The petition, filed under the Insolvency and Bankruptcy Code (IBC) by operational creditors, seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against the company. The creditors have alleged that Polymatech failed to clear advisory fees and honour certain equity commitments despite repeated assurances and partial payments. Submissions before the tribunal indicate that while portions…
The Sunshine Coast franchise of long-running retailer Barbeques Galore will continue to trade as normal, despite the national chain falling into voluntary administration. The operators of Barbeques Galore Kawana Waters posted to social media on Thursday to say it was “business as usual” for the local store. “We would like to reassure everyone that Barbeques…
Official decrees formalize layoffs at Agespisa, affecting 236 workers and provoking legal and union disputes amidst the liquidation of the state-owned company and the transition of sanitation services in Piauí. Official decrees published in the Official Gazette of Piauí formalized the termination of contracts at Agespisa and accelerated the termination of employment contracts for CLT…
Global beer brand faces bankruptcy liquidation thestreet.com Read the original article here
Story audio is generated using AI The uncertainty unleashed by Tongaat Hulett’s provisional liquidation has rippled through KwaZulu-Natal’s lush cane belt, from small-scale farmers tending a few hard-won hectares to commercial operators leasing vast tracts from the distressed sugar giant near Tongaat. That burden extends beyond the town’s outskirts into the Midlands and down the…
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Couple ‘ghosted’ after paying $7500 for a sauna that never arrived Stuff Read the original article here
The corporate journey of Viracta Therapeutics is drawing to a definitive close. With its clinical operations already halted, the company has entered a final administrative phase focused solely on liquidating its remaining oncology assets. For shareholders, the central question now is whether this process can extract any residual value from the firm’s intellectual property. This…
Rama Paper Mills in Deep Crisis: Auditors Flag Going Concern Risk Amidst CIRP Whalesbook Read the original article here