SINGAPORE – Water cleaning firm Hyflux faced its grey-haired creditors on Friday (Jan 18) for the second time since it filed for bankruptcy protection, in a bid to rally support to carry through what has proven to be a tough rescue deal. No definitive answers were given when investors asked repeatedly how much of their…
Four days after Indias biggest lender rushed to sell its outstanding advances to Essar Steel, New Delhi appears to be stepping in to help expedite the resolution of top 12 default cases that make up about a fourth of the countrys bad-loan pile. The government has called a meeting on Monday with the resolution professionals…
With the reference to our earlier intimation notice dated 14th January, 2019 for 14th meeting of theCommittee of Creditors (COC) which was scheduled to be held on l8h January, 2019 at 11:30 am, wehereby inform you that the same meeting has been postponed and it is rescheduled on Tuesday, 22ndJanuary, 2019 at 03:00 pm at…
Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly note that the first Meeting of Committee of Creditors (COC) was held on January 11, 2019 to discuss inter alia the agenda item relating to continuation/appointment of Mr Shailendra Ajmera appointed as the Interim Resolution Professional by the Honble…
LuLaRoes chief clothing supplier, Providence Industries, has demanded that a court immediately seize nearly $US34 million in assets from the company. The demand, made in court filings on Tuesday, cites testimony from nine former LuLaRoe consultants who claim LuLaRoe collectively owes them more than $US63,000 in refunds for unsold inventory that they returned to the…
Menswear chain Ed Harry has been placed into voluntary administration following a particularly tough Christmas sales period. KPMGs Brendan Richards and Gayle Dickerson were appointed voluntary administrators of the business on Tuesday and will immediately embark on a clearance sale of existing merchandise. Its understood all 87 stores across Australia will operate as normal while…
Dear Sir / Madam, We would like to inform you that 09th meeting of Committee of Creditors of Sterling Biotech Limited was held on Monday, 14th January 2019 at 11.00 A.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India. As per the resolution process of Sterling Biotech…
Last year was yet another dismal 12 months for the retail industry in Australia and just two weeks into 2019, Ed Harry has joined the long list of companies to pull up stumps. On Tuesday, KPMGs Brendan Richards and Gayle Dickerson were appointed voluntary administrators after a particularly tough Christmas sales period for the chain,…
Maddocks has appointed a second partner in a month. Danielle Funston is joining the independent firm in Sydney, making the move from K&L Gates, where she is a partner. She was also previously a senior associate at Norton Rose Fulbright. Funston adds to Maddocks restructuring and insolvency expertise. She advises clients on recoveries, liquidations, corporate…
Share this: BestJet, a Queensland-based airline booking company, went into voluntary administration in December 2018, leaving many Australian customers badly out of pocket. Thousands of Australians who had outstanding bookings with the company have been told they have no tickets and are now left arguing with multiple parties trying to secure a refund. In this…