Red Lea Chickens, who own a 155 hectare poultry farm near Tamworth, were placed into voluntary administration over the long weekend, causing the immediate loss of at least 500 jobs throughout the state. While Red Lea did not respond to enquiries, The Leader understands that a large number of local jobs will be lost in the fall-out, after it…
May 4 (Reuters) – COPsync Inc: * COPSYNC INC – CO FILED IN BANKRUPTCY COURT PROPOSED PLAN OF LIQUIDATION PURSUANT TO CHAPTER 11 OF U.S. BANKRUPTCY CODE & DEBTORS DISCLOSURE STATEMENT * COPSYNC INC – ON MAY 1, 2018, COURT ENTERED AN ORDER SCHEDULING A HEARING ON JUNE 12, 2018, TO CONSIDER APPROVAL OF DISCLOSURE…
Ince & Co has promoted nine lawyers and recruited one to its global partnership. Among the new partners are three lawyers in Asia, who are based in three different offices across the region. The appointments augment the firms contentious practice and continues to build its transactional capabilities in its sectors and regions of focus, Ince…
Issues arising in the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, are being resolved by decisions of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), which are vested with the powers of adjudicating authority under the code, as well as by the Supreme Court. Aditya…
CHRIS HUTCHING/STUFF Steel construction became more popular after the 2011 earthquakes in Christchurch. The main secured creditor of Christchurch-based Challenge Steel which went bust last year has been repaid $6727 – but further significant recovery of the total $10 million debt is unlikely. About $6m of the $10m was owed to 40 unsecured creditors which included suppliers and sub contractors.…
Lanco Infratech, currently under insolvency proceedings, today said its Resolution Professional (IRP) is approaching the National Company Law Tribunal (NCLT) seeking approval for “the company’s liquidation or any other direction” as “a potential buyer has come with a revised “resolution plan”. The revised plan had been submitted by Thriveni Earthmovers, a Tamil Nadu-based infra and…
May 3 (Reuters) – Lanco Infratech Ltd: * RESOLUTION PLAN SUBMITTED BY THRIVENI EARTHMOVERS WAS PRESENTED BY RESOLUTION PROFESSIONAL FOR APPROVAL OF COMMITTEE OF CREDITORS * SAYS ON ACCOUNT OF LESS THAN 75 PERCENT OF VOTES BEING CAST IN FAVOR, APPROVAL OF COC COULD NOT BE OBTAINED * AS CORPORATE INSOLVENCY RESOLUTION PERIOD EXPIRES ON…
Kolkata/New Delhi: The National Company Law Tribunal (NCLT) on Wednesday asked the Committee of Creditors (CoC) of debt-ridden Binani Cement to consider Aditya Birla group firm UltraTech’s revised offer while setting 24 June as deadline for completion of the insolvency resolution process. The NCLT bench also asked the CoC to reconsider resolution plan of Rajputana…
A herb farm which supplies and packs herbs for major supermarkets has gone into voluntary administration. Freshzest and affiliated company Spicezest were placed into administration by director and owner Robert Hayes last month, putting 60 jobs at risk and leaving more than 100 other creditors out of pocket. The companies have farming operations near…
Who wouldve thought regional Australia would be hanging a gold medal around the figurative neck of the A-League? In the past couple of weekends, the National Rugby League has hoofed its way to Tamworth for a competition match; AFL clubs have played under lights at Launceston; and now, by virtue of a sequence of events, domestic…