Australian Regional airline Rex has a US buyer, administrators have confirmed. The announcement on Tuesday evening comes more than a year after the airline entered voluntary administration. Air T – which operates a number of aviation businesses in the US – has entered a sale and implementation deed with EY, the administrators…
Anka, the pan-African e-commerce platform for African creators formerly known as Afrikrea, has been acquired by the newly-formed Global Shop Group for an undisclosed sum, approximately two months after its French parent company MANSAART entered judicial liquidation. The acquisition represents a rapid and forced sale following the collapse of the venture-backed startup’s parent entity. Court…
REVEALED: Latest business liquidations in Swan dailytelegraph.com.au Read the original article here
Regional airline Rex has a US buyer, the announcement on Tuesday night coming more than a year after the airline that operates numerous services in South Australia entered voluntary administration. Air T — a Nasdaq-listed US aviation business that runs cargo services, an aircraft trading business and sells parts – has entered a sale and…
Creditors owed millions of dollars after Rex Airlines went into voluntary administration are still in the dark about whether they will get their money back, despite a new owner being found for the embattled airline. The regional carrier collapsed into voluntary administration last year before the federal government gave it a multi-million-dollar lifeline to keep…
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The Coromandel Shelly Beach Top 10 Holiday Park says it will honour the GrabOne deals, despite the collapse of the e-commerce website. Photo: Google Maps The collapse of GrabOne has left many businesses struggling to cover the cost of vouchers that the site sold, but has not paid the retailers for. Some of the businesses…
The Ahmedabad bench of the National Company Law Tribunal (NCLT) held that under Section 9(5) of the IBC, 2016, a dispute limited to interest does not amount to a pre-existing dispute and therefore does not bar initiation of the Corporate Insolvency Resolution Process. The present application was filed under Section 9 of the Insolvency and…
The National Company Law Tribunal (NCLT) has directed for initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-ridden group Jaiprakash Associates Limited, for a default of Rs 45 crore. The direction of Cuttack Bench of NCLT came after it admitted a plea filed by the company’s operational creditor Sidhgiri Holdings Pvt Ltd,…