An Australian luxury fashion retailer, which spruiked celebrities visiting its store and stocked some of the world’s most famous designers, has collapsed owing $16 million. After nearly 40 years of operation Harrolds was quietly placed into liquidation at the start of October. The company was founded in 1985 with its first store opened in Melbourne…
Company liquidations are at a 10-year high Stuff Read the original article here
Justice Linda Chan adjourned the case until May 26 after hearing a petition from Ever Credit, a unit of Hong Kong-listed Kingboard Holdings, which makes laminates and chemicals. At the hearing, Ever Credit asked the judge to grant an immediate liquidation order, while another creditor requested a four-week adjournment. Country Garden’s lawyer, Jose-Antonio Maurellet, told…
According to a previous Herald report, Olivado had an unsuccessful expansion to Queensland, then went to Kenya, where investor Alan Mountfort was shot in the early 2000s. Kaitāia-based avocado packer Far North Avocado Suppliers Limited operated an avocado pack house in Northland. Liquidator Garry Whimp told the Herald Olivado owed the suppliers some money but…
Aussie building company collapse leaves homeowners out-of-pocket MSN Read the original article here
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The Mumbai bench of the National Company Law Tribunal has ordered the liquidation of the once-iconic Tulip Hotels after the creditors of the company failed to receive any viable resolution plan. The tribunal also appointed Krishna Gopal Ratanlal Maheshwari as the liquidator. “The liquidator shall endeavour to sell the company as a going concern during…
NCLT has directed for the liquidation of debt-ridden Tulip Hotels, as the tribunal failed to receive any bidder during its insolvency resolution process within the prescribed timeline. On May 16, 2023, the NCLT had directed the initiation of a Corporate Insolvency Resolution Process (CIRP) against Tulip Hotels over a plea filed by Yes Bank, claiming…
RP Amit Karia The National Company Law Tribunal (NCLT), Mumbai on 16th January 2025 approved the resolution plan for the corporate debtor Rite Builtec Private Limited, marking a significant milestone in resolving this long-pending Slum Rehabilitation Authority (SRA) project in Devipada, Borivali, Mumbai. Aspect Global Ventures Private Limited is the successful resolution applicant. The resolution…
Canoo, the electric delivery vehicle startup which raced against time and insolvency despite infusions of incentive funding and actual van orders from Walmart and NASA, has been crushed under mounting debt and decided to cease all operations immediately. The Texas-based Canoo announced Friday it had filed a petition for Chapter 7 bankruptcy, which is liquidation…