Joann, a major retailer of fabrics and crafts, said in a bankruptcy filing on Wednesday that it intends to close 500 locations and begin going-out-of-business sales. The retailer currently has 800 locations. When it initially filed for bankruptcy in 2024, it said it did not intend to close any locations. The company said at the…
NCLT Approves JSW Energy’s Rs 160 Bn Bid for KSK Mahanadi Power Construction World Read the original article here
This sounds tempting, especially if you sell them at a knockdown price to the other company. But this action may be a breach of s238 of the Insolvency Act 1986 – Transactions at Undervalue. It sometimes happens that directors overlook or even fail to disclose all the company’s property to a liquidator. Consequently, the Insolvency…
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By Alex Davidson ( February 17, 2025, 2:13 PM GMT) — Payment services company Nvayo has entered into special administration, six months after it was banned from electronic money services because of serious concerns about its compliance with anti-money laundering regulations, the Financial Conduct Authority has said…. Law360 is on it, so you are, too.…
The boss of a collapsed building company may have transferred $2.5 million to its boss as a “director’s loan” in the months before the business went bust, according to the liquidator left to wade through the mess. That figure is more than the total money owed to creditors. Victorian construction firm Area Projects Pty Ltd…
No Bar On Corporate Debtor From Contesting Application U/S 9 Of IBC Even If No Reply Is Given To Demand… Live Law – Indian Legal News Read the original article here
Isle of Wight company Glazing the Island has entered voluntary liquidation, owing tens of thousands of pounds to businesses. Southampton-based firm Quantuma has been appointed to oversee the liquidation process, as of February 12. According to Companies House, the double glazing installer, based at Somerton Industrial Estate, Cowes, has a deficit of £266,140, £194,000 of which is owed…
Southampton-based firm Quantuma has been appointed to oversee the liquidation process, as of February 12. According to Companies House, the double glazing installer, based at Somerton Industrial Estate, Cowes, has a deficit of £266,140, £194,000 of which is owed to 43 companies, comprising of Island businesses and banks. A total of £105,152 is owed to Glazing the Island’s…
A scandal-hit stage engineering contractor is facing potential liquidation after being implicated as one of the three firms accountable for injuring three dancers in 2022 at Cantopop boy band Mirror’s concert. The mainland-based creditor of Hip Hing Loong Stage Engineering Company on Friday filed a case with the city’s High Court for the firm to…