Big Rock Sports, the Graham, NC-based distributor of fishing, hunting and outdoor sporting goods, has filed for Chapter 7 bankruptcy liquidation, listing just over $100 million in liabilities. Unsecured claims totaling about $83 million and including many vendors in litigation with Big Rock are not expected to be paid. Many past senior executives and investors…
Trilegal advised the Resolution Professional, Mr. Abhilash Lal on the Corporate Insolvency Resolution processes.Mr. Abhilash Lal, as Resolution Professional, oversaw the CIRP of SevenHills Healthcare, among… Standard 1 Year Membership Required You must be a Standard 1 Year member to access this content. Join Now Read the original article here
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In insolvency litigation, one of the most frequently raised preliminary objections is that the Corporate Debtor is a “Financial Service Provider” (“FSP”) and hence immune from the rigours of the Insolvency and Bankruptcy Code, 2016 (“IBC”). The exclusion under Section 3(7) for the FSP is frequently used as a jurisdictional shield to delay or defeat…
The boutique rum manufacturer, Brix Distillers, formerly known as Sydney Distilling Co, has opted for voluntary administration. Appointing an Administrator RSM Australia has been appointed to manage the administration for the pioneer craft rum distillery in the country. The firm is presently considering all possible alternatives, including liquidating the company’s assets through a deed of…
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REVEALED: Latest business liquidations in Whitehorse Herald Sun Read the original article here
Over the last 12 months, a number of travel companies in both the U.S. and Europe have ended up having to shut down amid a market of poor consumer sentiment and strong competition. Icelandic tour company Tango Travel was left incapacitated by the earlier bankruptcy of partner Play Airlines and shut down in November. Swedish travel company MixxTravel…
Tony Chow Zhong Lun Law Firm has recruited Tony Chow as a partner at its Hong Kong office, further reinforcing its capabilities in dispute resolution in the city. Before joining Zhong Lun, Chow led the contentious insolvency practice at Freshfields’ Hong Kong office for two years, following a tenure as director of restructuring and insolvency…