Image copyright SGM Distribution A total of 16 jobs have been lost after a courier company with depots in Aberdeen and Letham in Angus went into liquidation. SGM Distribution said 51 of its employees have been taken on by a new employer. The company has a fleet of 47 vehicles. Liquidators at MHA Henderson Loggie…
A bankruptcy court has ordered liquidation of debt-laden ABG Shipyard Ltd after lenders rejected an offer by the sole bidder Liberty House. The development comes almost two years after the Reserve Bank of India asked lenders to initiate bankruptcy resolution proceedings against ABG Shipyard and 11 other companies under the Insolvency and Bankruptcy Code (IBC).…
A bankruptcy court has ordered liquidation of debt-laden ABG Shipyard Ltd after lenders rejected an offer by the sole bidder Liberty House. The development comes almost two years after the Reserve Bank of India asked lenders to initiate bankruptcy resolution proceedings against ABG Shipyard and 11 other companies under the Insolvency and Bankruptcy Code (IBC).…
Adelaide Wednesday May 01, 2019 Fighting fit Greens MP sidelined by major heart surgery More money needed for homelessness and mental health services: City Council Nyrstar repays $42 million to taxpayers as Lucas negotiates Call to rebuild lost tribute to Colonel William Light Adelaide biogas plant up and running … Read the full article at:…
The implementation of the Insolvency and Bankruptcy Code (IBC) may have given banks a major tool to deal with bad loans, but the latest numbers show only a 13 per cent resolution, with lenders having to take an average haircut of over 50 per cent. Numbers put out by the Insolvency and Bankruptcy Board of…
The members of the Blayney Bowling Club voted unanimously on Monday night to appoint an administrator to the club, officially ending the long and at times emotional demise of the club. Former club president Steve Chapman said that the meeting, that was only open to members, took 40 minutes to complete, and that it all…
A businessman and his mother have been restricted for five years from acting as directors of any company, unless it meets certain requirements, after the High Court found they failed to keep proper books and records for their liquidated hairdressing supplies and beauty treatments business. Warren Logan was executive director of Hairspray Wholesalers Ltd, Fashion…
About 13 percent of corporate insolvency resolution processes (CIRPs) until the end of March 2019 wereresolved, while 53 percent cases ended in liquidation, according to data from the Insolvency and Bankruptcy Board of India (IBBI). Average realisation by financial creditors as a share of claims was only 43 percent. In its report, the IBBI said…
Factory seconds appliance retailer 2nds World has collapsed after 35 years in business. The chain was placed into the voluntary administration of chartered accounting firm De Vries Tayeh on April 15. 2nds World has a long-running history, currently selling discounted appliances to retail customers and commercial clients. 2nds World is also a member of Australias…
KOLKATA: Banks would realise just about a quarter of their claims from 12 corporate debt resolution cases in the January-March period, dashing hopes for higher bad loan recovery in the last quarter of the fiscal. The lenders will receive merely 17% of the Rs 29500 crore dues from Alok Industries, raising doubts over the future…