After filing for bankruptcy last fall, Toys R Us plans to close a fifth of its US stores to make the business viable again. To guide the store closure process, the company has hired two teams of consultants, Hilco Global-Gordon Brothers and Tiger Capital Group-Great American Group. Their tasks include clearing out store merchandise, overseeing…
Supreme Court of India on Thursday directed Gujarat High Court not to enter into the debate pertaining to the validity of the Insolvency and Bankruptcy Code, 2016 or the constitutional validity of the National Company Law Tribunal. The Bench of Chief Justice Dipak Misra and Justices AM Khanwilkar and DY Chandrachud was hearing a petition…
By Australian Associated Press Published: 13:53 AEDT, 25 January 2018 | Updated: 13:53 AEDT, 25 January 2018 e-mail Discount supermarket chain NQR Grocery Clearance Stores has gone into voluntary administration but its 18 Victorian outlets will stay open. Administrators from restructuring and insolvency firm Cor Cordis were appointed on Thursday and said stores would continue…
Carillion placed into liquidation after six-month battle to get on top of its £1.5 billion debt pile. Construction giant employs 19,500 people and is a major government contractor. The government is stepping in to pay Carillion staff working on government contracts. LONDON Crisis-hit construction firm Carillion on Monday announced it is going into liquidation after…
Patrick Jenkins, Financial Editor January 24, 2018 Senior City of London figures have issued an impassioned plea that the collapse of Carillion and the crisis of confidence in public-sector outsourcing it has caused should not spell the end of collaboration between government and business through the private finance initiative. Carillion was put into liquidation last…
Written by Kate McDonald on 24 January 2018. Dose Innovations, which distributes the Rowa automated dispensary and inventory management system from Becton Dickinson (BD) to Australian pharmacies, has called in the administrators. The Brisbane firm, which set up by pharmacist Robert Allen in 2012 and has installed over 100 robotic systems in community pharmacies around…
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017, dated 23 November 2017, was promulgated by President RN Kovind to amend the provisions relating to the insolvency resolution process contained in the Insolvency and Bankruptcy Code, 2016. The ordinance has made several amendments in order to bring clarity to the resolution process under the code. Some…
Twenty-four firms had expressed interest in submitting resolution plans for the four companiesAdhunik Metaliks, Orissa Manganese & Minerals, Zion Steel and Adhunik Alloys & Power. As many as eight entities, including Edelweiss Asset Reconstruction Company and SREI Infrastructure Finance, have submitted their proposed resolution plans for four bankrupt Adhunik Group companies, which are under the…
22 January 2018 12:07 (UTC+04:00) 286 By Trend Singaporean Keppel Corporation Limited has announced about voluntary liquidation of Caspian Shipyard Company (CSC) in Azerbaijan, said a message on the corporations website. Keppel Corporation Limited (KCL) wishes to announce that its indirect subsidiary, Caspian Shipyard Company LLC has commenced a members voluntary liquidation following the expiration of…
Yoga Events Australia New Zealand owes $1.6 million to 128 creditors. The New Zealand company in charge of organising Wanderlust yoga festivals here and across the ditch owes at least $1.6 million. Yoga Events Australia New Zealand directed and owned by Jonnie Halstead, was placed in liquidation on January 12, the appointed liquidator John Scutter’s first…