The National Company Law Tribunal (NCLT) has directed that the resolution plans to acquire Jaiprakash Associates through the insolvency process should be invited for the entire company as a going concern and not by dividing its different business verticals. The National Company Law Tribunal (NCLT) has directed that the resolution plans to acquire Jaiprakash Associates…
‘Unlikely’: Bonza’s future bleak after groundings, voluntary administration Great Lakes Advocate Read the original article here
“If I need to go to Roger Cook tomorrow or Monday next week and say, ‘Roger, listen’ because he has got $60 million right now for renewable energy projects … Roger could give us $5 million from the [investment] attraction fund,” Gauld told the court, according to transcripts of the proceedings. “I can go back…
A Christchurch company running a panel shop repairing motor vehicles has gone under owing just over $600,000 in unpaid staff payments, tax and other bills. NZ Panel under shareholder and director Warnakulasuriya Dilanka Niroshan Fernando was placed in liquidation on April 3. The total estimated shortfall is thought to include about $10,000 owed in staff…
Rams Logistics was placed into liquidation last month after court proceedings. Auckland freight company Rams Logistics is in liquidation after “significant” debts with Inland Revenue and the Transport Agency. A notice in the Gazette said liquidators were appointed to the company by the High Court in Auckland on March 28, after an application was made…
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SUMMARY Zomato’s parent Eternal announced that its step-down subsidiary in the Netherlands, Zomato Netherlands, has initiated its liquidation process Zomato Netherlands’ turnover was nil in FY24, while its net worth stood at INR 32 Lakh. The liquidation of the subsidiary is expected to be completed within one year With this, Zomato has effectively shut down…
According to their first liquidators report, Wilson Barbecue was placed into liquidation due its inability to meet its current debt levels as they fell due. “The company’s insolvency resulted from the current economic environment in the food retail industry, which led to diminishing cash flow,” the liquidators said. Inland Revenue is owed $644,192, however, the…
Australian corporate insolvency reform: What can we expect in 2023? | Australia | Global law firm Norton Rose Fulbright Read the original article here
Bankruptcy is the busiest federal court in the U.S. Last year, more than 200 companies with at least $50 million in liabilities filed for bankruptcy, according to Bloomberg. That’s the second most since just after the Great Recession in 2009. A new book argues that bankruptcy has become a “Swiss Army knife” or “escape hatch”…