (1,890 in July 2023). The insolvencies consisted of 320 compulsory liquidations, the highest monthly number since…
Aussie battery maker Redflow goes into administration Renewables Now Read the original article here
The related party term loans – recorded at $6.7 million in liquidation reports – are due for repayment in December 2024 and December 2025. The funds are required to satisfy Tui’s liabilities, consisting mainly of $4.59m claimed by the Inland Revenue. In April the BDO liquidators of Tui Terraces were confident the loans would be…