Insolvency Guardian Media Centre
Hudson’s Bay liquidation to end by June 1, store closures fast approaching | Urbanized Daily Hive Vancouver
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Reacon Australia has been placed into liquidation following a ruling by the Federal Court on Friday 9 May.
The administrators for the business, Simon Cathro and Andrew Blundell from Cathro & Partners have been appointed as the liquidators for the business.
“On Friday, the Federal Court wound up Reacon Group following a petition received from creditors and as a result Simon and I were then appointed liquidators,” Blundell told Sprinter.
“In our role as liquidators for Reacon Australia, we are currently assessing the legal position of the company following the orders from last Friday. In the meantime, we will be continuing to trade while we seek legal advice in relation to what is now further required,”…
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A sex trafficker who duped Chinese women into travelling to Scotland and forcing them into prostitution made more £2 million from his life of crime, a court has heard.
Jagpal Singh,55, obtained a total of £2,688,927.46 from criminal activities, judge Lord Summers heard on Monday.
He was given a 10 year jail term in September 2022 after proceedings at the High Court in Glasgow.
He teamed up with his partner Donglin Zhang,51, and Albanian Vlassis Ntaoulias,35, to set up a network of brothels across Glasgow.
The trio were joined by Thai citizen Boonsong Wannas, 62, who helped them bring in women from Asia – these females were forced to provide sex services from August 2018 to February 2020.
Their business came crashing down after police…
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“The adjudicating authority has not committed any infirmity in not allowing the CIRP of the corporate debtor (PepsiCo) to be initiated solely on the basis of the claim of the contested and unsubstantiated interest component,” said a three-member NCLAT bench.
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NCLAT dismisses insolvency plea against PepsiCo India Moneycontrol
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Artwork Holdings Ltd, formerly Yield Gallery Limited, described itself as “contemporary art specialists offering the purchase and investment of artwork to the public”
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Insolvency Service investigations into the company found conflicting accounts as to whether it was trading, inaccurate accounts, and a suspected under-payment of VAT and corporation tax
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The company has been shut down by the High Court, with the Official Receiver appointed as liquidator
A company with two London art galleries which marketed itself as selling works by famous artists such as Banksy, Andy Warhol and Tracey Emin has been shut down.
Artwork Holdings Ltd traded under the banner of Yield Gallery, which described itself…
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Yorkshire and Humber sees drop in insolvencies and start-ups Rotherham Advertiser
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“It was a dispute amongst the shareholders about Coupon Rights,” said Prakash Bajpai, founder and chief executive of Tikona Infinet, in a statement. “I am glad to inform that a settlement agreement has been executed already, which will settle all disputes amicably between LTF Limited and the other majority shareholders. A withdrawal application to NCLT is under…
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Also Read | Court orders reset bankruptcy rules. Now, the govt is amending the law
A system of advance ruling on bankruptcy-related laws similar to that existing for income tax would also help, it said in recommendations to the government after studying the working of Insolvency and Bankruptcy Code (IBC).
It said a dedicated IBC mediation and arbitration centre, expanding the scope of the existing informal debt resolution framework for micro, small and medium businesses and a special set of measures including a fast-track scheme for bankruptcy resolution of defunct companies, could speed up the way India addresses sickness among businesses and fetch better outcomes.
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A twice-bankrupt businessman whose podcast has featured celebrities and sports personalities has had a multi-million pound worldwide asset freezing order imposed by the High Court.
Matt Haycox, a self-styled investor, mentor and philanthropist, is facing a fraud claim by a Manchester-based investor and former Conservative Party donor related to two vehicles of an insolvent peer-to-peer lending group called Huddle.
A judge ordered a £5.6 million asset-freezing injunction against Haycox, 44, based in Dubai, last year. He has since been warned of contempt of court, the risk of imprisonment and having assets seized if he disobeys court orders, including to attend a hearing in person.
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Johnson Winter Slattery (JWS) has appointed Alistair Fleming as a partner in the firm’s Restructuring & Insolvency team. He will be based in Perth.
Alistair practises in corporate restructuring and insolvency and commercial litigation. He advises on all aspects – both contentious and non-contentious – of informal and formal insolvency and restructuring processes, and on transactions involving corporate disputes or financial distress.
He regularly advises companies, directors, financiers, external administrators, hedge funds, creditors, investors and restructuring professionals across most industry sectors. In addition, Alistair has a strong general corporate litigation practice.
Commenting on Alistair’s appointment, JWS…