Insolvency Guardian Media Centre
New Look to close 26 Irish stores amid running losses and liquidation challenges Apparel Resources
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Insolvency law: Council settles on position for core capital markets union legislation consilium.europa.eu
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The High Court has now appointed a provisional liquidator for Paul Y’s five subsidiaries to handle debts and formulate a restructuring plan.
The government said while the 78-year-old company is undertaking a number of public works projects, the impact of the formerly-listed firm’s situation should be manageable.
In a statement, the government said the company is currently working on 13 public works projects — all but one of them were undertaken by way of joint venture with other construction companies.
Paul Y is also responsible for a number of projects for other public organisations.
“As the…
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The High Court has now appointed a provisional liquidator for Paul Y’s five subsidiaries to handle debts and formulate a restructuring plan.
The government said while the 78-year-old company is undertaking a number of public works projects, the impact of the formerly-listed firm’s situation should be manageable.
In a statement, the government said the company is currently working on 13 public works projects — all but one of them were undertaken by way of joint venture with other construction companies.
Paul Y is also responsible for a number of projects for other public organisations.
“As the…
Read the original article here
The alarming statistic, revealed by recent analysis, underscores the dire straits faced by small business owners in the state.
The construction and hospitality sectors have borne the brunt of these closures, accounting for nearly a third of the failed businesses.
The sectors, particularly vulnerable to economic fluctuations, have been severely impacted by high interest rates and reduced consumer spending.
Liberal…
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Family Metal Foundry Saves a Business The KTM Insolvency Nearly Killed MSN
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The National Company Law Appellate Tribunal (“NCLAT”) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that the sale of a corporate debtor as a going concern in liquidation can be conducted even beyond 90 days under amended Regulation 32A(4) of the Liquidation Regulations, 2016 (Regulations). After the amendment, the sale of the corporate debtor can be conducted in the first auction and the requirement that such sale has to be conducted within 90 days has been removed.
Brief Facts:
M/s Continental Piling and Excavation Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (Code) against M/s Anwesha Engineering &…
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Family Metal Foundry Saves a Business The KTM Insolvency Nearly Killed MSN
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Family Metal Foundry Saves a Business The KTM Insolvency Nearly Killed MSN
Read the original article here
Company collapses in Western Australia have surged 24 per cent, with more than 1200 businesses plunging into insolvency in 2024.
9News Perth and WAtoday can reveal new figures from the Australian Securities and Investments Commission, analysed and provided by WA Senator Dean Smith, which showed construction and hospitality companies were among the hardest hit.
Construction business insolvencies are impacting businesses higher up the chain.Credit: Eamon Gallagher
It was blamed, in part, on tightened consumer spending as the Reserve Bank embarked on the swiftest interest rate tightening cycle in a generation.
Nearly one third were building, accommodation or food, with 396 accounting for collapsed businesses between January and December 2024.