Barbeques Galore has entered voluntary administration, shaking Australia’s discretionary retail sector and alarming consumers. The iconic outdoor retailer employs about 500 staff and runs 68 company-owned plus 27 franchise stores nationwide. Liquidity stress forced administrators and receivers to step in, while customers now face a sharply reduced voucher value. Gift cards effectively require $2 in…
PDUNASS Conducts Half-Day Workshop on Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 PIB Read the original article here
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Independent professionals will run vodka maker Stoli’s US entities following a settlement with Fifth Third Bank. The move keeps the door open for restructuring rather than asset sales. A Texas bankruptcy judge has ordered separate trustees to take the helm at Stoli USA and Kentucky Owl, bringing independent management to the vodka brand’s beleaguered American…
Tongaat Hulett, a 134 year-old South African sugar maker, is on the brink of collapse again as its administrators prepare to place the firm into bankruptcy, according to people with knowledge of the matter. The company’s strategic partners — Vision Group and the Industrial Development Corporation — have been in negotiations to secure funding but…
Arshiya Limited’s Subsidiary NCR Rail Infrastructure Gets Final NCLT Approval for JSW Infrastructure Resolution Plan scanx.trade Read the original article here
Barbeques Galore / Facebook Barbeques Galore has entered voluntary administration. This new development comes after the company failed to find a new buyer. Details of Barbeques Galore’s Voluntary Administration According to a report by ABC News, Grant Thornton has been brought in as voluntary administration, while receivers from Ankura have already been appointed. Liquidity issues…
Tongaat Hulett close to collapse, again News24 Read the original article here
In a recent ruling, the National Company Law Tribunal (NCLT) Mumbai Bench has held that the 12‑year limitation period under Article 62 of the Limitation Act for mortgage enforcement does not apply to claims filed in a Corporate Insolvency Resolution Process (CIRP). The case arose from the rejection of BSEL Algo’s claim of ₹22.94 crore…
REVEALED: Latest business liquidations in Ipswich The Courier Mail Read the original article here