Insolvency Guardian Media Centre
Gambler jailed for cannabis grow house role Dublin People
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IDBI Bank’s Insolvency Appeal Against ZEEL Dismissed By NCLAT; Know Why MSN
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IDBI Bank’s Insolvency Appeal Against ZEEL Dismissed By NCLAT; Know Why MSN
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Recently collapsed fast fashion retailer Ally Fashion owes more than $56 million in liabilities to over 260 creditors.
This is according to ASIC filings obtained by Ragtrader, which confirms that the highest-value creditor is DDT Management Pty Ltd – a related party to the Ally Fashion business – which is owed $46.1 million.
Other high-value creditors include a construction company which is owed $1.5 million, alongside two shop-fitter firms which are owed $454,799.73 and $297,803.92, as well as a real estate agency being owed $525,531.93.
All this comes after the Federal Court of Australia forced Ally Fashion into liquidation following an application by a landlord for rent arrears in late February.
The court appointed Jeff…
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The studio was one of the oldest architectural practices in the world, having been founded by Herbert Tooley in Buckhurst Hill, Essex, in 1892. It became Tooley & Foster Partnership in 1910, rebranding as Tooley Foster in 2021, when it boasted a workforce of 30 people.
But the practice’s main trading arm, Tooley Foster 1982 Limited, entered voluntary liquidation at the end of last year owing £1.6 million, with total assets estimated to be worth just £138,000.
Now a secondary company, The Tooley & Foster Partnership LLP, has entered liquidation this week. The group’s employee benefit trust, Tooley Foster Trustees Limited, is set to be dissolved later this month.
Liquidator Stewart Bennett…
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Relief for giant Moi-era construction firm put under liquidation Business Daily
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JAL was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024.
Gautam Adani’s group, Anil Agarwal’s Vedanta Group, and yoga guru Baba Ramdev’s Patanjali Ayurveda are among the 26 entities that have shown interest in acquiring…
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Quantron is out of insolvency: founder Andreas Haller has taken over the company Sustainable Bus
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IDBI Bank’s insolvency appeal against ZEEL dismissed by NCLAT MSN
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However, the appellate tribunal granted liberty to IDBI Bank to move a fresh plea for default outside of the period mentioned in section 10A of the Insolvency & Bankruptcy Code.
Section 10A mandates that no application for initiation of the corporate insolvency resolution process (CIRP) can be filed against any debtor by…