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ActionSA in the Free State says Premier Maqueen Letsoha–Mathae should be held accountable for appointing Jabu Mbalula as the acting Premier despite reports that he’s
A Nottingham designer clothes shop – an independent retailer which prided itself on stocking Lacoste – has gone into liquidation, marking the end of just over two years of business. Menswear retailer Mint Duck, which opened on Middle Pavement in September 2022 before moving round the corner to Bridlesmith Gate last June, appointed liquidators on February 3.
Liquidators assessed the shop had an estimated £6,100 worth of assets when placed into administration, but owed significantly more than that amount to other businesses and HMRC.
Mint Duck now owes £3,323 to HMRC according to documents submitted to Companies House, meaning the government body will have to contend with a shortfall of £2,776. The unsecured creditors of the business,…
On a freezing January morning in 2016, Tom Goldstein arrived at the US Supreme Court to argue the first case on the docket.
It was a First Amendment dispute involving a Paterson, N.J., police officer demoted because of his perceived political activity. Victor Afanador, the lead attorney who picked Goldstein to persuade the justices that city officials didn’t break the law, thought he seemed “real,” unlike other, stuffy Beltway lawyers. Afanador was impressed by Goldstein’s record of arguing more than 30 cases at the Supreme Court at the time.
Before their case was called, the Newark attorney snapped a selfie. Goldstein appeared tense. A lot was on the line. If Goldstein lost, he wouldn’t get paid. That was the agreement he made…
The resolution professional of debt-ridden Jaiprakash Associates Limited (JAL) has invited expressions of interest (EOI) for the company under the insolvency and bankruptcy resolution process by February 9, nearly eight months after it was admitted for bankruptcy proceedings by the National Company Law Tribunal.
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The EOIs have been invited under two options, where Option I involves bidding for the Jaiprakash Associates and all its assets as a going concern as a whole, and Option II involves bidding for one or more specific assets of the company grouped under 13 different clusters, a public announcement by the company showed.
Under Option II, the 13 clusters have been listed as follows:
ActionSA in the Free State says Premier MaqueenLetsoha–Mathae should be held accountable for appointing JabuMbalula as the acting Premier despite reports that he’s insolvent and under debt administration.
The party says the appointment is potentially unlawful because individuals declared insolvent are disqualified from holding public office.
ActionSA has called for Mbalula’s immediate removal.
The party’s provincial chairperson, Patricia Kopane, says the Premier must explain why proper background checks were not conducted in appointing Mbalula.
“The Director General of the province, who’s responsible for overseeing the smooth running of the province must thoroughly do the background check and the vetting….
As GoFirst teeters on the brink of liquidation, a glimmer of hope emerges with EaseMyTrip co-founder Nishant Pitti. His company, Busy Bee, has informed the National Company Law Appellate Tribunal (NCLAT) that it is in discussions with lenders to rescue the struggling airline.
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The NCLAT is hearing a plea by Pitti backed BusyBee challenging the National Company Law Tribunal (NCLT) order directing for liquidation of the airline.
The counsel for BusyBee today informed the NCLAT that they’ve had a meeting with the lenders. They also updated that a written proposal was shared with the lenders. They submitted that the lenders have sought further meeting in the course of this week.
The Financial Supervisory Service has decided to hold the main creditor bank responsible for the management of corporate insolvency. Judging that corporate debt can be the detonator of the Korean economy, they are intensively managing conglomerates.
On the 10th, the Financial Supervisory Service released and announced the “2025 Business Plan.” Announcing the work plan, Financial Supervisory Service Director Lee Bok-hyun stressed, “As political and economic uncertainties are increasing, the Financial Supervisory Service will carry out its work with greater responsibility and awareness than ever.”
The Financial Supervisory Service conducts in-depth monitoring of groups…
Audit firm, Wbg has warned directors against the repercussions of failing to deal with failing companies in the proper manner and illegal ‘phoenixing’.
The caution follows reports that a Scottish company director used a ‘corporate rescue’ process to shut down his winter sports business and dodge paying out money to staff by paying bogus directors to take the place of the former directors whose companies had built up big debts to HM Revenue & Customs and others, leading to the Insolvency Service taking action to shut it down.
It is alleged these directors made no efforts to save stricken companies, instead leaving them to be dissolved. In many cases, directors reportedly ‘phoenixed’ companies, carrying on…
