123RF A Southland shearing and firewood services company is in liquidation. Southland company X Factor Shearing has been put into liquidation owing $553,654 to unsecured creditors. The company was placed into liquidation in the High Court at Invercargill on July 1, and KPMG released the first liquidators report on July 23. The creditors include Inland…
Hagit Fieldman, 54, and Gary Fieldman, 58, both now living in Israel, were directors of First For Windows Ltd. The company traded as Dalmatian Windows and provided the manufacture and installation of double glazing, doors and conservatories. The company was incorporated in 2005 with its main trading address in East Kilbride, and the company traded…
Venugopal Dhoot, former promoter of Videocon Group, has moved before the NCLAT, challenging an order of the insolvency court NCLT approving Rs 2,962 crore takeover bid by Anil Agarwal’s Twin Star Technologies for 13 companies of the debt-ridden group. Dhoot, in his petition filed before the National Company Law Appellate Tribunal (NCLAT) has requested to…
The National Company Law Appellate Tribunal (NCLAT) has stayed the operation of the orders of the first bench of the National Company Law Tribunal (NCLT) here, upholding the sale process of the properties of Appu Hotels for Rs 423 crore under the Insolvency and Bankruptcy Code. MGM Healthcare is said to be the successful purchaser…
Moree Artesian Aquatic Centre Ltd (MAAC), the public company operating the Moree Artesian Aquatic Centre in Northern NSW, has gone into liquidation. The notice of liquidation of the company, of which the Moree Plains Shire Council is the only member, was published on the Australian Securities and Investments Commission (ASIC) site on Thursday, the same…
(File image: Reuters) Venugopal Dhoot, former promoter of Videocon Group, has moved before the NCLAT, challenging an order of the insolvency court NCLT approving Rs 2,962 crore takeover bid by Anil Agarwal’s Twin Star Technologies for 13 companies of the debt-ridden group. Dhoot, in his petition filed before the National Company Law Appellate Tribunal (NCLAT)…
The latest amendments to the IBC, 2016 allow the use of pre-packs to resolve insolvency proceedings involving micro, small and medium-scale enterprises. A pre-pack is a way of resolving the troubles of creditors and owners of a distressed business. What are the amendments to the Insolvency and Bankruptcy Code passed by Parliament and will it…
On 20 July 2021, the Hong Kong Court of First Instance granted an application by Hong Kong liquidators to issue a letter of request for assistance to the Shenzhen Intermediate Peoples Court. This was the first application made under the new cross-border cooperation mechanism, which we reported in a previous note (click here). Background The…
Just a week after spruiking a $1.3 million cash splash, the Moree Artesian Aquatic Centre has gone into liquidation. The notice of liquidation was published on the ASIC site on Thursday, the same day the Moree Plains Shire Council received a confidential “legal update” during closed council at their extraordinary meeting. The information on the…
Tamworth charity One of a Kind Community Support faces allegations it traded insolvent and that managers misspent thousands of dollars before the organisation went into administration in 2019, according to the report of a voluntary administrator published this week. The 49-year-old charity was forced to sell almost all its assets, including several buildings it owned,…