The SsangYong Motor Company will continue to operate as normally around the world including in Australia after it has secured protection under South Koreas bankruptcy administration process. This comes after the South Korean arm of Indian industrial giant Mahindra and Mahindra (M&M) filed for bankruptcy on Monday December 22, following the failure to meet accumulating…
The government has again extended the suspension of fresh proceedings under the insolvency law by three more months amid the disruptions caused by the coronavirus pandemic. TopicsCentre|Insolvency and Bankruptcy Code The government has again extended the suspension of fresh proceedings under the insolvency law by three more months amid the disruptions caused by the coronavirus…
As we approach the end of the 2020 and enter the final week of eNewsletters,Ragtraderis reflecting on the biggest digital stories of the year. Each day this week we will count down the top 10 stories from the website this year. Kicking off our list is Number 10 –Colette in shock administration as another icon…
A Rockhampton accounting firm has been placed into liquidation. Taurus Accounting, which is registered to a Cambridge St, The Range, address, was issued the Australian Securities and Investments Commission (ASIC) liquidation notice on Monday. The company is a chartered accountant and chartered tax advisor firm, specialising in small to medium enterprises and was registered in…
New Delhi: Finance Minister Nirmala Sitharaman on Monday said the government is planning to extend the suspension of fresh insolvency proceedings for another three months, a move which will provide major relief to corporate borrowers hit by the coronavirus pandemic. Addressing the Bangalore Chamber Of Industry And Commerce (BCIC), she said the government has taken…
I do not care how many sports you add to the Olympics. Breakdancing sounds like fun. Sport climbing will also be great, as soon as I work out what that is. But there is a recurring theme whenever the Games roster is changed that we have to address. That is the suggestion joking or otherwise…
The Bankruptcy Law Reforms Committee, which proposed the IBC, noted that the most important objective in designing a legal framework for dealing with firm failure is the need for speed. By Bibek Debroy & Aditya Sinha, A few days ago, a woman in Bhopal moved a court because her father allegedly cheated in a Ludo…
Insolvency professionals appointed under the Insolvency and Bankruptcy Code (IBC) may not find it all that easy to contract out their duties to third party consultants or advisors (including non Insolvency Professional Entity) during corporate insolvency resolution process (CIRP) if the latest IBBI discussion paper is anything to go by. The Insolvency and Bankruptcy Board…
Queensland customers have helped bring iconic Australian brand Seafolly back from the brink after the swimwear retailer faced financial collapse during the COVID-19 crisis. The Sunshine State has accounted for more than forty per cent of Seafolly’s sales revenue in 2020 making Queensland the 45-year-old brand’s largest both in distribution of stores and revenue. Georgia…
Queensland customers have helped bring iconic Australian brand Seafolly back from the brink after the swimwear retailer faced financial collapse during the COVID-19 crisis. The Sunshine State has accounted for more than forty per cent of Seafolly’s sales revenue in 2020 making Queensland the 45-year-old brand’s largest both in distribution of stores and revenue. Georgia…