A major food conglomerate based in Dubai is reportedly on the verge of being placed into provisional liquidation. IFFCO Group is alleged to have accumulated debts of nearly £1.5 billion, with restructuring negotiations making little headway amid disputes between key shareholders and the Iran war. The company is known for selling biscuits as well as…
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Liquidation and locus standi Cliffe Dekker Hofmeyr Read the original article here
The bright yellow planes are grounded. Now the selloff begins. Spirit Airlines, which abruptly canceled all its future flights over the weekend, secured court approval Tuesday to begin dismantling the once-busy budget carrier and to convert its parts into cash for creditors. U.S. Bankruptcy Judge Sean Lane authorized the airline’s plan for a rapid wind…
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Recruitment and superannuation stalwart Hudson Global Resources (Aust) Pty Ltd entered administration on April 22, citing “legacy liabilities” and a chance for restructuring as the reasons, according to documents obtained from the Australian Securities and Investments Commission. Read the original article here
Kaboodle Ltd has ceased trading with immediate effect after the kitchen appliance supplier and installer ran into financial difficulties. The company confirmed it has entered creditors’ voluntary liquidation, with BRI Business Recovery and Insolvency appointed to oversee the process. Cash constraints forced the closure, according to commercial director David Simpson. In a statement, the firm…
The venture was short-lived. After being taken over by the Territorial Collectivity of Saint Martin and the company Edeis in October 2023, Air Antilles was placed in receivership on Monday, April 27, by the Mixed Commercial Court of Pointe-à-Pitre. The court rejected the takeover bids submitted since the company was placed in receivership on February…
The Edinburgh-based company ceased operations following the voluntary liquidation. The formal appointment of Opus Restructuring to EcoJet follows the allocation of interim liquidators earlier this year. The company planned flights from Edinburgh to Southampton with mainland Europe and longer flights also proposed, but the schedule was not launched. It comes amid separate pressures for the…
UK kitchen firm shuts down website and ceases trading with ‘immediate effect’ Herald Series Read the original article here