In Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10 (OP3 International)1 the Singapore Court of Appeal considered the trigger for when the director’s duty to consider the interests of creditors is engaged (referred to in the judgment as the Creditor Duty). The Court held that: the Creditor Duty is engaged…
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Cafe company plunged into liquidation Gold Coast Bulletin Read the original article here
The National Company Law Tribunal’s (NCLT) decision to allow the liquidation of the Kishore Biyani-promoted Future Retail Ltd (FRL) adds a fresh twist to a long tale. It comes because no resolution plan was approved by the lenders. In April 2022, the committee of creditors, led by Bank of India, filed an insolvency application against the…
A business renovation company owned by reality TV star Sky Wheatley’s partner is on the brink of collapse after it was unable to pay back its debts. Shopfit Co, run by I’m A Celebrity…Get Me Out Of Here! Australia winner Wheatley’s tradie partner Lachlan Waugh has entered external administration and has been taken over by third party…
James Wang owns electrical supply company JH Market and loves the limelight. But since we exposed his company’s dodgy practices, dozens more tradies have come forward, and it’s now lights out for the company. “James, where’s my money?” his employee Roger asked. “Get your act together, dude. Pay us our money,” customer Ken added. READ…
UK-based mixer company Lixir Drinks entered liquidation last month following “immense challenges” including the pandemic and Brexit. The B Corp-certified brand was founded in 2018 Writing on LinkedIn yesterday (16 August), co-founder and head of commercial Matt Mahatme said: “I never envisaged writing this post, but last month we made the difficult decision to place…
Popular drinks company Billson’s collapses The North West Star Read the original article here
Owner distress as companies plunge into administration Katherine Times Read the original article here
About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class…