Bankruptcy code to be amended – The Hindu

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Luxury bridal house in Claremont, Pallas, joins WA streetwear chain Live Clothing in voluntary administration – The West Australian

At least 100 brides to be around the country are in the throes of a pre-nuptial frock emergency after luxury Perth bridal house Pallas went into voluntary administration. It was another dark day for Perth retail yesterday with 23-year-old WA streetwear chain Live Clothing also going into the hands of external administrators. Pallas, with salubrious…

Fashion to Figure Receives Court Approval to Begin “TOTAL LIQUIDATION SALE” – Markets Insider

NEW YORK, Nov. 22, 2017 /PRNewswire/ — It was announced today that New York based Fashion to Figure will close its remaining 19 stores across 6 states following a total liquidation of the Company’s inventory.  On Wednesday, a U.S. Bankruptcy Court judge in New Jersey approved an order authorizing a joint venture of SB Capital Group, LLC,…

China Railway Construction Group’s Brisbane debut derailed – The Australian Financial Review

Chinese government-owned construction giant China Railway Construction Group’s first venture into Australia with local partner Brisbane-based construction company Rimfire Constructions has collapsed. The joint venture formed by the two parties, CRCG-Rimfire Pty Ltd which debuted in the Australian market exactly a year ago has been placed under voluntary administration. Grant Thornton is handling proceedings, with…

Cabinet approves changes to banking code that may block promoters from insolvency bids – Economic Times

The Cabinet on Wednesday gave approval to amend the Insolvency and Bankruptcy Code (IBC) to prevent wilful defaulters from bidding for stressed assets, two TV channels reported citing unnamed sources. The IBC is one of Prime Minister Narendra Modi’s biggest reforms. Some owners are reported to be getting ready to stake a claim for these…