The corporate affairs ministry is working with the finance ministry, Reserve Bank of India and the Indian Banks’ Association (IBA) on the issue of the conduct of the committee of creditors under the insolvency resolution process, a senior official said on Friday. The role of Committee of Creditors (CoC) is crucial in deciding a resolution…
West Australian buildingcompany Jaxon Construction is entering liquidation, with operations within the group ceasing. Key points: The liquidator says it’s assessing six entities in the group The union says builders are taking contracts with too low margins It follows the recent collapse of another major builder Pindan The move affectsfour sites in Western Australia. Alarm…
KOLKATA: The National Company Law Appellate Tribunal (NCLAT) has admitted the appeal of McLeod Russel chairman Aditya Khaitan that challenged the order of the National Company Law Tribunal (NCLT) for starting a corporate insolvency resolution process for the company. However, NCLAT has not stayed the NCLT order for now, but asked the respondent Techno Electric…
A South West construction firm which went into liquidation leaving buildings unfinished has also left debts of more than 10m, it has been revealed. Henry W Pollard and Sons Ltd, which had been in business for 161 years, ceased trading in June 2021, leaving buildings such as Plymouths 13m Teesra House apartment block in limbo.…
On August 6, the National Company Law Tribunal (NCLT) had admitted an application filed by Techno for initiating corporate insolvency resolution process (CIRP) against McLeod. TopicsNCLAT|Techno Electric & Engineering|McLeod Russel The National Company Law Appellate Tribunal (NCLAT) has admitted an appeal filed by McLeod Russel promoter, Aditya Khaitan, against insolvency proceedings and will decide on…
Member Article The year-on-year level of corporate insolvency has risen for a third consecutive month, highlighting the continuing impact of the pandemic on North East businesses. The latest corporate insolvency figures for England and Wales reveal a 70.4% increase in Creditors Voluntary Liquidations in July compared to July 2020, suggesting an increasing number of directors…
Hundreds of employees and participants of one of Australia’s largest disability service providers face an uncertain future with the organisation entering voluntary administration. Key points: Disability Services Australia have appointed KPMG as their administrators DSA’sCEO says the company faced financial constraints, compounded by the pandemic Shadow NDIS Minister Bill Shorten says the federal government’s “savage…
Disability Services Australia is headed into voluntary administration, leaving questions about how much the disability support sector can take in the pandemic. (Image: Adobe) One of Australias largest disability service providers, Disability Services Australia (DSA), has gone into voluntary administration following financial constraints compounded by COVID-19. National Disability Insurance Scheme (NDIS) participants and support companies…
The year-on-year level of corporate insolvency has risen for a third consecutive month in the North East, highlighting the continuing impact of the pandemic on businesses in the region, according to a new report. The latest corporate insolvency figures for England and Wales reveal a 70.4 percent increase in creditors’ voluntary liquidations in July 2021…
The pandemic has taken its toll on one of Australias largest disability service providers with the organisation calling in administrators and leaving thousands of staff and participants across NSW in limbo. Disability Services Australia called in KPMG to oversee its voluntary administration on Wednesday, but moved to reassure participants and staff the organisation would continue…