After bankruptcy, retail chain liquidates stores, seeks buyer TheStreet
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The company that owns the Village Green Shopping Centre is owed roughly $283,000 from The Bay. Smaller amounts are owed to the City of Vernon and a local plumbing company
Hudson’s Bay, Canada’s oldest company, is in the process of liquidating almost all of its department stores, and creditors for its Vernon location have been left with unpaid bills from the retail giant.
Hudson’s Bay Company ULC announced it had filed for protection under the Companies’ Creditor Arrangement Act (CCAA) on March 7, a move the company’s president and CEO Liz Rodbell said was a “very difficult (but) necessary step.” The company filed documents with the Ontario Superior Court of Justice indicating that, despite exhaustive efforts to secure…
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BENGALURU: Granting limited indulgence,
Karnataka high court on Thursday issued an interim order directing the resolution professional in the M/s Think and
Learn Pvt Ltd (Byju’s) case to preserve all email communications between stakeholders in the case.
The court said these emails may be required for the Corporate Insolvency Resolution Process or any related investigation.
Justice M Nagaprasanna passed the order after hearing a petition filed by Byju Ravindran, one of the promoters and suspended director of the company.
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(TheNewswire)
VANCOUVER, B.C. April 11, 2025– TheNewswire – Highbank
Resources Ltd. (the “Company”) (TSX.V – “HBK”)
This news release is
formal notice that Highbank Resources Ltd. has filed a Corporate
Assignment in Bankruptcy effective April 10, 2025 under section 49 of
the Bankruptcy and Insolvency
Act. The Company is
unable to address any current significant losses nor any further
obligations as they become due. The Company currently has two
directors on board.
All further matters will
be handled by D. Manning & Associates Inc. -Licensed Insolvency
Trustee of Vancouver, B.C. A First
meeting of Creditors is scheduled for April 25, 2025 .
Creditors will be notified of the zoom link, and will be forwarded
information and…
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Washington, D.C. Newsroom, Apr 11, 2025 /
15:52 pm
The U.S. Conference of Catholic Bishops (USCCB) and Jubilee USA Network this week sent a letter to President Donald Trump urging him to pursue global debt relief initiatives that will economically serve both developing countries and the United States.
In the letter, Bishop Abdallah Elias Zaidan, the chairman of the USCCB’s Committee on International Justice…
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Justice Nagaprasanna noted that the other prayers in the petition, including the minutes of the Committee of Creditors (COC) held on April 8, 2025, have to be placed before the appropriate authority.
Last Updated : 11 April 2025, 19:52 IST
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New Delhi | Mumbai: Assessing officials continue to raise fresh
tax demands on companies coming out of
corporate insolvency, defying the ‘clean slate’ provision provided under the
Insolvency and Bankruptcy Code (IBC) and multiple court rulings, throwing successful resolution applicants into legal limbo.
Several such companies have faced tax demands over pre-acquisition liabilities, and have moved courts, legal experts and industry insiders told ET.
Recent examples include Tata Steel, which was slapped with an income addition of ‘25,185 crore in respect of a debt waiver pertaining to Bhushan Steel before the Tatas acquired the company under IBC in 2018.
Tata Steel has challenged it before the Bombay High Court. “Waiver of debt cannot be…
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As of March 2025, the focus of the news release on bankruptcies will be on the changes compared to a year earlier and on the bankruptcy rate. This is the number of declared bankruptcies per 100 thousand businesses. The bankruptcy rate provides a clearer picture of the change in the number of bankruptcies in the Netherlands. It also allows for better comparison between sectors. The number of businesses can fluctuate over time and differ greatly between sectors.
Bankruptcy rate also lower
The bankruptcy rate, the number of bankruptcies per 100 thousand businesses, was 7.4 in March. A year earlier, 9.5 per 100 thousand businesses were declared bankrupt. Since the start of the series in 2015, the bankruptcy rate peaked in…
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Jetline Travel enters administration itij.com
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In a landmark ruling delivered on 10 April 2025, the High Court of Justice adjudicated a notable case involving Dean McGuinness, the director and shareholder of Hitcham Homes Limited, and Goldentree Financial Services. This case, officially designated Dean McGuinness & Anor v Goldentree Financial Services Plc & Anor, stems from contentious financial dealings linked to substantial loans that Goldentree provided for various property developments in Wooburn Green and Hungerford.
The intricate legal battle commenced when Goldentree appointed joint administrators for Hitcham Homes Limited on 21 April 2023, prompting McGuinness to challenge the legitimacy of this administrative decision under the Insolvency Act 1986. He argued that there was…
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Several businesses under the Sunterra banner, known in Alberta for its agriculture and high-end grocery operations, have taken steps toward creditor protection as three of its U.S. subsidiaries face legal and financial scrutiny.
Late last month, Sunterra Quality Food Markets, Sunterra Food Corporation, Sunterra Farms, Trochu Meat Processors and Sunwold Farms all filed notices under the Bankruptcy and Insolvency Act, a process that gives financially strained companies 30 days of protection from creditors while they come up with a plan to restructure.
Trochu is where Sunterra processes its pork in Alberta. The facility was damaged in a fire last summer and has not yet reopened.
Sunwold Farms is a pig operation in South Dakota where…
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