Staff at Lithgow company Fairview got good news last week, after Creditors endorsed a business rescue package for the firm. In recent months, the business had entered voluntary administration after some challenging commercial headwinds. The highlights of the recommended business rescue package include: At a meeting trade creditors voted overwhelmingly to accept the independent resolution…
Japanese apparel maker Renown Inc., which had sought court protection to revive its century-old business, will go into liquidation amid plunging sales due to the novel coronavirus pandemic, its lawyers said Monday. The Tokyo District Court last Friday decided to discontinue court protection after a sponsor could not be found. The liquidation procedure is expected…
[ Routes ]November 2, 2020 6:00 am ET By Benjamin Pham Virgin Australia Prepares For Upcoming Holiday Season The holidays are approaching, and despite COVID-19, more passengers continue to consider air travel for leisure and participation in the holiday festivities. Virgin Australia officially announced its schedule ahead of the upcoming holiday season when travel demand…
By Wayne Robinson | 30 October 2020 128950489 Pty Ltd (formerly known as Express Print & Mail Pty Ltd) owner Matthew Chadwick sold the business, assets, and brand to a new company owned his mother Wendy Chadwick for $177,000 a month before putting the company that owned the business into liquidation. Express Print & Mail…
Link copied toclipboard *The story has been updated with corrected details about the Gascoyne Resources recapitalisation process This week, debt-laden lithium producer Altura Mining (ASX:AJM) went into voluntary administration. When it comes to recovering any money, Alturas shareholders are at the bottom of the heap. Secured creditors, like banks, are at the top. The key…
Khaitan & Co advised Resolution Professional and PwC. Payne Realtors Private Limited completed a corporate insolvency resolution process. The resolution plan submitted by City Gold Entertainment Limited has been approved by the NCLT and being implemented. Payne Realtors Private Limited provides civil engineering services. The Khaitan & Co team was led by Partner Siddharth Srivastava…
While many Western Australian businesses have re-opened and returned to business as usual, there are fears some will not survive the financial impact of the COVID-19 coronavirus pandemic. When a business closes its doors, consumers often call Consumer Protection with concerns about money paid for goods or services that are yet to be received, or…
Khaitan & Co advised Resolution Professional and PwC. Payne Realtors Private Limited completed a corporate insolvency resolution process. The resolution plan submitted by City Gold Entertainment Limited has been approved by the NCLT and being implemented. Payne Realtors Private Limited provides civil engineering services. The Khaitan & Co team was led by Partner Siddharth Srivastava…
J.C. Penney was one of the lucky ones, if you can call any company in bankruptcy lucky. The retailer filed for Chapter 11 in May without a definitive plan for what would come next. The company had a reorganization agreement with lenders, but it came with contingencies and milestones that could potentially have allowed for…
Westfield shopping centre in Doncaster, Victoria. Source: AAP. The liquidator of art supplies retailer Riot Art & Craft has confirmed the e-commerce arm of the business was sold to a related entity prior to the business collapsing. Riot Art & Craft closed its 56 stores last week, after entering liquidation and informing staff members via…