The Insolvency and Bankruptcy Code, 2016, has a timeline of 270 days to complete the Corporate Insolvency Resolution Process (CIRP), including any extensions granted. This includes an initial 180 days, plus an additional 90 days in exceptional circumstances. As per the latest figures up to December 2023 released by the Insolvency and Bankruptcy…
DigiDirect’s owner Shant Kradjian has also confirmed his intent to hire 100 extra staff on top of those still remaining, administrators McGrathNicol Restructuring said today. Former staff are also encouraged to rejoin the company. Booktopia has been purchased by digiDirect. (Booktopia) “We are incredibly pleased to have completed the sale of the Booktopia business to…
The Association for Business Restructuring & Turnaround launches this week with the goal of accrediting specialists in company turnaround and setting professional standards. ABRT founder Eddie Griffith said the body would aim to address problems identified by the parliamentary insolvency inquiry and had sprung out of conversations between like-minded specialists. “We came up with the…
The Eel Screen Company Ltd. provided a false turnover to secure a £50,000 Bounce Back Loan in 2020, the maximum allowed under the scheme which was designed to support businesses during the pandemic Financial inconsistencies were also found in the company’s application for a £225,000 Recovery Loan Scheme loan almost two years later Investigations by…
Liquidators reveal home building company’s $300k debt to staff Geelong Advertiser Read the original article here
An Off Ya Tree location in Melbourne CBD’s Collins Street. Source: Google Maps The business behind alternative clothing, body piercing, and former bong retailer Off Ya Tree has fallen into liquidation, as the retail chain assures customers a dozen stores will remain operational. Con Kokkinos of insolvency firm Worrells was appointed as liquidator for Thendro…
Winding-up orders were made against five companies from the Sk:n Group of companies on Thursday 18 July 2024. The court appointed the Official Receiver, Joseph Sullivan, as liquidator of: Lasercare Clinics (Harrogate) Limited (company number 02545572) LCHMG Limited (company number 12325705) ABC Lasers Ltd. (company number 04795786) Cosmeceuticals Limited (company number 06114019) Cellite Clinic Limited…
Liquidators reveal home building company’s $300k debt to staff Townsville Bulletin Read the original article here
By Mike O’Connor | 21 May 2024 Momento Photo Books, the Sydney-based photo book publishing company, is to close after 20 years in business. The company confirmed it had gone into liquidation in a Facebook post last night. “Despite every effort to keep the business alive, economic conditions of the last few years sealed our…
Mark Stevens of Kurraba Point, NSW, today appeared at the Downing Center Local Court charged with dishonestly causing a financial disadvantage by deception contrary to section 192E(1)(b) of the Crimes Act 1900 (NSW). Following an ASIC investigation, it is alleged that between 3 June 2016 and 10 June 2016, Mr Stevens dishonestly caused $110,000 payable…