Category Archives: Liquidation

Montego Homes goes into administration as Victorian construction company hits pause on projects – Daily Mail

By Daily Mail Australia Reporter Published: 08:10 AEDT, 17 January 2024 | Updated: 08:34 AEDT, 17 January 2024 Another building firm has gone into voluntary administration immediately putting a pause on all projects. Victorian-based Montego Homes appointed Cor Cordis as administ… Read the full article at: https://www.dailymail.co.uk/news/article-12971033/Montego-Homes-goes-administration-Victorian-construction-company-hits-pause-projects.html

More trouble for Zee: SC upholds HC ruling to send Siti Networks' loan default case to arbitration – Business Today

Zee-Sony merger: The Supreme Court on Tuesday upheld the Delhi High Court’s ruling to refer the Rs 150 crore dispute between Aditya Birla Finance and Siti Networks to arbitration. The high court had appointed former Supreme Court judge Justice LN Rao as the sole arbitrator. Aditya Birla Finance had alleged that Siti has not settled…

Construction companies continue to collapse by the thousands – Australian Property Investor Magazine

The number of Australian construction companies hitting the wall continues to soar, with almost 1,400 businesses collapsing in the second half of 2023. The latest numbers released this week by the corporate regulator, Australian Securities and Investments Commission (ASIC), revealed that 29 per cent more companies folded than in the same period in 2022. Overall…

Ex-promoters, can submit bids if eligible under Section 29A of IBC: NCLAT – Business Standard

The National Company Law Appellate Tribunal (NCLAT) on Thursday said former promoters and directors of a company going through insolvency process are not barred from submitting bids until they are ineligible under clauses of Section 29A of the insolvency law. The mere fact that someone was a promoter and director of a company going through…

Wayward Brewing and Local Drinks Collective enter voluntary administration – Brews News

Wayward Brewing Co. and Local Drinks Collective enter voluntary administration to facilitate financial restructuring Wayward Brewing Company Pty Ltd (Wayward) and Local Drinks Collective Pty Ltd (LDC), have announced their decision to appoint an administrator to help facilitate a financial restructuring of the business. Wayward operates a craft brewery and taproom in Camperdown, in the…

NCLAT sets aside insolvency proceedings against Asian Hotels West – ETRealty

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Tuesday set aside insolvency proceedings against Asian Hotels (West), which operates Hyatt Regency, Mumbai. The appellate insolvency tribunal has also accepted the proposal submitted by former promoters and directors of the company under Section 12A of the Insolvency & Bankruptcy Code. NCLAT said the decision…

Corporate insolvencies will occur at rate of almost three per day this year, forecasts PwC – The Irish Times

There will be close to 1,000 corporate insolvencies this year after finalised figures for 2023 came in higher than expected at 717, according to the latest insolvency barometer from professional services company PwC Ireland. The accountancy giant said there had been an uptick in business failures in the fourth quarter of 2023 and that having…

Insolvency, mediation, bankruptcy, corporate philanthropy are subjects of future – Deccan Chronicle

Nalsar University of Law. Hyderabad: The Institute of Company Secretaries of India (ICSI) and Nalsar University of Law co-hosted the first edition of Corpcon-2024 at Nalsars Shamirpet campus, which ended on Sunday. The three-day workshop on developments and trends in corporate laws and governance provided a platform for knowledge exchange and collaboration focusing on corporate…

China Debt Crisis: Wealth manager Zhongzhi files for bankruptcy liquidation – WION

WION Video Team  | Updated: Jan 07, 2024, 11:00 AM IST The ongoing property crisis in China has taken down another company. This time, it is wealth management firm Zhongzhi, which filed for bankruptcy liquidation. Zhongzhi applied for bankruptcy arguing it could not repay its debts due to insufficient assets. Read the full article at: https://www.wionews.com/videos/china-debt-crisis-wealth-manager-zhongzhi-files-for-bankruptcy-liquidation-677370

Troubled Investment Giant Zhongzhi Filed for Bankruptcy Liquidation – Caixin Global

Chinas embattled investment conglomerate Zhongzhi Enterprise Group Co. Ltd. has filed for bankruptcy liquidation, shortly after it disclosed a financial shortfall of up to $36.5 billion. A court in Beijing said Friday it has accepted Zhongzhis application for bankruptcy liquidation, in which the company stated that its assets are insufficient to cover all liabilities and…