Eight out of ten companies entering insolvency in the first three months of 2019 were incorporated more than five years ago, new figures show. The data, which has been compiled by Deloitte, indicates that 195 companies entered insolvency during the first quarter, a marginal increase on the 188 insolvencies recorded for the same period a…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
The Insolvency and Bankruptcy Board of India (IBBI) proposes to make the legal regime around withdrawal of resolution applications under the Insolvency and Bankruptcy Code (IBC) more practical. This, in turn, will give the original promoters a wider opportunity to seek resolution outside the IBC process and thereby gain back control of their companies. Plans…
NEW YORK, May 09, 2019 (GLOBE NEWSWIRE) — New York REIT Liquidating LLC (the Company or the LLC), which was formed to complete the liquidation of the assets previously held by New York REIT, Inc., announced today it has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019. All per…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
Following the National Company Law Tribunal (NCLT) directive, Reliance Communications (RCom) on Wednesday informed the stock exchanges that the administration of the corporate debtor would be taken over by the interim resolution professional (RP) and the corporate insolvency resolution process (CIRP) would resume. The powers of the board of directors or the partners of…
Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Uttam Value Steels Ltd. hereby informs your good offices that on May 7, 2019, the Resolution Professional of Uttam Value Steels Ltd. has filed an Application with the Adjudicating Authority for approval of the Resolution Plan submitted by a consortium of…
Even as the National Company Law Tribunals (NCLT) remain over-burdened with innumerable litigations, the four-year old Insolvency and Bankruptcy Code (IBC) is expected to improve realisations for financial creditors to over 80,000 crore by fiscal year 2020, compared to about 66,000 crore recoveries last year, said ratings agency ICRA Ltd. in a press note. That…