New Delhi, Sep 27 (PTI) A plea was today moved in the Delhi High Court challenging various provisions of the bankruptcy and insolvency code, claiming they are violative of fundamental rights. A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar listed the petition on October 10, when a similar pending plea…
HYDERABAD, Sep 27: Lanco Infratech Limited has posted a huge loss of Rs 1,691.63 crore for the first quarter ended June 30, 2017 as as against a loss of Rs 1,27.77 crore for the corresponding quarter on a standalone basis. The income of the diversified infrastructure company now faced with insolvency proceedings, for the first…
A security industry training provider has gone into voluntary administration after suspending classes across its six Victorian campuses, leaving students in limbo. The Complex Institute of Education’s phone number on Wednesday morning only had a recorded voicemail saying classes would not be running “until further notice”. Students were instructed to await an SMS or email…
Fashion fail: Topshop Australia calls in administrators exit ???High-profile fashion retailer Topshop Australia has collapsed under debts and entered voluntary administration, with the future of its stores and workers under a cloud. Administrator James Stewart, of Ferrier Hodgson, said the company would continue to trade as normal while it considered its “optimal operating structure”. “It…
Catching up with online surfwear retailer Surfstitch.com recently was an eye opener to what the business has been going through following the recent announcement that its holding companies had gone into voluntary administration. On 24th August 2017, SurfStitch Group Ltd announced it had gone into voluntary administration having been beleaguered with several legal issues, including…
A Moray engineering company has gone into liquidation with the loss of more than 30 jobs. Brown Engineering of Fochabers was established in the 1970s. It specialised in the manufacture, installation and maintenance of plant and machinery and pipework for the distilling and malting and oil and gas industries. Liquidators KPMG said 32 of the…
IU will provide one-stop shop for details on all financial transactions Mumbai, September 26: Indias first information utility (IU), a one-stop shop for details on all financial transactions of lenders, information utilities under the insolvency and bankruptcy, has got a go-ahead. On Tuesday, the Insolvency and Bankruptcy Board of India (IBBI) granted it a renewal…
FEDERAL MP David Littleproud has called out the region’s CSG companies, demanding they outline to him their local procurement practices and employee recruitment. Mr Littleproud has taken the hardline stance because he does not want the Maranoa to be seen as the hub for fly-in, fly-out (FIFO) gas workers and has called for greater transparency.…
Thirty jobs lost as Moray engineering firm goes into liquidation 26 September 2017 From the section NE Scotland, Orkney & Shetland A Moray engineering company has gone into liquidation with the loss of more than 30 jobs. Brown Engineering of Fochabers was established in the 1970s. It specialised in the manufacture, installation and maintenance of…
The 123 Mart was opened in 1995 by Joseph Choi and has gone into liquidation. Discount store chain 123 Mart Limited has gone into liquidation after failing to pay tax debt. Jared Booth and Tony Maginness from Staples Rodway have been appointed liquidators. The company owns 60 stores throughout New Zealand. Booth said the liquidators were in discussions and negotiations…