The amount lawsuits against Steinhoff reflects a company “heading towards liquidation, says prominent stock broker Petri Redelinghuys. In a note to shareholders, Steinhoff says it it is facing at least four lawsuits totalling over R60 billion. Redelinghuys says shareholders sue to ensure that jump the line of debtors a company has to pay. Steinhoffs latest note…
Cheshire-based online video game shop Gameseek has gone into liquidation – leaving angry customers out of pocket. The letter sent to Gameseek customers today. Gameseek’s website is currently offline, and emails to staff return “address not found” messages. Emails and calls to CEO Stephen Staley went unanswered at the time of publication. Gameseek’s closure has…
Jaiprakash Associates and its subsidiary Jaypee Infratech on Wednesday filed an appeal in the Supreme Court to restrain the Allahabad bench of the National Company Law Tribunal from passing any order of liquidation or issuing any direction against the latter without seeking the Courts approval, according to a copy of the application seen by Moneycontrol.…
Iconic Australian designer brand Metalicus has been forced into voluntary administration after almost five decades of success. The brand, founded by Melma Hamersfeld, shared the sad news in an email to its customers on Wednesday night. ‘Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to…
Iconic Australian designer brand Metalicus has been forced into voluntary administration after almost five decades of success. The brand, founded by Melma Hamersfeld, shared the sad news in an email to its customers on Wednesday night. ‘Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to…
The New Zealand Shareholders Association (NZSA) wants CBL Corporation to be liquidated and for the Financial Markets Authority (FMA) to step in and back investors. The organisation says shareholders will have more options to secure residual value from the NZX and ASX-listed company if it is liquidated. If litigation is found to be necessary the liquidators…
Australian fashion brand Metalicus has become the latest victim of the tough retail environment and has fallen into voluntary administration. In an email sent to customers on Wednesday evening, the brand announced it has entered into voluntary administration and will be launching a nationwide sales campaign to get rid of stock. The…
Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. (Website) Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. The company is facing insolvency proceedings after it…
Australian fashion brand Metalicus has entered voluntary administration and will today begin a major sale across all of its outlets. In an email to customers on Wednesday evening, the company acknowledged the difficult period for our staff and customers, as it explained plans to launch a sale event at all of its flagship stores, Myer…
A top restructuring and insolvency lawyer has traded a global firm for another in Singapore. Wither KhattarWong (WKW), the Singapore Alliance firm of Withers, has appointed Justin Yip as a partner in its dispute resolution team. Yip came from Morgan Lewis Stamford, the alliance firm of Morgan, Lewis & Bockius in the city-state. As Singapore…